The annual value of London’s commercial sales of property has soared by 166% since 2014, soaring from £11.3bn in 2014 to £30.1bn in 2017, according to new analysis of HM Land Registry data for Greater London’s 28 boroughs by Search Acumen, the property data and technology provider.
With £12.7bn worth of commercial sales already achieved in 2018, this year is set to be another year of strong performance in the commercial market. Search Acumen’s analysis shows the number of transactions is also increasing. Since 2014, annual commercial transactions in London have increased by 114% from 7,445 to 15,939 in 2017 as Brexit uncertainty failed to dampen investment appetite for the capital’s property market.
Commercial transactions also accounted for an increasing share of London’s property market activity as a whole. In 2017 and 2018 to date, almost one in four (23%) London property transactions were commercial in nature compared to private residential transactions, a big jump from just 9.5% back in 2014.
Search Acumen’s analysis comes as the City of London becomes the first London borough to digitise its Local Land Charges (LLC) register, expediting and improving the process of buying and selling property across the City.