International investors have continued to support the prime central London property market, the latest report claims. As a result of a hiring spree in the financial and professional services sectors foreign buyers are still flocking to the UK capital, the September 2010 market update report from Black Brick said.
The housing market review sits in direct contrast to the recent negative predictions which have been forecast, although Black Brick believes that "it is premature to be talking with any sort of conviction about a looming crash in UK house prices".
Despite this, all the recent UK housing data and analysis has pointed to looming price falls and a bleak future for the real estate sector in the country. However, the report added that it is "difficult and dangerous" to draw long-term conclusions from "potentially misleading data points"
"Given the overall backdrop we don't believe that there is the potential for any sharp short term gains in prime central London property but property has never been an asset class for short term speculation," the report said. "What prime central London property does offer is diversification and a degree of protection
away from traditional asset classes."
- Tuesday 28 September 2010