Most Property Agencies report a robust start to 2016. Many negotiations took place in the shadow of the looming Spring stamp duty changes in the UK which effect multiple property owners/investors. Overall the market in City of London and Eastern fringe are reported up by about 8% on the year. But prices in Knightsbridge for example, were down almost 7%. It may be that those areas dominated by investors are slower because of the stamp duty and pending uncertainty of a EU Brexit referendum. But the Prime Areas for single family home owners who simply need a house to live in are unaffected. The demand is still high. And as one banker told me recently "nothing beats property when you have uncertain economies and currencies".
Clearly though we are witnessing a slow down in pricing in some areas. Many properties are on the market longer and sales taking place as reduced pricing levels. That's makes it favourable to the buyer who can in some cases negotiate some very good purchase prices.