Happy Customers

"After inheriting a property from my late Mother, I approached National Homebuyers. I had been caring for my Mother for a number of years and the thought of selling the property using an Estate Agent was a hassle that I did not feel able to cope with. The sale of the property was a difficult […]"

Mrs J, Lydney, Gloucestershire

"We wanted to up-size to make room for our growing family, but needed to sell our flat first and National Homebuyers enabled us to do this quickly. They simplified the whole process of selling and enabled us to purchase our dream property! Are Luxury London House Prices Falling?"

Mr & Mrs H, Space

Are Luxury London House Prices Falling?

The West End of London has long had a reputation for exorbitant wealth and opulence. A reputation that was substantiated last week by the sale of an 11ft by 7ft run-down car garage in Chelsea that was sold for £550,000. That’s more than double the UK average house price stipulated by Rightmove of £271,669. In fact, a combination of a stronger pound against the dollar and increased office rental costs have recently seen London leap-frog Hong Kong to become the world’s most expensive city. The stronger pound and the threat of the mansion tax has also meant, however, that London’s premium properties have increased by only 3% this year compared to the 41% appreciation since the financial crash of 2008…

… So, is the luxury london property bubble about to burst? And what does that mean for the rest of us?

There has, after all, been compelling arguments that suggest that London’s luxury developments are responsible for saving the UK’s mainstream housing market. London is home to more millionaires per capita than any other city in the world and has more billionaires, 72, than any other city in the world, edging out New York and Moscow. The recent crisis in Ukraine, moreover, has seen even more Russian – and Ukrainian – capital flow into London amid fears of international sanctions.

The aforementioned increase in the strength of sterling and threat of a mansion tax, alongside a number of other economic and policy changes threaten to change the way business is conducted in the capital. To continue, this could potentially reduce the number of foreign investors in London as they seek out more fertile cities and emerging markets worldwide. There are economists and academics who believe London’s property market could unravel, but there are also those that believe domestic concerns in other countries could sustain or even increase the amount of money pouring into London, mostly from Asia. Either way, the UK housing market as a whole remains inextricably linked to events occurring in London so we will all be affected. How things will unfold is still unclear, only time will tell…

 

National Homebuyers – We Buy Any House

National Homebuyers are a UK based property buyer who really do buy any house or property! In fact we will buy anything, absolutely anything! Whether it is a house, flat, bungalow or park home we will buy it!

If you are looking for a fast house sale then we are here to help you. Our team of property experts are always on hand to share their expertise with you and help you achieve you aim of selling your house fast in a time scale that suits you and not us. So if you want a sell house fast service then give us a call on 08000 443 911.

Get your no obligation cash offer now by using the Get Offer on the right hand side of this page and take the hassle out of selling your home!

Homebuyer Man is the public face of National Homebuyers’ expert property team, keeping up to date with all the latest industry news, property trends and market information.

Homebuyer Man’s experience in the property market is unmatched, providing expert information and exclusive insight on all things property, whether that be mortgage advice or drilling down into the best times to buy and sell in different areas across the UK. With more than 15 years’ experience, there isn’t much Homebuyer Man doesn’t know when it comes to the property market.

I’m a regular face on some of the country’s most popular TV channels including ITV, E4 and Nickelodeon.

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