Insurance News Archive

London property insurance holders 'will see increased activity in prime market'

Posted by Jonathan Walker

Property portfolio insurance policyholders with prime accommodation in central London are likely to see increased activity in the market over the coming months, according to an expert.

Naomi Heaton, chief executive of London Central Portfolio, said that investors come to London for their summer holidays and go on a shopping spree.

This is likely to be particularly marked this year because of the weak levels of sterling and the predicted post-election bounce, Ms Heaton explained.

"Apart from London central's undeniable global appeal and long-term capital growth prospects, the market continues to be particularly attractive," she commented.

Property portfolio insurance policyholders operating in the prime market have seen a good recovery, although prices are still slightly lower than at their peak, Ms Heaton added.

She said that the increase in transactions and "the halo effect of the Olympic Games" will help the sector to recoup lost growth sooner rather than later.

Her comments follow figures from Knight Frank which showed that monthly prime property sales were at their highest level in March since the peak of the market in 2007.

26 Apr 2010