Unoccupied property insurance clients must be wishing they could move their houses to central London. WA Ellis, the central London agents report that the super prime end of the market is becoming more and more active in central London. They say “the uber rich will now rent or buy due to the lack of stock on both the lettings and sales markets in order to secure their chosen property”
If you would like to get a feel for the top end of the London property market take a look at the WA Ellis blog on their website. On October 7th they blogged that a block of 10 flats they brought to the market 2 weeks earlier had all been let at the asking prices.
They have also noticed an increasing amount of British people renting. They say that the dominance of Americans in the prime central London market has reduced in recent years- down from something like 70% to nearer 50%.
The WA Ellis website is at www.waellis.co.uk