What our clients say

We got to work with Richard, and it was clear to us he had experience and confidence in our case. We were impressed also by the speed, regularity and efficiency in the communications we had.

Prime central London properties hit record values

The average price of a property in central London has reached a record £1,818,262, a new study has revealed.

The research, published by the Land Registry, shows that a surge in the final quarter of 2016 pushed prices up by around 3.75 per cent year-on-year.

London Central Portfolio, a property developer in the capital, believes that the rise was caused by investors fighting for a share of London’s booming property market.

It says that in the fourth quarter, transactions rose by 19 per cent compared to the three months period.

Commenting on the statistics, Naomi Heaton, CEO of London Central Portfolio, said: “Having taken a big knock following last April’s new Additional Rate Stamp Duty and the shock of Brexit, evidence of a recovery in prime central London in Q4 is positive news.

“As an international buying market, the weakness in sterling, combined with the Trump-effect and increasing instability in Europe, appears to have drawn investors back to prime central London as a safe haven asset class.

“The uptick has been led, in particular, by Kensington and Chelsea which saw a 24 per cent quarterly increase in prices.”

ELS Legal is a leading residential and commercial real estate law firm based in the heart of London. For more information about the unparalleled legal advice we can offer you, contact us today.

Share this article:Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedInEmail this to someonePrint this page
The following two tabs change content below.

ELS Law

ELS Legal is a legal firm based in the City of London. We are located in the historic and traditional street of Ely Place near Holborn. Established in 1290, Ely Place is today the home of many modern and forward looking legal firms.

Leave a Comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>