Post December Election, the London Property Market has seen a flurry of activity that isn’t typical for this time of year. In this post, we explore what does 2020 have in store for the London property market?
Post Brexit Uncertainty
For some time now Brexit has cast somewhat of a cloud over the property market. However, now the 31st January has passed and Britain has left the EU, a new spike of confidence has been created and activity levels within the market have surged. This ‘excitement’ is expected to calm somewhat. While we are still unsure what life will be like after Brexit, so it will be a while before activity resumes normal levels.
House Price Growth
It’s predicted that house price growth will grow gradually at 1% across Greater London this year and 2.5% in 2021. In 2022, growth is forecast to surge by 4.5%.
Where will the hot spots be?
Over the next five years house prices are set to rise by 17 per cent in Redbridge. By 2024 double-digit growth is expected in Lewisham, Barnet, Islington, Haringey and Richmond.
We hope that you have found this ‘What does 2020 have in store for the London property market?’ post useful.
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