With the lifting of all Covid-19 restrictions in the UK, there has been a noticeable ‘buzz’ in London as young professionals and students return. LCP received over triple the number of enquiries for properties in its letting portfolio in August compared with the same month last year.
Nevertheless, international travel remains limited. Heathrow Airport statistics, recently analysed by LCP, shows that passenger traffic in the last three months was 79% lower than the pre-pandemic average for the same period. The absence of overseas buyers has discouraged sellers from listing their property for sale and low interest rates have encouraged a lack of urgency.
In this issue, LCP highlights a few of the notable trends and activities we have seen over the summer.