Year-End Property Prices Provide Boost to London

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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