> Sales Market Comment - Summer 2021 | Plaza Estates London
Sales Market Comment - Summer 2021
By Eitan Fox
// Wed 21st
Entering the summer there is a real optimism for the future of the prime central London property market.
The stamp duty holiday is finally being tapered away and whilst the saving of the first £15,000 of this tax has proven beneficial and had a desired effect of advancing the mainstream property market, the ending of this financial government boost, will not affect the prime central London property market, where property prices are at significantly higher levels.
What is more important is the gradual return of the country to the normality that we took for granted sixteen months ago. I have no doubt this will entail some set backs but the spirit that we are open for business and the economy needs to stand on its own feet is encouraging and sends a defiant sign that the vaccine project will gradually allow us to return to a semblance of normality and all the positives that follow.
Indeed at Plaza Estates we have seen a number of overseas buyers very keen to invest heavily in London resulting in a number of transactions over the £5m price bracket.
We feel that this trend of high valued properties being snapped up will continue over the summer period.
Property analysts are predicting growth over the next year of 7% and the last couple of months our turnover of business has reached heights not seen for over 5 years.
We cannot truly predict the future with the uncertainty that the pandemic and any variants may bring but whilst the going is good we must embrace it.
To buyers we say there are still good properties for you to buy and to sellers there is an enthusiasm from buyers, so now could be the perfect time to list your property and look to the future.
Eitan Fox | Plaza Estates | Director
34 Beauchamp Place | London | SW3 1NU
T: +44 (0) 207 581 7646 | M: +44 7974 100 175
www.plazaestates.co.uk | firstname.lastname@example.org