23 Sep

Supply constraints mean "robust" performance in London

Supply constraints mean "robust" performance in London

The "inherent supply constraints" of housing in central London will always lead to a "robust" performance in the area, according to one property expert.

Hugh Best, investment manager at London Central Portfolio, explained how the global desire to hold bricks and mortar among areas such as the Royal Borough of Kensington and Chelsea and the City of Westminster leads to a constant expansion of the potential market against a background of limited land development potential.

His comments follow the release of figures from Primelocation.com, which revealed that asking prices rose by 1.42 per cent in August and by 4.83 per cent in west and south-west London.

"As investors return, it is likely that it will be this market that takes up the gauntlet," stated Mr Best.

This news comes after Knight Frank recently reported that prices for residential property in central London rose for the fifth consecutive month, by one per cent in August.

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