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Home › Cash is king in prime London
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Cash is now king in the prime London market with six out of 10 of purchases made by investors or second-home owners.
In prime central London this figure rose to three quarters of all property purchases. Buy-to-let investors accounted for one in three prime London property purchases in the first quarter of 2016.
Second-home owners behind another quarter of sales in the run up to the stamp duty surcharge 1 April.
This means that 40% of property sales were made in cash, up from 34% in the previous quarter.
Overall, buyer-demand increased 9% year-on-year in prime London and by 19% in the outer prime belt as buyers sought more affordable property, according to estate agent Marsh & Parsons latest London Property Monitor.
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