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Sales Market Comment Winter 2018 by Eitan Fox

By Eitan Fox  //  Mon 22nd January 2018
The encouraging increase in business during the last quarter of 2017 and the already favourable activity in 2018 means the forecast for this year is much brighter.
Last year brought new challenges for the prime central London (PCL) residential property market. However, I am pleased to report the number of properties Plaza Estates sold remained robust. This was due to committed vendors and buyers willing to take a mid-term view on projected capital growth.

Looking ahead to the coming year there are some real signs of optimism that activity will further improve.

The FTSE 100 which is made up of mainly overseas companies has reached record levels and commodity prices have surged, which displays that investor sentiment is more positive. Historically these positive areas of upturn have resulted in renewed investment in the PCL property market.

The encouraging increase in business during the last quarter of 2017 and the already favourable activity in 2018 means the forecast for this year is much brighter.

There will still be challenges ahead with the uncertainty of Brexit but the apprehension surrounding these misgivings does feel more accepting.

In the last couple of years the market was shocked by the attack on Stamp Duty but with the government not increasing this tax in 2017 it feels that the rates are working through the system to a level of toleration.

Plaza Estates is a family owned independent business which is able to navigate through challenges far easier than the multi corporate companies. With greater flexibility and a tighter more dynamic team of experienced staff, who have built up desirable contacts and with our company ethos “we will go the extra mile” we are confident the service we provide will continue to be exemplary.



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London
W2 2JE
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London
SW3 1NU
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