Property Prices Fall In London

Across Central London the prices are seen to be at a declining curve recently. The head of residential research and studies Knight Frank also stated that this fall in prices is nearly reaching 4% before the occurrence of Christmas.

Property Prices Fall In London

It might also lower down to 1.5% in February and 1.6% by next March. He says the last two months has seen market activities to be enhanced. In areas like Central London the number of properties that has been exchanged has risen to 26% on annual basis. On a monthly basis the rise is around 13%. The activities of sales are experienced to be more during the months of February and March.

New properties emerging in the markets in London are not much. The curve shows a downward inclination with 42% less number of properties in March. The primary issue hitting London property market recently is the increase in shortfall of stocks in primary locations. Since last March the stock of available properties in London for purchasing has lowered down to 30%. Mayfair is the most popular and strongest local market in the central regions of London. More than its geographical area, Mayfair is popular because of its sophisticated and fashionable culture.

During March, Mayfair saw a price declination of 0.3%. The foreign buyers comprises of around 60% of the market over here. News show that the leaders in the business world have given a warning that in near future property related investments can damage our economy. The consumer expenditures will be lessened and the overall growth and development will be affected in the coming year. These will directly affect the credit structure and the situation can worsen. The sellers are trying to compromise to the situation that purchasers are not willing to take any chance to buy property during this time of downward trend in the market.

Property Prices Fall In London
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