Adrian Black delivers critical property market insights and the influences, behaviour and money driving them.
When we look back we will see that 2014 was an exceptional year for spending on property in West Prime Central London.
In spite of the upcoming general election, spend in the area for this quarter will be at around normal levels looking back over the last 10 to 12 years.
We estimate that about £1.2bn will be reported as being spent on property in this area in Q1 2015 when figures are published. The graph below includes roughly half of the data for the Q1 2015 period and reports quarter by quarter dating back to Q1 of 2002.
Homeowners just don’t have to or just don’t want to sell and so supply is still limited with the result that fewer transactions occur.