Competition between international and domestic buyers in central London is helping to create the "ideal environment"
for sellers, research from Cluttons has found.
James Hyman, partner for residential sales at Cluttons, said: "Activity levels in Central London are now picking up rapidly as buyers recognise that price growth is set to continue for the foreseeable future. They are keen to buy sooner rather than later, when the market is likely to be even stronger."
He added that real estate in central London has proved itself to be the only stable investment
throughout the recent downturn, with an increasing number of buyers keen to increase their exposure to it.
Cluttons added that demand levels across the capital rose by almost 50 per cent during March and April when compared to the same period last year. Prices are also exceeding the mid-2007 peak by up to 20 per cent in some cases, as buyers compete for the best properties.
Meanwhile, the Worldwide Property Group's April confidence tracker survey has indicated that property remains the investment of choice for many.
- Friday 27 May 2011