7th March 2008
Despite mixed forecasts for the UK property sector, well informed, well resourced investors look set to gain, according to Keith Scarratt, Group Marketing Director of Imagine Private Clients
In one year of trading Imagine Private Clients has built up over £200 million per annum of stock in London for resale, ranging from £1 million to £8 million per unit. One would expect that due to all the doom and gloom sales since Christmas would be suppressed, but the truth is, they have not.
While growth this year will undoubtedly not reach the heights of previous years, capital values over the next twelve months will increase as long as the market rides out the next quarter. If you are looking to invest in property there are deals to be done now if you are well informed, well resourced and can move quickly.
However, this window of opportunity for savvy investors will not remain open for long as house prices are predicted to rise by the end of the year.
If interest rates continue to fall as expected and the hard evidence of falling prices fails to materialise, the market will firm as quickly as rumors of its demise were circulated.
The rental sector can not be ignored either. With house prices on the rise, more and more people will resort to renting. And with rental prices at the top end of the market in central London hitting the highest level in almost eight years, this trend looks certain to continue.
However, companies like Imagine Private Clients cannot become complacent. The sector is hugely competitive and more importantly buyers demand a bespoke service. With current market conditions, high end investors focus on price, capital value appreciation and location. It's a selective buyers market, so for someone looking for a particular property, now is the time where they are likely to find their dream home or investment property.
The future of the premium property market is bright, and as long as companies like Imagine Private Clients deliver the properties and services luxury buyers demand, the sector will continue to grow whatever happens in other parts of the economy.
Keith Scarratt, is Group Marketing Director of Imagine Private Clients, the bespoke service dedicated to customers seeking some of the world’s most valuable properties – either as homes or residential property investments.