According to the London Central Portfolio, it believes the various assumptions that prestigious Central London property prices are falling is false.
Additionally, the top 20% of the property market is stationary, with rising prices in all of the remaining sectors.
Within the top 10% tier of the market, the properties prices are approximately GBP £6.5 million and on average, the stamp duty has doubled. These properties have experienced an 8% per cent decrease in price due to the peak in the market in the third quarter of 2014.
According to various sources, UK home ownership fell to 64%, the lowest percentage in the last 30 years. Moreover, in 2017, private renting beat mortgaged home ownership in the city of London.
Moreover, Airbnb are putting a considerable amount of pressure on the private rental market. The business model permits owners to rent their houses on a nightly basis and so, minimizes accommodation from the long-term rental market although maintaining high purchase prices.