Adam Challis, JLL and Lucy Parken, J.P. Morgan Asset Management discuss the resilience of London’s residential market and the impacts of recent political events and the Brexit negotiations ahead with J.P. Morgan Private Bank's Head of EMEA Mortgages. The video addresses the supply and demand for London property, the long-term outlook for the UK property market and specifically how Prime Central London residential is performing.
Despite the headwinds, there are reasons to be optimistic about the investment potential of the UK property market over the long term.
1. Supply is limited and demand is stable, but price sensitive. There is a supply shortage at the luxury-end of the market as vendors have withdrawn from the market during this period of uncertainty.
2. Although sales volumes were down markedly in 2016, very few other asset classes have proven to be as resilient over the long-term.
3. The economic future of the UK is less certain due to its impending departure from the EU, but London remains the preeminent global city in Europe and continues to attract top firms and top talent.