Record year-end property prices provide boost to London economy

Record year-end property prices in Central London are providing early indications that major businesses have renewed confidence in London as a prime location.

The London prime market has left the rest of the UK behind with prices for the capital’s most expensive properties jumping 10% during the past year. These figures are supported by new research from Savills which show that prime residential property values across the whole of London have ended 2011 on a record high.

“Demand has come from across the world, with international buyers accounting for some 55% of prime central London residential property,” comments Geraint Evans, sales & marketing director at Avanta Managed Offices, which operates 15 business centres across the Capital. “These international business leaders will help attract investors, wealth and jobs to London and that provides a positive outlook for the future.
“This massive injection of overseas cash into the Capital property market confirms our own year-end figures which reveal that we achieved an average of 90% occupancy across all of our centres – the highest average figure we’ve ever witnessed.

“All Avanta business centres are located in prime London locations providing cost-effective and flexible office space solutions to a wide range of businesses. These are clearly proving extremely attractive to those new businesses locating to the capital which don’t want to incur huge set up or cap-ex costs and which appreciate hassle-free easy access to high quality office accommodation.”

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