Last week, the Office of National Statistics revealed that house prices in London increased by 9.4% year-on-year to February 2015. Although this rapid acceleration of prices is beginning to level out, London has still out-performed the rest of the country in terms of growth.
Each month, a number of building societies and mortgage providers release their house price statistics including London property prices, but the ONS is the most reliable source for these, as it takes into account average price and house price indices for the whole of the UK. It is calculated using mortgage-financed transactions that are collected via the regulated mortgage survey by the Council of Mortgage Lenders which covers the majority of the UK’s mortgage lenders. The full information can be read here.
Whilst there are signs of a slight re-balancing of the huge increases in prices month-on-month over the past few years, this is likely attributable to consumer reticence ahead of the General Election, and a natural re-adjustment following rises unprecedented since before the economic downturn. Regardless, London property is still a wise investment. The UK is politically and economically stable on a global level, and as an international financial hub, still attracts thousands of workers each year to come and exploit the job opportunities it offers, as well as its enviable attractions and easy access to Europe and North America.
It is predicted London’s population will rise by 13% over the next decade, hitting nearly 9.4 million by 2022 and these people will need places to live.
The team at JOHNS&CO has access to some of the most attractive and prestigious developments in London, many of whom are considered ideal homes for workers moving to the capital. These schemes are based in excellent locations with outstanding transport facilities and offer on-site amenities including gyms and swimming pools and 24-hour concierge services.
Many of the homes and property available with JOHNS&CO are already completed, such as those at 21 Wapping Lane and New Providence Wharf, meaning tenants can move in straight away. If looking at a longer term investment, there are several developments, such as Royal Wharf, London City Island, West Hampstead SQ and especially Embassy Gardens which is nearing completion.
To find out more about sales opportunities contact JOHNS&CO Sales team on +44(0) 20 7118 0200, or e-mail SALES firstname.lastname@example.org.