With its history and its continued importance as a financial center together with its range of high-end shops, its cultural attractions, and its schooling, London is unique, attracts a class of investors, both domestic and foreign, who would not consider buying property anywhere else in the UK. This has led some to argue that, with the supply of property fixed and with its demand unconstrained by the borders of the UK, its value can only increase.
The stock of prime housing in London’s most desirable postcodes is now valued at around £130 billion. Prices for residential property in Prime Central London have outperformed Greater London by 30 % and the UK as a whole by 34%, over the past three years. This has led to a growing belief that PCL is special and entirely separate from the rest of the UK property market.