priME CENTRAL LONDON
In the Prime Central London sales market there was a rebound in transactions in Q4 2016 following two quarters of subdued trading. On average prices fell again in Q4 but, very importantly, the price declines have diminished during the course of 2016. We expect transaction levels to be notably higher compared with 2016 and we predict that prices will remain broadly flat during the year ahead.
In the lettings market demand was robust during Q4 following the usual surge in activity in Q3. Encouragingly, much of the excess stock was soaked up during Q3 and Q4 2016 meaning that the market heading into 2017 is far more balanced between demand and available supply. However, rental values still fell again in Q4. We are forecasting rental values to remain stable during 2017 before pushing higher in 2018.
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