Cluttons has released its quarterly London Residential Market Outlook for Winter 2017.
In this issue, we discuss the impact of the political and economic turmoil across the UK on London’s residential market.
Average residential prices in prime Central declined by a further 1% during Q3 2017. The decline however, has not been uniform, with submarkets such as Kensington, Mayfair, Hyde Park and Marylebone, recording the slowest pace of price reductions. In fact, these submarkets have also witnessed a surge in transactional activity.
The lettings market continues be challenged by the budget cuts in the financial sector as well as increased amount of lettings stock. Tenants remain firmly in the driving seat and a significant share of lettings stock is experiencing a sharpening in advertised rental rates.
Further detail, along with our five year forecasts for the market, is presented in the report, so please download your copy.