London is one of the world’s most buoyant, lucrative and stable residential property markets.
- Between 1996 and 2007, average residential property prices in London rose by 310% (238% in real terms)
- According to a report by Jones Lang La Salle, London proved to be the most popular world city for property investment during 2010 and 2011. The top 5 were: London $43bn; Tokyo $32bn; New York $27bn; Hong Kong $18bn and Paris $18bn;
- Media reports have repeatedly highlighted the large number of overseas investors seeking to buy residential property in prime London locations as a safe investment, outside the Euro zone.
- In 2009 and 2010, over 50% of total property investment in central London was from international buyers
- Average UK rental yields, in percentage terms, are higher than Germany, France, Switzerland and Russia.
- English property law is renowned for its transparency and security;
Recent statistics from Knight Frank revealed that London’s property market has topped some of the best international property markets as well. A typical home is now on the market for a mere 34 days in London before it sells at 95% of asking price. Savill’s estimates that by 2017 prices will soar by 25.6% in Central London, 22.1% in Prime Outer London and 22.2% in the Prime Outer Suburbs, while London as a whole will rise by 21%.
Realtors Chesterton Humberts prophesises Prime London prices to grow by 40%. Knight Frank, meanwhile, foresees specific pockets like Nine Elms growing at up to 40% annually over that period.