International investors buy up London properties
The London property market continued to attract foreign investor interest during last month according to several leading sources.
In the prime central London residential real estate arena transactions in the sale and lettings sector increased due to heavy demand from buyers from the Middle East.
The price of property in the upper brackets has also been climbing due in part to the Stamp Duty increase effective from 5th April on properties priced at £1million and above. There appeared to be a rush of real estate sales prior to the tax increase.
City agents blame low stock supplies for the continuing rise of house prices, in many cases there have been multi buyers going after the same property and have bid upwards in the hope of securing the sale. With spring now in full swing agents are hoping for an influx of vendors ready to move onward and upward.