Is the London property slowdown a myth?
“Luxury no longer means profit – or at least you can no longer presume so. London’s hugely diverse property market is undergoing a serious readjustment, with the traditional old heart of ‘prime’ London under pressure” states Andrew Bridges, managing director of Stirling Ackroyd. With new stamp duty reform and fears of Brexit, the luxury property market is taking a hit.
With many of London’s first time buyers unable to afford to buy in the capitals affluent areas, they are subsequently looking elsewhere to areas that have not often been highly regarded. It’s because of this that areas like Hackney are being labelled as up-and-coming and redefining what is seen as ‘prime’ location.
Property Reporter takes a closer look at the figures and really gets you questioning whether the market is slowing down. Click here to read what you need to know now.