Winter isn’t over yet.Â Just when we thought Spring was around the corner, the ‘Beast from the East’ delayed it for a week or so.
Winter isn’t over yet. Just when we thought Spring was around the corner, the ‘Beast from the East’ delayed it for a week or so.
The ongoing uncertainty over Brexit hasn’t been very helpful but the market overall has remained pretty resilient and I think spring should provide a welcome boost.
I am not sure how to interpret the very recent Russian orientated news. A big win for Putin and the alleged long reach and equally long memory of his security forces may deter some from investing here. The Russian diaspora in London have never been particularly active in the Marylebone area but along with the “unexplained wealth” proposals and the cooling of the Russo-UK relationship, there may be an adverse effect the wider prime central London market.
Closer to home, when the recent cold weather is over we could be seeing a bit of a reaction with pent-up demand being a little higher than expected. Interest rates are looking to stay relatively low with a gentle uphill bias but we have been in this pattern for a while.
The shortage of property is easing very slightly but is set to continue for a good while yet, which should ensure market conditions remain steady.
Here in Marylebone all activity indicators are starting to pick up. Newly listed properties are attracting high initial interest but need to be sensibly priced to turn that interest into viewings and subsequent offers. Demand is still centred towards but not exclusive to the sub £2 million market.
This spring should be a good time to get that house or flat onto the market and if you are thinking that way I would love to continue this conversation with you.
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