As a Property Finder in London, we are always asked for our views on the London market. Did you know ? (It’s not a test, so don’t worry)…
*London’s share of the nation’s £5 trillion property wealth has increased to £1.35 trillion or by 27% in the past decade according to Knight Frank.
*Homes in London valued at under £2m increased by around 1% in August and are up by 8.7% over the year to date.
*Homes in the £5 million to £10 million and the £10 million plus price brackets increased in value by 0% and 0.2% month on month and are up by 2.6% and 1.6% respectively so far in 2013.
*London was the destination for almost 50% of Middle East investment in European commercial property in the first half as political stability and growth prospects attracted buyers – CBRE
*Banks and building societies advanced home loans worth £16.6 billion in July, up 29 per cent on last year and the biggest rise for seven years – this increase is almost solely driven by the Help-To-Buy scheme
*The 40,000 buy-to-let mortgages advanced in the three months to the end of June marked an increase of just under a fifth from the first three months of the year, according to figures from the Council of Mortgage Lenders (CML). This was worth £5.1 billion.
*The owners of Foxtons are planning to float the company on the stock market for circa £500m.
Are we witnessing another bubble? Is the Governments new Help to Buy scheme a disaster waiting to happen? What does this mean for our clients buying right now?
If you would like an honest and unbiased opinion on the prime London market, do get in touch at hello@propertypoint.co.uk We are the London Property finder that specialises in finding homes and investments in Central London.
