The number of buy-to-let investors in central London's prime market is falling, while homebuyers account for 45% of all purchases
Prime central London has seen a decline in the number of buy-to-let investors entering the market, according to new data from Land Registry.
The number of house sales increased in the second quarter of this year, while flat sales decreased. Meanwhile the number of homebuyers account for 45% of purchases in the second quarter, a marked increase on the same period in the previous year.
According to the data from Land Registry, properties priced within the £5-10 million price bracket saw the most sales.
London's prime market has seen price reductions in recent months, and this has contributed to the boost in sales market activity.
Chief Executive of London Central Portfolio, Naomi Heaton, said: "As international homebuyers identify attractive discounts on top-end properties, particularly as sterling remains weak, they have actively re-entered the market, snapping up deals in London’s best addresses."
She continued: "In stark contrast, buy-to-let investors have remained on the side-lines trying to call the bottom of the market, resulting in a much-reduced share of purchases."
Despite ongoing uncertainty as a result of the Brexit negotiations and an increase in stamp duty on high-value properties, buyers from overseas still view central London property as a safe investment and a desirable location for buying a home.
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