Happy New Year to those following this blog! It has been a difficult end of 2010 for the London property market, but thankfully the year is over, and it looks like more and more people are looking ahead now with optimism.
Despite the budget cuts that will start biting this year and the increase in interest rates that we will see for sure, the real economy is rebalancing and businesses in London seem to think that 2011 will be still difficult, but better thant 2010.
We are seeing increases of about 15% on our available stock of property for Sale at Outlet, enquiries are still weak but it looks like more buyers are ready to proceed with their purchasers after months and months of looking around.
Overseas buyers are still very active, and we expect that the goverment will be able to persuade the big banks to lend more money this year, easing the credit conditins.
Also, it looks like city bonuses will account again for around £7 billion this year in the City, many of those will go to purchase property.
Well, the year has just started, but I can't wait to see what's coming...
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