The Prime Central London market, a prestigious property asset in London, continues to remain at its peak with buyers and investors showing tremendous interest in the area.
The Prime Central London Sales Index by property advisor Knight Frank shows that the number of new prospective buyer registrations during the first three months of 2017 hit its highest level since the first quarter of 2014. The number of property viewing levels during the first quarter of 2017 was 28 per cent higher when compared to the corresponding period in 2016.
The sharp increase is partially explained by the growth in new applicants but also the ability of buyers in a slower market to view properties multiple times before making an offer. The evidence continues to point to improving demand and a bottoming out of price declines this year as buyers and sellers adapt to higher rates of stamp duty, Knight Frank said.
The Knight Frank Prime Central London Index, established in 1976, is the longest running and most comprehensive index covering the Prime Central London residential marketplace. The index is based on a repeat valuation methodology that tracks capital values of prime central London residential property.
Knight Frank's Prime Central London Sales Index has tracked the performance of London's luxury property market since 1976. Compiled monthly, the index is based on the valuation of a comprehensive basket of properties throughout our central London office network and is based on actual sales evidence.