London Property News

Bloomsbury Property Market Report

Author: Callum Roberts Thursday, 14 July 2016

Callum Roberts Residential Lettings team have seen a sharp decline in rental inquiries from applicants from outside the UK. It seems that our recent vote to leave Europe is having an immediate effect on our local areas property market. How widespread is this decline outside of Bloomsbury?

It may be the case that when the dust has settled and the framework for the UK leaving Europe is agreed by our Government and then translated to the general public and overseas, we may find the market having some form of stabilisation.

Our Callum Roberts residential sales team are struggling to find stock to sell. This shortage of properties has helped to keep prices relatively high and the recent Brexit vote has not had an effect on prices, due to the shortage of stock generally. We will wait to see if we have a steady flow of investors looking to cash out of the residential market.

The biggest factor that is having an affect on the market is the high stamp duty levels, which has resulted in a fall in the number of buyers registering with us to buy.

Maybe, with the sharp fall of the value of the British Pound, we may find that we will have more overseas investors looking to buy property here in the UK.

Bloomsbury represents good value for money and is close to both the City and the West End, and is surely a safe haven for property investment at this time of uncertainty.

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