Latest London Property News - May 2018
Market Overview
The property markets in London have been lacking clear direction, but it is not bracing for a slump. Looking forward, we expect the outlook to remain opaque until the political situation stabilises, and further clarity is provided on the UK's future trading relationships with the rest of the world. However, whatever the outcome, we expect London to remain a truly global city, continuing to attract businesses, capital and talent from around the world.
The Bank of England said the UK economy has hit a "temporary soft patch" as it kept interest rates on hold at 0.5%. The Bank cut its growth forecast for the year to 1.4%, down from the forecast of 1.8% made in February. The Bank says that cut is almost entirely due to the disruption to the economy caused by bad weather in March. However, Bank governor Mark Carney said in an interview with BBC economics editor Kamal Ahmed that "it's likely" rates will rise this year. In a press conference after the rates decision was announced, Mr Carney said the "underlying pace of growth remains more resilient than the headline data suggests".
New Instructions
Montagu Mansions, Marylebone, W1
A stunning interior designed 3 bedroom 2 bathroom apartment in one of Marylebone's most popular red-brick mansion blocks, benefitting from uniformed 24-hour porterage and a share of the freehold. This would make an ideal purchase for a family looking to have a secure apartment in the centre of town, which has gone under extensive refurbishment and can be lived in immediately.
Available to purchase with a guide price of ￡2,295,000
Further details can be found here: Montagu Mansions
Keybridge Lofts, Nine Elms, SW8
A stunning and luxurious large 1 bedroom new-build apartment (718 sq ft) situated on the 22nd floor with far reaching views over Vauxhall Gardens and towards international cricket ground The Oval. As well as the usual 24-Hour Concierge services, residents benefit from a 15 meter swimming pool and a gymnasium.
Keybridge Lofts is the UK's tallest residential brick tower, and the whole scheme is designed around Manhattan style building using British materials, providing a unique best in class new development for the area. Completion is by Q1 2020.
Available to purchase now with a guide price of ￡815,000
Further details can be found here: Keybridge Lofts
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We now move into our busiest time of the year, with many clients and buyers arriving in London over the summer months, should you wish to sell your property or if you are looking to purchase a property, then you can contact Nicholas Jaffray directly on 020 3475 1745 or email at: [email protected].