Research produced by London agent Hurford Salvi Carr in their Midtown, City and Docklands Residential Review 2008 reports that there is a strong chance that the number of property transactions will slowly start to increase in the second half of 2009.
Buyers, many of who are currently in rented accommodation will be tempted back to the [...]
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The Sales Market 2009
We see no reason why confidence will return to the sales market in the first half of 2009, given the global downturn. Midtown, City and Docklands will be affected by the consequences of the mutation of the banking crisis into recession and the resultant impact on job security and employment numbers. City [...]
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Buy-to-let investors, investment clubs and other categories of private investor were squeezed out of the market in 2008 by the radical curtailing of bank lending. In the first half of 2008 there was very little
investment activity at all in Midtown, City and Docklands. In the second half, however, vulture funds which had been expected to [...]
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Residential rents continued to fall in the second half of 2008 due to unprecedented fallout from the financial sector reported in the Market Overview. This was not due to lack of demand, which in Midtown and City was at record levels, but rather to over-supply of units due to the near cessation of the sales [...]
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In terms of market segmentation, the falling market has increased the differentiation of the three sub-markets, as follows.
• In Midtown there was sales activity where it merges into the West End, especially at the top end of the market for flats at or around £1 million. Here the profile of buyers is diverse including authors, [...]
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Barbican estate agents can in found in central London, EC2. Location near Old street tube station, Barbican is a stones throw away from trendy East London area Shoreditch which has a bustling market, some great pubs and a vibrant music and art scene.
Barbican is both vibrant and tranquil. Although this may seem like a contradiction, [...]
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TRANSACTION LEVELS ‘BUMPING ALONG THE BOTTOM’
In the second half of 2008 the sales market was characterised by a historically low level of activity. There were fewer properties on the market because:
Discretionary vendors avoided selling in a falling market;
Vendors elected to rent out property through the downturn in salesprices, with a view to selling at some [...]
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A year ago we reported that the economic difficulties then emerging were better described as a “banking crisis” than the “credit crunch” or “credit squeeze”. This was in the aftermath of the spread of the sub-prime mortgage contagion from the US to Europe and the rescue of Northern Rock by Her Majesty’s Government in September2007. [...]
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