The latest figures published by the Lands Registry, showed a mixed performance for the London property market in January. Average prices across London fell by 0.2%, with most of the growth coming from East and North London. In prime central London, Westminster performed well with average prices rising by 0.5%.
The anticipated weakening in prices of high value properties was mainly driven by sellers reducing asking prices partially offsetting the increase in stamp duty. On the other hand lower priced properties in the Royal Borough and across London performed relatively well, somewhat mitigating the price reductions for January.
This trend of lower priced properties outperforming high value properties is expected to continue for a few months until equilibrium is restored in the high value segment. This environment is however creating interesting investment opportunities across all segments of the market.
Real Estate Advisory
Property Prices in January
1st March 2015
