London development
Hope is on the horizon for London?s real estate market following Brexit, with a 22.1 percent rise in the number of new prospective buyers, according to real estate consultancy Knight Frank.
Knight Frank’s Prime Central London Sales Index for August revealed the increase in interest since the European Union referendum compared to 2015. Buyers? interests in the area are growing despite the dramatization of Brexit, with users viewing listings online 20.8 percent more since last year.
?We had a record month for lettings in August, indicating that the market is very strong,? said Tom Bill, head of London residential research at Knight Frank. ?The most rapidly growing area of demand is within the sub-£1,000 per week market, although we have also seen a flurry of activity in the super-prime market. ?We are seeing good supply levels in the prime London market, which means that tenants are in a strong position, although demand is on the rise. Demand also remains high across our new development offices.?
Climbing interest

As online viewings are growing, in-house viewings are climbing at an even faster rate with an increase of 49 percent compared to 2015. Addresses seen under contract since in the eight weeks since Brexit grew 19 percent compared to 2015.

The increase in visits does not come without a price – values in property are dropping, primarily in Chelsea. Housing costs are on a decline with a 1.8 percent drop in price growth.
Since 2009, this...