For a while now London properties have been attracting investors and it’s not just nationals who are keen to get in on the action. Foreign investors have shown a keen interest in acquiring properties in the capital which has helped bump up the London housing market, and it looks like this trend is going to carry on for a quite a while to come.
Foreign Property Investors Keen to Buy in London uk property market
London is seen as the “safe haven” for foreign property investors and it is this keen interest which has kept the capital’s housing market so buoyant. Surveys have shown that this is expected to remain the case for a while to come. London was placed in pole position as being the “most attractive” property investment opportunity in both the UK and Europe for two consecutive years, resulting in the capital becoming the ultimate city to invest in.
However, many people are asking whether the capital is as recession-proof as everyone would like to believe and if this is the case, then maybe other areas of the country might feel the ripple effect of this property boom. When it comes to looking for any sort of reassurance that investing in a London property is a good move, there are plenty of experts out there who will tell you that it’s the nearest possible thing to a “safe bet”.
Property Prices in London Still Rising
The fact remains that property prices in the capital are still seen to be on the rise even though in other areas of the land, housing markets are experiencing much harder times. The gap between property values in London and elsewhere in the country is wider today than it has ever been. Savills, one of the UK’s leading estate agents back up these figures as do other large and well established agents around the country.
London Property Prices No Longer the Country’s Gauge
The fact is that where in the past London’s property prices when they fell or rose, were a good indication of what was happening in the rest of the country, this is no longer the case. In the last five or so years, the capital’s property market has consistently outperformed any national average with the added bonus of moving in the opposite direction compared to the rest of the country, namely up instead of down.
House prices in London rose by 6% whereas in other areas of the UK, they fell by 11%, these figures are backed up by yet another of the country’s leading estate agents, Knight Frank. However, with this said, there are certain areas of the capital where price movements are even greater and this includes London’s most exclusive residential boroughs, one of which is Kensington and Chelsea, where the rise has been in the region of 37% in the last 5 years. This puts the capital’s most expensive areas on a par with properties in places like New York or Hong Kong.
Why London Properties Are Sought After
The reason why London’s property market is so buoyant whereas other areas of the country are not is because of the huge foreign interest in owning a house, flat or other type of property in the capital, and this is especially true of area like Westminster,Hammersmith, Chelsea, Fulham and Camden. Investing in a London property is a sound move that will see a return on your money.
Getting in on London’s property market has to be seen as a great investment opportunity, and one that is as close to being as “safe as houses” as possible. Exclusive areas of the capital command vast amounts of money. However, other up and coming areas need to be investigated because anyone who boasts money in the bank, will be guaranteed a much better return on it if they invest in a London property rather than rely on any interest their money might earn if left in the bank.
Author bio: This article was brought to you by Helen Wallis on behalf of London based estate agents, Robert Irving Burns