Property expert Kay & Co released its forecasts about the Central London property market in 2016.According to the Kay&Co study, house prices and rents will increase in 2016 due to Goverment’s housing policy agenda with supply issues in private housing market.
It is stated that by 2025 house prices in the UK will increase by 50 percent and rental values will also climb by over a quarter in the article.
“With the US recently raising interest rates for the first time in almost a decade, people are cautious as to when this will happen in the UK. There are mixed thoughts, with some economists not expecting a move here until late 2016 or not even until 2017.” stated in Kay&Co’s article.
Kay&Co expects to see the sub-£1.5 million market continuing to be the busiest sector, especially among domestic buyers.There is still demand for super-prime homes from Middle Eastern and Chinese investors, according to the experts.” Given recent enquiries, we are of the opinion that South American and Indian buyers will come to the forefront of the super-prime market and keep prices buoyant.” said Kay&Co experts.