There are encouraging signs of stability in both the sales and rental markets in central London, despite the continued uncertainty as the UK negotiates its way through Brexit.
Although sales transaction volumes remain relatively low, interest has increased in the market as a result of the favourable climate provided by a weaker pound. While the pound recovered slightly after the announcement of the June general election, central London still provides considerable discounts for foreign buyers. The softening of prices by sellers who are starting to adjust prices downwards and to accept discounts is further improving market interest.
At Golden Venn we are still exercising caution but believe that the exchange rate advantage for most major currency buyers, together with price movement, means that now is a good time to buy. Once the outcome of the Brexit negotiations becomes clear, the market will bounce back very quickly and this pocket of opportunity may close.
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