As we step into the second part of 2024, it’s time to reflect on the London real estate market’s evolution and our company’s dynamic journey over the past months. In 2023, the London real estate market faced its share of complexities, but as we progressed into 2024, it is back to real activity and deals being done. We see a lot of movement and interest happening now among both buyers and sellers with new instructions coming to the market and valuations on the way. Compared to the previous year, the volume of property sales has increased by 8% in May (according to Zoopla), signalling a boost in market confidence. Buyer demand is up by 6%, this is accompanied by Zoopla forecasting a 1.5% rise in average property prices this year.
The upcoming general elections and introduced non-dom legislation have sparked discussions and questions from our clients. Yet both we and market sentiment remain optimistic with expectations of no to little change to London’s global appeal. The city with its unique and diverse properties continues to attract international buyers. In the case of non-dom reform, after a closer look, it occurred that there is not much alternative to London for those valuing a vibrant cultural life, architecture, education and central European location. We advise our clients to seek advice from qualified financial and tax advisors to understand how to structure their assets and to explore all options. Reach out to us, too, in case of further questions.
On our end, we are thrilled to share significant milestones at AZ Real Estate. Our team has expanded with a new Sales Director on board securing an even stronger presence and expertise. And we have launched a brand-new website! Our efforts have resulted in a number of successful sale and property acquisition transactions throughout 2023-2024. With further growth at the forefront, we are excited about the future and the new instructions we are getting. Explore our new website and get in touch for any inquiries or further details about our services and available properties for sale.
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