The latest Knight Frank Prime London Market Survey has revealed a positive outlook for the London property market, with an increase in both buyer and tenant numbers, as well as rising yields. The survey found that the number of prime London buyers increased by 3.4% in the first quarter of 2019, while the number of prime London tenants rose by 4.5%. This is a welcome sign for the London property market, which has been struggling in recent years due to Brexit uncertainty and a slowdown in the global economy.
The survey also revealed that yields are on the rise in prime London, with rental yields increasing by 0.3% in the first quarter of 2019. This is a positive sign for investors, as higher yields mean higher returns on their investments. The survey also found that prime London property prices have remained largely stable, with prices increasing by just 0.2% in the first quarter of 2019. This is a sign that the market is stabilizing after a period of volatility caused by Brexit uncertainty.
The survey also found that the number of prime London properties being sold has increased significantly, with sales volumes up by 10.2% in the first quarter of 2019. This is a sign that buyers are feeling more confident in the market and are willing to invest in prime London properties. The survey also found that prime London properties are taking longer to sell, with the average time on market increasing from 87 days in 2018 to 92 days in 2019. This could be due to buyers being more cautious and taking longer to make decisions about their investments.
Overall, the Knight Frank Prime London Market Survey paints a positive picture for the London property market. The increase in buyer and tenant numbers, as well as rising yields, are all signs that the market is stabilizing after a period of uncertainty caused by Brexit. This is good news for investors, as it means they can expect higher returns on their investments. The survey also shows that buyers are feeling more confident in the market, which is a sign that the market is heading in the right direction.