London calling, but only a fool rushes in

For investors or those offloading property assets in London, the advice is to keep a cool head in its feverish post-lockdown market.

In much the same way that ceasing market activity during the first lockdown had the effect of creating much pent-up demand in Ireland’s property market, the London market reacted the same way with house prices hitting an all-time high during the summer.

According to Land Registry figures, prices increased by 3.6 per cent in June alone thanks to a resurgence of activity following the Covid-19 related restrictions.

That period marks the highest price growth since 2016, and four-plus bedroom properties are in high demand, driving up their prices by an incredible 9.1 per cent in the past year to an average of
£1.454 million (€1.623 million) .

It is easy to be seduced by such headlines – and many buyers and sellers are. The number of new in-structions on the market almost doubled in September compared with a year ago, according to Lon-Res, so there is huge choice out there for buyers.

Read the full article here.

This article first appeared in Business Post.