Best Investments UK – Part 2
What makes this news even better for HULT PCL investors, is that the Zoopla report also found that the best activity at the higher end, was from deals being made in and around London.
Richard Donnell, the research and insight director at Zoopla, stated that “Housing market conditions remain unseasonably strong.” Even in the face of a prolonged economic recovery, because property shopper’s desires are surpassing the available inventory, Mr Donnell expects to see a continued moderate price growth this year.
HULT PCL’s position in the Central London area is benefiting most. The strong activity in the luxury segment helps boost average sales prices; affluent families do not feel the same financial impact from the lockdowns that were required earlier this year. This has resulted in a wave of higher-end listings, and in turn driven up the average Zoopla asking price by 8% when compared to last year.
In London proper, prices rose by 2.1% in July compared to July last year. This increase marks a significant turnaround for the city, which had endured years of a price slump after both the 2014 and 2016 stamp duty hikes that caused a pumping of the buyIng breaks by many. The Holiday has lead to a savings for buyers.
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