London resi remains resilient as rents rocket

The central London residential market remains remarkably resilient with home prices back to pre-financial crisis levels and rental values rocketing to “regularly exceed £1,000-plus per week in prime areas of the city,” says a new report out this week from Colliers International.

And overseas property buyers are driving the boom. “Since 2000, property values in London have consistently outperformed the FTSE 100 over the long-term,” Colliers told OPP this week, and “foreign buyers, institutional investors, companies, developers and private buyers are all seeking to cash in on the high level of demand in the market.”