14 Sep

London demand to continue to outstrip supply for a decade

London demand to continue to outstrip supply for a decade

Those investing in London property are going to see the market continue to outperform the rest of the UK over the course of the next few years, a new report has claimed.

According to the latest from Knight Frank, over the next decade, there will be approximately 24,000 new houses built in an attempt to meet demand.

However, during the same time, Knight Frank's predictions say that there will be a total of 37,000 people looking to purchase homes, meaning that there will be a higher competition among buyers.

London and the south-east have often seen the best prices in the country thanks to the desirability of the homes there.

"The shortfall in planned housing is around 36 per cent over the next ten years. In central London, which incorporates many of the prime central London postcodes, the shortfall rises to 55 per cent," said Grainne Gilmore, head of residential research at Knight Frank.ADNFCR-1222-ID-801449803-ADNFCR

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