LONDON—Avison Young says London's real estate markets performed well in 2014 and that the market will continue to expand in 2015 and beyond. The Canadian-based firm last week released its Annual Review and Forecast for major cities in markets where it does business.
London's position as a world city has insulated it from the poor economic environment in continental Europe, and the city's economy was expected to grow by 4.2% in 2014, and then slowing down to 3.4% in 2015. The report puts it this way:
It is expected to expand by a further 15% over the next five years to 2019. The challenge for London, therefore, is how to manage this growth both now and in the future.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
