The turbulence of the last year has had huge repercussions across almost every aspect of the UK and global economy.
Commenting on what we expect 2023 to have in store for our country’s premium property market, Black Brick Founder and Managing Partner, Camilla Dell sat down for an interview with Luxury London.
“Luxury, rare assets will always have demand over areas that are more susceptible, outside of prime central London,” Camilla reflected. She then went on to forecast that prices in prime London will drop two per cent in 2023, which is low, although she stressed that this should be taken with a pinch of salt:
“Predicting property values is extremely difficult, particularly in a market like London where different property types and areas all factor hugely in determining how values will perform over time.” Even if the picture is worse than imagined, it may be a case of simply holding out, as inflation is predicted to peak in the middle of the year, meaning that “we should see some light at the end of the tunnel as we enter Q3 2023”.
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