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London Residential Market is on the Turn

LONDON-With equity markets in turmoil, the relative calm of the property market has made it a haven for investors of all kinds. But that's all about to change says a new report by Chesterton Residential.

By Charlie Jacoby | Updated on October 28, 2002

LONDON-The residential property market is entering a transitional phase. That’s the conclusion of new research by Chesterton Residential.

Chesterton says that, while property has been relatively unaffected by the stock market over the last three years or so, things are beginning to change as the recently announced redundancies have done little to boost consumer confidence. The likelihood that City workers will miss out on their bonuses is adding to speculation that the top end of the market, in particular, may suffer.

‘Prices are currently rising at a slower rate throughout much of London and will continue to do so over the coming months’ said Alastair Crowhurst, director at Chesterton Residential. ‘The poor performance of the stock market and the threat of war is hindering property sales to an extent although low interest rates and high demand are helping to keep the middle market strong.’

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