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Central London buyer activity 'to rise'
09 Jul 2010
The quantity of buyer activity in the central London area is likely to increase, those with buy to let insurance have been told.
Naomi Heaton, chief executive of the London Central Portfolio, said that the strengthening pound is likely to impact on the number of European investors, but that this will be counterbalanced by the comparative economic stability of the UK.
While she acknowledged that the transaction levels in the area have yet to return to pre-recession levels, she said this makes it more likely that a rise in activity will take place in the near future and drive up prices.
Ms Heaton highlighted the fact that capital gains has remained at broadly similar levels and said that this is likely to also feed through into a rise in buying activity.
She asserted: "A negative shift in consumer sentiment will always be countered by a positive shift due to the wholly compelling reasons to invest in London central."
The Land Registry recently reported that house prices fell 0.2 per cent in May, although they have experienced an annual increase of 8.2 per cent this year.
Posted by Michael Brown
