Lon­don leads way to mar­ket re­cov­ery

Yorkshire Post - Property - - PROPERTY -

A GAP is widen­ing be­tween Lon­don and the re­gions as the dy­nam­ics of the Lon­don econ­omy and over­seas equity im­pacts on the prime hous­ing mar­kets, ac­cord­ing to Sav­ills.

Prospects for fu­ture re­cov­ery of the prime re­gional prop­erty mar­kets will de­pend on the strength of lo­cal economies and equity com­ing out of Lon­don.

Sav­ills has re­vised its 2011 fore­cast for Lon­don up from -0.1 per cent to a sun­nier +8.0 per cent but they say that prime re­gional val­ues are now ex­pected to fall by -3 per cent across the year com­pared to an orig­i­nal for­cast of 1.5n per cent.

Ben Prid­den of Sav­ills, York, says: “We are wait­ing pa­tiently for the pos­i­tive growth cur­rently ex­clu­sive to Lon­don to reach us.”

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