Investors to benefit from UK recovery
Published 16/04/2010 | 05:00
Irish investors, NAMA as well as developers who are active in the UK housing market look set to benefit from the continuing recovery in key sectors of the market.
According to Savills latest research paper the first quarter of 2010 saw growth of 3pc in the value of prime residential properties in central London.
Values are now 17pc higher than they were 12 months ago and are down only 10pc from their peak of September 2007.
"However, the heat is beginning to come out of the market, particularly in those areas which led the recovery in 2009," it adds.
Low levels of supply along with stronger corporate demand has pushed up rents in prime central London by 2.8pc in the first quarter of 2010 taking rental values 5.1pc higher over the last 12 months.
Prime regional property prices grew by 2pc over the first quarter of 2010. The ripple out from London has continued into 2010 with the Eastern region reporting the highest growth in the quarter up 3.8pc.