Central London residential prices have now risen by about 16% above their 2007 peak values, but the widespread industry consensus of opinion is that values will continue to grow , putting the sector in to a super prime category compared to the rest of the UK and other world cities. This was highlighted in a recent CBRE report entitled ‘Why London Still Packs a Superprime Punch’ – download it here.
Residential supply remains restricted, and both domestic and international demand, particularly from the Far East remains very strong.
The reasons for this overseas demand remain the same, overall quality of environment for foreign owners, safety for assets and persons and easy access. In addition and as importantly there is a good choice of apartments and houses to choose from, all designed and finished to the highest world standards.
Residential Land remains committed to this sector, both in the traditional prime areas of Mayfair, Knightsbridge and Belgravia, but also in the newer prime pockets in St John’s Wood, Hampstead and Regents Park and are actively seeking to increase their portfolio.