In her market overview, Kirsty Bennison delves into new data from TwentyCi which shows how price sensitive the prime market has become as a result. However, the overwhelming evidence is that where sellers have realistic expectations on price the market is active.
Yolande Barnes and Lucian Cook have taken up the challenge of forecasting what happens next in prime central London, building in a further period of uncertainty post-Brexit and looking at how longer-term drivers for growth compare to those of the past.
What these two articles tell us is that prime property sentiment is fragile, but London has not ground to a halt. Prime London may not be able to maintain the stellar growth trajectory of 1979 to 2014, but it retains its time zone, language and cultural offerings, which underpin its status as the world’s business hub. And, as Mat Oakley, our head of commercial research, points out, there have been some big votes of confidence in the London market, despite Brexit.
We are also including updated forecasts for the prime regions outside London, where buyers can get at least twice the square footage for their money compared with prime central London.
The stop-start nature of the ripple effect is likely to persist for a little longer, but the platform is set for a renewed flow of wealth between London, its commuter zone and beyond.
In the meantime, the expectation of a price-sensitive market means buyers and sellers will need to continue to keep their feet on the ground.