MARKET REPORT 2017

Brexit is underway!

 

Whether you sit on one side of the fence or the other, either way the process for the UK to leave is building momentum and one thing is for sure, the effect the decision has had on the market in Central London, has not been anywhere near as bad as we were led to believe.

In the centre of London, it is clear to see that business is starting to pick up everywhere you look and property is no exception. Foreign buyers are back with very favourable exchange rates on their side, the domestic buyers never really left, but are now starting to engage in the buying process with more bite than we have seen for the last 12 months.

Prices in real terms have not moved upwards since March 2014 and have only moved downwards if one was forced to sell or motivated to get out. Otherwise, the market has been flat and has presented at the same time, some very good buying opportunities that many clients at LF have taken full advantage of.

But now, with the gap having closed between the centre and many out of town local cities, such as Brighton, Reading & Oxford, we are starting to see buyers see the value of coming back into London and picking up some interesting deals.

If, like many existing clients, you are one of those thinking about what value can be added if you were to buy this year, please don't hesitate to get in touch and we will be only too happy to talk you through some of the interesting opportunities we have been involved in throughout the last 6 months as well as the proceeding 15 years. We look forward to meeting you.