'Modestly priced homes' entering London property market
24th May 2012
There has been a steady increase in the number of homes entering the London property market, particularly on the periphery of the city, one analyst has pointed out.
London property expert Nigel Ellis said there has been an emergence of homes in the eastern side of central London along the canals, with many of these fairly modestly priced and likely to appeal to a wider variety of prospective buyers.
"There are lots of developments there and they are mostly aimed at the lower end of the market at about the £350,000 range. In more central London there are just the multi-million pound big family homes," he added.
His comments followed the publication of a new report revealing that owners of smaller central London apartments are beginning to sell up in order to monetise their assets.
This, in turn, is boosting the supply of smaller properties such as one-bedroom apartments and studios at the lower end of the market.
Mr Ellis commented: "As an overview, I would say that it is probably true in the sense that there are a lot of bigger developments around the peripheries - mainly in the east - that will skew the figures."
However, he noted that there is only limited space and room for development in central London at the moment.
Posted by Staff Writer: Ewan Robertson
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