Experts chime in on how London made a rebound in the residential property market in 2020 and what's next to come.
The post Riding The Rebound – London’s Real Estate Market appeared first on LUXUO.

New certainty in the post-Brexit situation boosts activity in London’s real estate market. A three per cent tax on foreign buyers of homes in the UK that were included in Boris Johnson?s Conservative party?s manifesto ahead of the election saw a rush of sales in London?s luxury property market during the fourth quarter of 2019. A surge of deals on London?s most expensive properties shot up by 78 per cent compared to the same period a year before with heightened activity in home sales across London?s priciest markets. As 2020 is subsiding most of the uncertainty after the reach of the Brexit exit agreement, favourable factors are coming together for a buoyant spring market, releasing the pent-up demand for luxury properties. Artist’s rendering of the life and buzz in the vicinity of Newham’s Yard South, London, UK.
Clarity Driving Demand
After a period of prolonged political uncertainty that culminated in the Brexit exit agreement and the election, the uncertainty shrouding London?s residential real estate market has been lifted, with a return to growth in the city?s prime neighbourhoods.  The rise of properties listed by new sellers has been steadily increasing since December 2019, while the average asking prices have increased by 2.1 per cent, accord...