Central London conditions encourage suburbs move
Conditions in the Central London property market this year offer the perfect opportunity to cash in and move out of the capital, according to Cluttons.
The Olympics are expected to lead to stronger than usual growth within prime London property, while prices across the UK continue to struggle.
In its Residential Property Forecasts Q1 2012, Cluttons predicted the majority of the two-to-three per cent increase expected this year will occur in the first half.
Sue Foxley, head of research at Cluttons, said: “London homeowners, who have been biding their time before making a move to the suburbs, can benefit from perfect conditions over the next three months.”
She added that while the private rented market in the capital got off to a slow start in 2012, demand has improved and conditions will continue to drive growth in the sector in the coming years.
A sustainable rental growth of one per cent is expected this year.
Lloyds TSB recently found property prices in the area surrounding the Olympic Park have increased by £60,000 since it was announced that the capital would be receiving the games.
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