London remains a property price 'safe haven'
30th Aug 2012
The market for properties for sale across the UK has been seeing falling or stagnant prices ever since the start of the financial crisis in 2007. However, in spite of this, there is one area of the country which has continued to perform well.
According to Ed Mead, director at Douglas & Gordon, London still remains a "safe haven" for those who are looking to invest in property because competition to buy houses in the area drives prices and keeps them high.
The main reason for this is the fact that supply in London is far outstripped by demand for homes. There are also many people looking to get into the market from overseas as property investors.
Mr Mead said that although it is the case that prices are not always going up, much of the time they will remain at least steady, as they are doing at the current time.
"On that basis, I think that more of the same is what is likely. What is going to suffer in a continuing vein is volumes, which are now less than half what they were five years ago and are likely to continue on a downward trend for the time being."
Posted by Staff Writer: Ewan Robertson
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