UK: Prime London Properties Maintain their Rising Prices

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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.