LONDON BAROMETER
DIRECTOR OF DOUGLAS & GORDON
The London property market continues to be seen as a safe haven in turbulent economic times, with record numbers of properties being sold to international buyers. Previously international buyers have focused on prime central London, but recently we have seen purchasers from Russia, America and France buying across south-west London in Battersea Park, Southfields, Pimlico and Hammersmith.
“As a result of the recent French elections, French buyers have been active across the London market at all price levels, earning London the title ‘6th biggest city in France’.
“Despite increasing demand and low stock levels, buyers are determined to weather the economic and mortgage storm but seem to be reaching their limit of price elasticity at the moment.
“The number of flats on the market is lower than this time last year as a result of the increase in buy-to-let landlords buying in time for the summer lettings market.”