Long-term property values in London set to soar
We don’t have a crystal ball in the property market but we do analysts and experts who examine historical data and trend forecast so buyers and investors can make educated purchasing decisions
The latest research pertaining to property comes from Barclays wealth and investments, forecasting how UK house prices will perform over the coming years.Between now and 2021, prices in London are predicted to rise almost 12% but pockets of ‘super growth’ have also been identified. House values in Richmond upon Thames will enjoy the largest increase in the UK at 39.1%, followed by Camden, Westminster and Wandsworth, which are expected to grow at 33.9%, 31.9% and 31.1%, respectively.”Data like this is very important to property buyers who are looking at long-term appreciation prospects,” comments James Robinson, the General Manager at Lurot Brand – a Central London estate agency specialising in mews properties.”While it’s easy to be consumed with house price figures that show how values have fluctuated in the previous month or year, many astute buyers want to know what the long term prospects are,” adds James.”The global demand for London properties together with its business, cultural and social appeal almost ‘bullet proof’ the city as a prime location. It’s no surprise to Lurot Brand that values in some of the areas we serve will see above UK-average price increases”, concludes James.
The average overall price increase in London over the 2017-2021 period is expected to be 2.27 per cent per annum compared to 1.31 per cent in the UK.
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