||Since 1996, prices in PLC have gone up 6-fold to over £1.6 million in Q3 2015. This increase represents growth of 10.1% p.a., reflecting long term trends over the last 45 years. Average prices are 6 times greater than in the UK, which is a domestic rather than international market.
|Concern about the volatility of equities and geo-political instability have reinforced investors’ appetite for blue chip tangible assets. As well as these “push” factors, there are “pull” factors such as PCL’s position as a financial, cultural and economic centre, as well as the important “rule of law”. By Q3 2015, prices in PCL were 64% higher than just prior to the pre-credit crunch whilst the FTSE100 was up just 15%.|
|PCL is a prime player amongst other major urban centres around the world and compared with the UK’s other more speculative hotspots. As well as its consistent appeal its limited land development potential means there are supply restrictions and only 4,839 units changed hands in 2014/15. This is in stark contrast with other areas of Greater London. Here, high levels of new development have significantly held back price growth.|