Who says that property market in London is sluggish?
When you look at the unbelievable increase of 5 percent in the national average price as compared to the previous year, it is hard to believe really on the so-called ‘slow down’ in the market.
Yes, the real estate market has once again proved that it is really difficult to predict the ups and downs whatever expert you are in the niche.
Against all the odds, Brexit vote last year and unexpected declaration of elections this year; there has been a substantial increase in the number of buyers and sellers in the market. No wonder, the sales figures also show an increase of 4 percent or so.
The similar trend is shown by cumulative sales figures also.
Experts say that there may be a little bit of turmoil in the market, but it will not harm the overall situation much. Moreover, it will be triggered by totally different factors such that lowered interest rates or the imbalance between the supply and demand.
Summers always show a dip; hence it is a normal phenomenon
Don’t get disheartened looking at the dip in the market during the summer season. Yes, it is not an exceptional thing. Rather, it is a very common thing that happens every year.
After all, who want to spend beautiful sunny days in searching for properties? It is the time to enjoy with friends and family.
In spite of a 2 percent (approximate) drop in the average asking price (for the whole country) for the first time buyers as compared to the previous quarter, the figure is actually four percent higher than the last year.
Hence, there is no reason to be panicky. Statistics point out to a steady and consistent market. Buyers who were calmly waiting in their home for the market coming to normalcy are now coming out for new deals.
Experts foresee an exciting time
Yes, certainly they feel that London is going to enjoy the status of being one of the most sought places for property investment. In spite of the fact that some people suspect it, in general, there is a positive feel.
The investors are expecting more, and they take quite a longer time in due diligence, it doesn’t have any negative impact on the image of London as the global leader.
Due to the immensely diverse pool of intellects and the well-known history of profound culture make it the top choice in the list.
Moreover, the legal framework of the city is pretty strong which gives a sense of security to investors.
Realtors are trying their best to attract investors. They are not interested in speculative constructions but targeting buyers before hitting the ground. They are developing shopping centers, retail parks and other properties in right localities.
Looking at the confidence shown by realty business owners in the London property market, it is very clear that the growth will gain pace in the coming times.
So if you foresee any opportunity of investment in properties in London, then it is the right time to hot the nail on the head!