After months lagging behind a booming U.K. housing market, prime central London is set to see the strongest price growth in the country as international buyers return.
Throughout the pandemic, prime central London lagged behind the rest of the U.K. housing market as buyers turned to the countryside in search of fresh air and larger spaces. But now the trend is poised to reverse. Property prices are set to grow 23.9% in the next five years, according to a November report from Savills, which would see prime central London values return to their 2014 peak for the first time.
“Better to be an early mover and strike sooner rather than later,” said Mark Pollack, director of Aston Chase, a London-based luxury real estate brokerage.
The end of lockdowns and the re-opening of travel, along with favorable financing conditions will lead to a normalization of market conditions in the year ahead. Meanwhile, low supply for the types of prime…