London is an exciting city with a lot to offer. There are many different neighbourhoods, each with their own unique charm. The London property market can be difficult to navigate, but if you know what you’re looking for and how much it costs, then the process becomes easier.
The situation presented by the media
Brexit has not had much of an effect on the UK’s real estate market, despite what people thought it would be. The British pound is still high and prices are stable for now because transactions have fallen from their 2014 peak but this doesn’t tell the entire story – London property prices in particular continue to drop which could signal more turmoil ahead as things stand today.
The media focuses too heavily on Brexit while neglecting other important news like how homeownership became less affordable over time due largely by increased house price appreciation combined with stagnant wage growth for most workers (even those making $200K per year).
Overseas buyers have been given a financial boost by the falling pound. The increased capital from abroad means that now is the time to invest in London properties, but there are some important things you should know before doing so.
Growing buyer demand
The housing market in London is becoming more and more competitive. Over the last few years, supply has lagged behind demand for new properties coming onto the market which means that buyers have had no choice but to bid up prices or settle with an apartment they may not want just because it was available when they needed one–but this trend appears set now change as London’s 40% increase in sales suggests things are changing there too.
More property options
London property investors have various options as to where they should invest. For those who want their properties to generate steady income, central zones like Zone 1 and 2 may provide better return on investment. These areas appeal more to savvy real estate owners looking into renting out space in these booming hotspots.
The best place to be if you’re invested heavily into investing is right outside Central London because there’s always going to be demand no matter what happens.
Investors should also look at project quality
For property investors looking for London real estate, location is very important. But what people don’t realize is that quality of a residence matters just as much if not more than where it’s in relation to properties around them! If you find yourself renting out an average or below-average home due to its prime location but your tenants are dissatisfied with their living space then things will get difficult pretty quickly.
The rental property scenario
In 2020, rent across London decreased significantly due to financial difficulties and job uncertainty for some tenants. This is predominantly down to redundancy in conjunction with furloughs from companies as they attempted a cost-savings measure against uncertain times ahead of us all – such as automation or globalisation on an international scale.
Additionally, there was growth within private rental properties thanks largely because people wanted smaller living spaces when not at work so much; causing supply to increase considerably over twelve months’ time.