London property purchases 'on the up'
For the first time in two years investment in London property has
gone up, which is a sign that the market is recovering, it has been
claimed.
Figures released by property agents Cushman & Wakefield
(C&W) show that during the second quarter of 2009, £1.43
billion worth of deals were completed in central London.
The Telegraph reports that overseas buyers are heading to the
capital in search of cheaper properties, available as a result of
the economic crisis.
Also adding to the attraction of a London property is the current
weakness of the pound.
Clive Bull, head of central London investment at C&W, said that
the improvements are not a "false down" as there is £275
million worth of stock still on offer in the West End.
In related news, Hirch Way & Ambler recently revealed that the
high-end property market is improving in the UK and in some cases
there is a shortage of more top-of-the-range stock.
