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Home > News > Sales Market Comment - Winter 2022 | Plaza Estates London

Market Comment - Winter 2022

By Eitan Fox  //  Wed 19th January 2022
The last quarter of 2021 and our second year of “living with Covid” year saw the Prime Central London sales market react quite positively.
The last quarter of 2021 and our second year of “living with Covid” year saw the Prime Central London sales market react quite positively.

In between variant strains of Covid-19 there was a real appetite for investors to return with the onset of rising inflation and limited supply of property.

The return of overseas students occupying all available rental property meant there has become a huge shortage of stock. The return of this demand and the increase in rental values has meant the investor has seen a gap in the market for quality 1 and 2 bedroom flats. We received an influx of enquiries from investors at the end of 2021 and the beginning of 2022.

There was also a great demand for family flats of 2000 plus sq ft. This demand also faced a lack of stock and we managed to obtain multiple bids on a number of properties.

The demand for freehold houses also remaines strong, a continuation from 2020.

Globally, political and economic unrest due to the pandemic has pushed people to focus on London property as a secure and a safe haven to invest their money.

All of the above resulted in Plaza Estates having an extremely successful trading year, back to pre-Brexit levels.

As we move into 2022 we are filled with optimism.

Travel restrictions have been eased and the English government has taken a measured approach between the safety of the people and allowing the wheels of industry and commerce to continue to turn.

The fact that Europe and other continents have taken a more draconian policy with the latest Omicron variant has provided many with confidence that London remains forward thinking and open for business.

With travel restrictions lifted, the red list scrapped and isolation period shortened this will continue to encourage overseas buyers to visit London.

Prime residential property in Central London still reflects value for money with values still lower than the height of 2014.

Limited stock levels will continue to be a massive issue especially in the most prime of areas for those looking to buy.  We would recommend that buyers are proactive and look to invest as soon as possible.

We wish everyone a good and safe 2022

Offices at

Marble Arch
29 Edgware Road
W2 2JE
f: 020-7258-3090
34 Beauchamp Place
f: 020-7581-7005