Outlook for property prices in London...

In the press today that generally there is the opinion that London property will hold up well this year.

The prediction is that there will be a rise of about 5% in prices during the course of the year.

The things that are helping the price stay buoyant are that the pound is taking a hammering in the currency markets, so many European buyers are responsible for keeping prices up.

This coupled with low interest rates which look set to remain in place for some time to come are combining to make London property quite attractive.

Re : Outlook for property prices in London

I have lived in London all my life, and the prices have gone up and up over the years and I see no reason why this won't continue to be the case.

It is incredible to think that the property you have had for about 25 years has gone up so much in value.

Infact many people I know who live in the same area as me have actually "made" more money on their property increasing in value in the last 15 years than they have earnt at work during that period, although of course they would have to sell to actually make that money unlike earnt income. Still it does make you think - buying a property in London I think will continue to be a safe bet since so many people want to live here and property is at a premium.

Infact with the commuter belt seeming to get bigger and bigger all the time then I think anywhere within a realistic commute of London is pretty much safe over the longer term in terms of having a house price that steadily goes up and up.

Re : Outlook for property prices in London

Hi Mary

I know what you mean - the price rises have been pretty insane and the experience of those living in and around London in 'posh' areas such as Epsom whereby the property has made them as much as their salary is quite a common comment that people have made.

I also suspect you are right that with London being such an important international city it seems unthinkable that the workforce there isn't going to do anything other than increase, so the more attractive family commuter belt areas should be fairly safe pricewise in the coming years.