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According to Jones Lang LaSalle
London, 21st March 2013 - At the end of Q1 2013, Jones Lang LaSalle reports the robust international demand has been met by a much improved domestic investment market, as London and British buyers become more prevalent.
Peter Murray, Lead Residential Director at Jones Lang LaSalle, said: "Alongside the international demand that has been so important in keeping London's development market active, we have seen UK buy-to-let investors and owner occupiers return to the market in force and British based buyers are becoming one of the fastest emerging sectors.”
Peter Murray added: "While the weak pound sterling continues to attract overseas wealth to London property, the strength of market support from domestic buyers has been impressive." Jones Lang LaSalle expects to have been involved in nearly £1 billion worth of residential development property transactions in Q1 2013, with domestic buyers representing a respectable proportion.”
“The Government's Funding for Lending programme has clearly helped, but the strong growth in domestic demand is the result of a fundamental belief in the investment potential of London property, particularly for some of the rare riverside schemes and regeneration areas that have been available."
Peter Murray concluded: "Well located developments in Zones 1 and 2, supported by strong transport links, attract strong interest and sell in London, but we believe that strong sales volumes to 2013 are part of a broad-based return to the market by buy-to-let investors and owner occupiers which is good news for housing supply numbers.”
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