The outlook for sales and lettings activities in the Prime Central London property market is promising, according to a latest analysis by property advisory firm JLL, premier global property news service Property Wire, has reported.
The sales and lettings activities were subdued in 2016 in Prime Central London in view of the stamp duty impact and the fallout of Brexit. However, the impact of the stamp duty is now largely absorbed, JLL said.
While prices of properties are likely to remain stable during 2017, the sales activity has picked pace with an increase in the number of transactions in the last six months. The number of transactions increased by 36 per cent during Oct-Nov-Dec 2016 over the previous quarter, JLL said in its report.
Similarly, Prime Central London rental values, which had fallen during 2016, have adjusted to new levels. JLL has predicted that the rental values will remain stable throughout the year and will increase further over the next 12 months.
The recovery of the sales and lettings activities in Prime Central London comes as a relief, as properties in that part of the London are amongst the highest valued in the world. If you are keen on acquiring a property in Central London, property advisors at Strawberry Star can arrange for viewing of a few interesting options. Call our London office for an appointment.
The outlook is more promising for sales and lettings in the prime central London property markets with stamp duty impact now largely absorbed, according to the latest analysis.