London investors 'unwilling to sell'

26 July 2011

Written by Jeni Browne

Commercial mortgage holders and property investors in London are currently unwilling to sell, according to one expert.

Hugh Best, head of investment banking at London Central Portfolio, explained this is because "rents have been hardening for about the last 15 months or so".

If people are seeing "consistent rental income in a good rental market" they are likely to be unwilling to offload their assets, he continued.

"Stock is still tight" but it is possible to find some good property investment deals in the city, the expert proclaimed.

This lack of fluidity is due to a curtailing in the desire for vendors to dispose of their property and not decreased mortgage availability, Mr Best added.

He pointed out that if an individual did sell their holdings, they would find it difficult to find "prime performing assets" available to buy.

The expert's comments correspond with a statement made by Stephen Dyer, managing director of Ideal Property, who noted that London is currently a particularly good location in which to purchase land.

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