London property statistics show there is likely to be a "widening gap" between the performance of properties in the lower tier of the market and the middle and upper tiers across the UK.
This is the view of Lucian Cook, director of residential research at Savills, who noted that rental yields and returns in London and in other parts of the country will drive values in the lower tiers of the housing market.
"[That is] opposed to the middle and upper tiers where values are driven by owner-occupiers and mortgage affordability, which is then a function of interest rates and everything else that goes with it," he pointed out.
This movement could be witnessed over a period "of at least the next five years and possibly the next decade", Mr Cook explained.
His comments come after the latest set of data from the Royal Institution of Chartered Surveyors showed activity in the housing market continued to slow during November, with average house prices slipping further.
London Property Market News
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