Resilience is the enduring feature of the UK economy. Strong economic headlines relating to record London employment figures and wage growth and a three-year high in the take-up of central London office space prove that the political uncertainty over Brexit has not affected the employment market.
A shortage in supply of rental property is creating upwards pressure on rents. Together with falling sales prices, average yields in December enjoyed a 6-year high of 3.35%. This compares favourably with alternative investments, including UK Government Bonds. Indications of pent-up demand in the sales market could point to conversion into sales, once clarity on Brexit is obtained.
Throughout this period of uncertainty, one thing stands out. London resolutely shines in global league tables; among others, topping the Forbes ‘Best Countries for Business’ ranking for the second year running. At Golden Venn we believe that this resilience and “desirability” mark London as a sound long-term investment.
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