Professional and financial services have led the way causing an increase in rents over the past five years to £125 per sq ft from £100. The opening of Bond Street Station on the Elizabeth Line can only serve as a catalyst.
People returning to offices have started an avalanche of conveyancing transactions as they tire of the commute and its cost into London from the home counties and beyond where they have sought refuge during the pandemic and are buying properties in the metropolis once again. A significant rise in prices has been noticed recently.
The suburbs of north east London have been enjoying a particularly strong rise in house sales. Snaresbrook, Upminster, Walthamstow and Stoke Newington have seen transactions rise significantly during lockdown. Government assistance with the stamp duty holiday and ‘help to buy’ has certainly helped.
An inexorable rise in the price of London property has recently been recorded by the Land Registry. Buyers, who were scratching at their walls during lockdown, have been unleashed to purchase larger properties, along with many basking in the rays of the stamp duty holiday.
Conveyancing solicitors are enjoying dealing with these new instructions.