For what it's worth
Speculative buyers have returned to central London, according to Savills, and although they may expect to see capital growth within one to five years rather than a matter of weeks, it looks as if profit motive is fuelling price increases. Yolande Barnes, of Savills Research Department, sees strong parallels with '86/87, with prime central London leading and other markets following. "Unfortunately people have very short memories and after every single slump, the comment reads that the market will never boom again." In 1990 people ditched second homes, she said, now they are buying them again.
Meanwhile, Berkeley Manhattan, launched the first phase in the redevelopment of the 1920s home of the then Metropolitan Water Board. Public service once required a status of sweeping staircases and fine detail. Bronze main doors lead into a vast marble Art Deco hall which will remain as it is. So far, 28 out of the first 43 flats have been sold with prices starting at about pounds 170,000.Reuse content