Property Management | Join the Knightbridge set for £50k
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Property prices in central London will keep going up by a gravity-defying 8-9 per cent per year, with just the odd bout of volatility, making bricks and mortar around Kensington and Knightsbridge probably the best asset class on earth. Millions will disagree. London property is hugely over-inflated, with an undeserved global “safe haven” status during the crisis, and is ripe for a fall. I have no idea which view is correct. But Naomi Heaton, who runs London Central Portfolio, made an astonishingly prescient prediction during the dark days of 2009 after the UK —-banks were largely nationalised and the doomsayers were in full force. At the 2009 launch of LCP’s Recovery fund – a closed-ended Channel Islands-registered vehicle for Sipp and Ssas investors, and one of the few avenues for retail investors seeking residential property exposure – Heaton said that prices would rise by about 11.5 per cent per year over the next three years, predicting that by the time the Olympics came round the average value of a property in central London would be £1.25m. It’s the sort of breathtaking forecast that normally leads to ridicule. But last week the latest Land Registry figures came out, detailing prices in the best parts of the capital. And what was the average price for all properties in “London Central” in the secod quarter of 2012? £1,302,292. Heaton wins the gold medal for property price forecasting.
http://bit.ly/PGsF6s
Property prices in central London will keep going up by a gravity-defying 8-9 per cent per year, with just the odd bout of volatility, making bricks and mortar around Kensington and Knightsbridge probably the best asset class on earth. Millions will disagree. London property is hugely over-inflated, with an undeserved global “safe haven” status during the crisis, and is ripe for a fall. I have no idea which view is correct. But Naomi Heaton, who runs London Central Portfolio, made an astonishingly prescient prediction during the dark days of 2009 after the UK —-banks were largely nationalised and the doomsayers were in full force. At the 2009 launch of LCP’s Recovery fund – a closed-ended Channel Islands-registered vehicle for Sipp and Ssas investors, and one of the few avenues for retail investors seeking residential property exposure – Heaton said that prices would rise by about 11.5 per cent per year over the next three years, predicting that by the time the Olympics came round the average value of a property in central London would be £1.25m. It’s the sort of breathtaking forecast that normally leads to ridicule. But last week the latest Land Registry figures came out, detailing prices in the best parts of the capital. And what was the average price for all properties in “London Central” in the secod quarter of 2012? £1,302,292. Heaton wins the gold medal for property price forecasting.
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