Debt Options react to news that London property is still the most competitive in the country.
(1888PressRelease) August 06, 2011 - Property in London continues to defy both all expectations and national trends with positive sales growth, anticipated rent rises and many agents revising their pricing to reflect a surge in demand. Negative equity remains widespread except in London, where prices have been rising against a surge of local and international demand. London property is now high on the agenda for many investors from Asia, often concentrating on new luxury properties.
London's position continues stands in utter contrast to the nation as a whole. It has recently been reported in the media that for the rest of the UK, residential property is likely to enter its twelfth consecutive quarter of negative equity housing withdrawal. Respected financial website thisismoney.co.uk has estimated that as much as 80% of all homeowners who property purchased outside the capital since 2006 are now trapped in negative equity. The outlook for landlords is also poor, with the Royal Institution of Chartered Surveyors (RICS) provisionally reporting four percent of those surveyed expected rents to fall.
By contrast, property in London is experiencing a peak in demand, fuelled partly by overseas investors looking for a reliable return. By June this year, the market had reacted by reaching record levels for asking house prices. Prices increases are at least double those of the rest of the UK. They have been estimated at an average 2.1 higher than the previous year, although in some areas that figure is inevitably far higher. By May this year, the RICS was reporting an overall 6% increase in enquiries to buy residential property in London. However, this figure is dwarfed by the reported surge in enquires reported by central London estate agents, with some reporting an increase of over 50%. Suburban London property is also seeing an increase in demand as overseas investors snap up property in central areas.
The market is also partly driven by solid prospects for would be landlords, or those expanding their portfolio. 16 % of central London landlords have reported to RICS researchers that they expect rents to rise. Overall, 18.5% more London landlords expected rents to rise than those who predicted a reduction. By May 2011, the London Evening Standard newspaper ran a headline stating that London rents were "set to smash through the £1,000 per month barrier". By July 2011, average London rents were reported to be 50% higher than those found elsewhere in the country. Buyers have been quick to recognise the potential of the rental market.
"Some of our most popular Rotherhithe property has been the new, luxury developments. Overseas investors are looking for centrally located London property but only with excellent rental prospects. The better properties come with a host of attractive lifestyle options for tenants and owner occupiers. Direct river views, private facilities like a roof terrace, leisure facilities or even a resident's pier, balconies, designer interiors, galleried receptions are the type of features that will attract tenants" said a spokesman from London estate agents Hastings International.
The full range of Rotherhithe property available for sale and rental can be viewed online, alongside luxury property in Borough and Shadwell at:
Debt Options react to news that London property is still the most competitive in the country. 
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