23
Sep
Supply constraints mean "robust" performance in London
The "inherent supply constraints" of housing in central London will
always lead to a "robust" performance in the area, according to one
property expert.
Hugh Best, investment manager at London Central Portfolio,
explained how the global desire to hold bricks and mortar among
areas such as the Royal Borough of Kensington and Chelsea and the
City of Westminster leads to a constant expansion of the potential
market against a background of limited land development
potential.
His comments follow the release of figures from Primelocation.com,
which revealed that asking prices rose by 1.42 per cent in August
and by 4.83 per cent in west and south-west London.
"As investors return, it is likely that it will be this market that
takes up the gauntlet," stated Mr Best.
This news comes after Knight Frank recently reported that prices
for residential property in central London rose for the fifth
consecutive month, by one per cent in August.
