Are we on the cusp of a Roaring Twenties for London and New York’s prime markets?
Anna heads to Manhattan to find out how the ‘race for space’ is driving New York’s prime housing market and how London’s experience compares, as well as how they will cope with governments dialling back economic support.
1 minute to read
She speaks to Jonathan Miller, expert on prime housing markets across the US and President and CEO of real estate appraisal firm, Miller Samuel, as well as Kate Everett Allen, head of international residential research at Knight Frank. Since 1994 Jonathan has produced market reports for Douglas Elliman, Knight Frank’s residential partners in the United States, and he’s a regular commentator on prime housing markets across the US.
They also look at the disconnect between the currently cooler prime London and New York markets versus wider UK and US markets, where average house prices are continuing to hit record highs. Ultimately both Kate and Jonathan say that the two cities are moving in similar directions, driven by several years of uncertainty and tax changes. Compared to price falls in 2020, this year, prime prices are set to tick upwards in London and stay static in New York.
Photo by Michael Discenza on Unsplash