Written by Justin Neal
We read with interest your article on how Crossrail is driving up housing prices in London (Property Week London Supplement, 26.06.15)
Rapidly increasing London house prices have, in part, been driven by the investor who never intends to complete on or live in the property. Double-digit growth has increased the number of speculators buying in the high-net-worth £1m to £5m ‘off-plan’ residential market, but is this market about to wane? This high-net-worth market has not bounced back since the election and with prices possibly continuing to remain flat for the next three to five years, the lack of growth means these investors are unlikely to recover their initial investment and costs…
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I am a partner within Gordon Dadds' property team. My career has seen me take on a variety of challenges, such as managing the property portfolio of a significant outdoor advertising company and acting on the sale and acquisition of several prime and super prime properties within the London market, in addition to the acquisition of HQ offices for significant clients within the telecommunications, offshore drilling and software sectors. I also act on behalf of several merchant and international banks and have assisted in drafting their precedents and panel materials. Outside of work, I coach rugby and play polo. I also enjoy commentating on polo events and auctioneering.