The sale of residential units in Prime Central London, one of top real estate markets in the world, continues to remain stable, according to a research report.
Though the price of houses in Prime Central London are witnessing a gradual fall, data provides evidence of strengthening demand, reflected by a 14.7 per cent year-on-year increase in the number of new buyers registering to purchase across the area in the first five months of 2017.
The number of house viewings increased by 19 per cent over the same period, while the number of exchanges rose by 13 per cent, said international real estate adviser JLL in its report on Prime Central London residential market for May 2017.
LonRes data provides additional confirmation of an improvement of activity in recent months. Their data points to a total of 323 transactions in Prime Central London in April 2017.
Despite the uncertainty predicted in view of the election, there is a real potential for further growth in activity. While exchanges were higher by 13 per cent between January and May 2017 compared to 2016, there was a 36 per cent rise in the number of properties under offer, according to JLL report.
Knight Frank activity data provides evidence of strengthening demand, reflected by a 14.7% year-on-year increase in the number of new buyers registering to purchase across prime central London in the first five months of 2017.