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Explained in plain English

What caused the 2014 peak?

The 2014 peak in prime central London property prices was largely driven by a surge in demand from overseas buyers, especially from Asia and the Middle East. They were attracted by London's status as a safe investment haven, a strong pound, and a relatively stable political and economic environment at the time.

Stories that explain this

Eight in 10 Mayfair and Belgravia Homes Sell Below Asking Price

Questions this opens up

Who buys London's prime homes? What is a 'safe haven' investment? How do interest rates affect property?

Related explainers

What was the 2014 peak? Could I buy a Mayfair home? How important is property to the UK? Is London losing its allure? Why are luxury homes cheaper? Are there fewer overseas buyers now? How do they buy property? What is Broad Peak?

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