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Jun 2023

The health of world economies dictates the demand for London property

The health of world economies dictates the demand for London property

We have much interest from people buying or renting from overseas and we’ve seen a large growth in interest from America and applicants from a dollar-based economy. There is continued interest from the Middle East, Asia and the Far East, linked to people moving from Hong Kong, and from where economies are growing. People buying in London really do create a snapshot of where economic activity is positive and conversely where there may be political instability as well. Interest from UK buyers is also strong.

Landlords were seeing strong competition among tenants in the second half of last year where properties were achieving 100.5% of their asking rent on average in September 2022, according to property data provider Lon Res. Many landlords are facing higher interest mortgage rates which means they are achieving higher rents to compensate.

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