London property remains resilient despite 2017 headwinds
- 21st December 2017
- Property Tips
As the value of private housing in the UK tops the £6 trillion mark, property continues to be a sound asset
As 2017 draws to a close, the London property market ends the year, considering all it has faced, on a solid note. Despite the continuing headwinds of Brexit and a hung parliament buffeting the economic and political landscape, bricks and mortar remains relatively robust.
Despite any current concerns over the outlook for the housing market, since the millennium long-term, professional landlords have seen annual total returns of 10% per annum. And just recently, new research has shown that the value of private housing the UK has increased by £1.9 trillion over the past ten years - and now is worth over £6 trillion in total!
Much of that growth has been led by London, highlighting sustained strength of demand as the UK’s population grows, and as the capital continues to attract bright and talented professionals and students from both the regions and overseas. The vibrant lifestyle on offer, together with thriving jobs market, infrastructure improvements and good quality housing stock to rent or buy are as attractive as they ever were – Brexit uncertainties notwithstanding.
Stephen Ludlow, chairman at ludlowthompson, says: “2017 has confirmed what we already know – that despite any political issues or economic fluctuations, London’s allure endures and its property market still has a lot to offer.”
“As we look ahead, challenges remain, but London property is nothing if not resilient. Many factors are likely to continue to buoy demand. London will always be the lead job market in the UK and as such will continue to pull in graduates and professionals looking to rent and buy near where they work."
2017 has confirmed what we already know – that despite any political issues or economic fluctuations, London’s allure endures and its property market still has a lot to offer
FREE & INSTANT PROPERTY VALUATION
IN JUST 60 SECONDS