WHY ARE PRICE RISES NOT THE SAME ACROSS LONDON?
EVENING STANDARD, HOMES AND PROPERTY, 14.11.2018
Andrew Matin, managing director of Harrisons estate agents, believes the inner/outer divide is down to differing buyer motivations. “Outer London generally has much more appeal for families and purchasers will typically occupy the properties themselves,” he said.
“People need somewhere to live regardless of influences on the market. Inner London, however, is more investment focused, and 2018 has seen inactivity throughout this more central market as a result of high supply as investors trying to dispose of assets and exit the market, and low demand following increased tax liability and economic uncertainty.”
Russell Quirk, founder of Emoov, added: “Inner London has performed worse given that prime central London rose in value significantly in 2012, 2013, and 2014 and therefore it overheated and has had a higher level from which to fall. The stamp duty penalisation on properties above £1.5m has hit that part of the market hard.”← Back to insights