However the increase in rental returns which is fuelled by a shortage of stock, means that people are starting to see improved returns on rental investment property.
With a political revolution taking place in the Houses of Parliament you would be forgiven to think that the summer market was a dull, dire affair with very little activity.
We are delighted to report the summer market for sales was active with Plaza Estates conducting steady business throughout.
There are several reason for this. The weakened pound against foreign currencies makes Prime Central London property attractive. The correction in value of property, now is more in line with buyers expectations. Political unrest and economic uncertainty in many continents have focused people to return to the safe haven of London Property.
However the increase in rental returns which is fuelled by a shortage of stock, means that people are starting to see improved returns on rental investment property. In the past if you were getting a 2% return people were accepting of this as their money was in a secure investment. But now rental returns are 3% - 4% on long term lets and the feeling of stability is returning.
This has encouraged the investor to return to the Prime Central London market. However, a word of caution the shortage of property in both the sales and lettings sector means the volume of activity will remain mediocre but as demand outstrips supply property prices will increase for sale and continue to rise for lettings.
Everyone has tried to second guess when Brexit will be implemented, although my fear is it will not happen whilst the few in Parliament refuse to execute the wishes of the masses.
It is easier to predict, stability returning to the sales Prime Central London property market, over the next six months.
If you would like to discuss your future property move, either to buy or sell, we would be pleased to do so in the strictest confidence.