London property prices continue to rise – but not everywhere

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By johanna / 27 September 2012 / 2 comments

 

Highlighted in a recent blog by FT’s John Authers and illustrated by a video, it appears as though despite on average property in London is going up, this is isolated to the ‘prime’ areas that were already pretty pricy. As mentioned in the video – if your property was in a cheaper area to begin with – chances are the price now will still be the same, or possibly even have less value.

More interestingly, only 19% of these buyers are British, while the vast majority of buyers are from East Asia who see buying in the UK market as a more stable location to invest their money. Sellers may also find it more appealing to sell overseas, as they can do so ‘off-plan’.

Here is the full list of ‘purchasers of new central London developments’:

• 19% British
• 17% Hong Kong
• 15% Singaporean
• 14% Malaysian
• 11% Middle Eastern
• 5% Chinese
• 5% Indian
• 4% Russian
• 4% European
• 3% Turkish
• 3% Other

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