Despite any Brexit related effects on the residential property market, it is encouraging to see that there is still plenty of demand for property in Prime Central London.
Knight Frank has reported having more customer spending potential than at any time within the last decade. The firm has registered buyers looking for homes in London with a combined budget of £55bn.
Alongside that, a particularly interesting trend is identified in that buyers are getting younger. This seems to correlate with a boom in the technology industries, which for some time, have flourished in London.
Their report is not without some qualification in that persuasive decision making factors for buyers are seen to be slowly reducing, with currency discounts becoming less favourable since a withdrawal agreement was reached with the EU. With that and mortgage rates potentially reaching the bottom, the window of opportunity for foreign buyers may be narrowing.