London commercial property market outlook remain cautious, determined following a survey form RICS.
The bleak outlook continues for cities in general in the UK. In a list of top European Cities for property investment and development, London has moved from the top 10 to 27th and likewise, Birmingham has moved from being the 6th most attractive city in January to 22nd, behind Manchester and Edinburgh.
The above story goes hand in hand with the news that Central London is considered flooded with overpriced new build properties, good news for buyers but bad for developers as substantial discounts become a possibility.
However, JLL uses Oxford Economics data forecast average house price gains in each London borough from 2016-2030.
In addition, Manchester is introduced to a new £500m buy-to-let platform to establish itself as the UK’s main centre for selling residential property investment as a retail product (www.manchestereveningnews.co.uk/business/business-news/new-500m-buy-platform-launched-12120053)
If there is one property market that does seem to have any intention of slowing down, it’s Hong Kong, where a parking space has recently been sold for £510,000!