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No Sign Of London Downturn Says Lane Fox

LONDON-A report just released by Mayfair-based agency Lane Fox dismisses any fears of a housing slump in central London despite the plummeting stock market. Lane Fox says money is coming out of shares and into property.

By Steve Killick | Updated on September 27, 2001

LONDON-Investment in central London remains a safe bet according to research released today by Lane Fox, the Mayfair-based agency. Given the current supply and demand ratio, driven by a shortage of development opportunities and a tight planning regime, Lane Fox director, Lulu Egerton, said that she could not foresee any change in the long term.

She said, ‘Historically, it is fair to say that the London property market has echoed the movement of the stock market, down almost 1,000 points since the start of the year, although interestingly a surge of ex-stockmarket money is now being put in prime residential property.’ The decision amongst shrewd investors to get out of stocks and shares earlier this year has also helped to fuel the rise in property prices of between 4% to 6% which were seen in central London during the first quarter of the year.

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