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What Will 2013 Do For London Property?

The New Year is a good opportunity to see how life panned out for the UK last year, we get to review how much rain fell in 2012 (Our estimate is lots) but more importantly, we gain insight into the patterns in 2012 for central London property. After being in the business for over twenty years we know that the property market relies on many different things to stay afloat. In central London we have braved the cruellest weather and kept our heads dry, the market has been held aloft by less available property, but great interest from overseas buyers, particularly from Russia and China. The reports for the past year have been up and down, while there were six monthly decreases in 2012, there was also a gradual rise in recent months, from 75,000 to 80,000 in November, general sales for September to November were 2% higher than in the same period in 2011. There was also a noted improvement in Q4 2012 of 0.6% compared with Q3 the same year, all indicators point towards a rise for 2013, including the December 2012 rise of 1.3%. Current indicators are pointing towards growth rather than a decline or stagnation. The outlook is looking slightly brighter for the central London property market, with many factors giving rise to further growth in the coming years – including Crossrail opening in 2018, which may seem a long way off now, but is drawing more and more foreign investors into London property – the current climate occupies 55% international buyers and 19.5% European buyers, riding on the back of the Eurozone crisis.

The New Year is a good opportunity to see how life panned out for the UK last year, we get to review how much rain fell in 2012 (Our estimate is lots) but more importantly, we gain insight into the patterns in 2012 for central London property.

After being in the business for over twenty years we know that the property market relies on many different things to stay afloat. In central London we have braved the cruellest weather and kept our heads dry, the market has been held aloft by less available property, but great interest from overseas buyers, particularly from Russia and China.

The reports for the past year have been up and down, while there were six monthly decreases in 2012, there was also a gradual rise in recent months, from 75,000 to 80,000 in November, general sales for September to November were 2% higher than in the same period in 2011.

There was also a noted improvement in Q4 2012 of 0.6% compared with Q3 the same year, all indicators point towards a rise for 2013, including the December 2012 rise of 1.3%. Current indicators are pointing towards growth rather than a decline or stagnation.

The outlook is looking slightly brighter for the central London property market, with many factors giving rise to further growth in the coming years – including Crossrail opening in 2018, which may seem a long way off now, but is drawing more and more foreign investors into London property – the current climate occupies 55% international buyers and 19.5% European buyers, riding on the back of the Eurozone crisis.

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