Wider London prices have been sluggish for years too. I’d definitely see rate hikes as a culprit there.
But those non-prime areas have seen prices up, whereas prime has actually fallen back. That’s a big difference.
The bottom line is foreign buyers have long been the pivotal players in prime London property. Both as investors and as residents. And in recent years they’ve not been very keen to buy.
Whether they’re coming or going and in what numbers, the prices don’t lie.
Primed for recovery?
It’s hard to be super-optimistic about the near-term future, too.
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