London, residential market outlook, summer 2015

Cluttons has now released the summer edition of the London residential market outlook report.

There is no doubt that the results of the General Election have helped to reinject confidence into the market that had receded early on this year.

The outlook for the London housing market has stabilised, while buyers and vendors have returned to the market following a conspicuous absence of activity.

Our outlook for the rest of the year is for increased stability in the market and a return to a more normal state of activity. Risks still remain on the international front however.

The prospects for the prime Central London rental market are stable, with average growth close to the long run average forecast for the next five years.

Affordability and the desire to purchase remain key challenges for the capital’s rental market and while supply levels are rising, the strong rate of job creation in London will help in absorption rates.