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London’s luxury property market slumps and Greater London market grows ahead of EU referendum

It’s everywhere on the news and on the tips of people’s tongues…the EU referendum is sparking debate on a global scale and its impact on the property market is one element leading the way.

Looking at the figures, annual house price growth in May slowed to 0.1% in prime central London – the lowest rate since October 2009.

According to leading estate agent, Knight Frank, the forthcoming EU referendum is weighing heavily on the London luxury property market, prompting buyers and sellers to postpone decisions until after the 23 June vote.

Prices in Knightsbridge dropped by 7.5% in the year to May, while values in neighbouring South Kensington and Chelsea were down 4.6% and 3.5% respectively. Several areas were flat, but prices in Islington rose 7.4%. Have property prices hit their peak?

Well, perhaps they have experienced a slight price ceiling in the capital, but the truth is that demand to live in London is growing at a huge pace. However, the other truth is that first time buyers can simply not be expected to find £600,000 to buy an ‘average’ house in London.

We recognise that growing prices are a huge problem for young working Londoners, and therefore we have channelled our efforts into the growing Greater London market.

We have developments in property hotspots such as Croydon, Epsom, Sutton and Chertsey. All offer excellent transport links to zone 1, brilliant town amenities, and most importantly, affordability!

Our apartments are design-led, fitted out with the highest quality appliances and start at just £199,950

On top of all of that, our flats benefit from extensive resident facilities such as sky gardens, residents lounges and cinema rooms.

Inspired Homes have help to buy in place, which means that one of our apartments could be yours for just a 5% deposit.

To find out more, call our team on 020 8688 6552.

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