Despite uncertainty in the global stock market, little to no impact has been felt to-date in the property market which remains steady. This is very specific to the City local market having caused sellers expectations to remain high in the second hand market and applicant numbers are climbing. Buyers however, looking for second hand stock remain cautious, and offers are low. We expect this to continue with many buyers and sellers now holding off for the New Year.

The Bank of England’s base rate remains at 0.5%, albeit likely to rise in the next 12 months. Additionally, mortgage lenders’ rates remain competitive and we expect them to adjust their rates to be even more attractive as the end of year targets loom.

Borrowing has already increased considerably year on year, however, transaction levels within the re-sale market in Canary Wharf and the City have levelled off suggesting that many of these new mortgages are in the form of re-mortgages. looking to lock in before any rate rise.

Newly launched developments have seen record sales levels over the past month, as purchasers look to secure property within the new schemes along Marsh Wall.

Marsh Wall has seen the release of two Landmark towers marketed by JLL. South Quay Plaza by Berkeley Homes is a 68 Storey tower set on the water’s edge of Canary Wharf’s South Dock and The Madison which is a 53 Storey Tower with a striking Moiré façade.

Marsh Wall falls just outside of Canary Wharf’s financial district. With the expansion of the estate and demand for quality apartments set to soar in the coming years, location and quality are fast becoming the most important commodities within E14 residential sector.

Properties within walking distance to Canary Wharf have always attracted a premium with professionals so the new towers set on Marsh Wall have become the epicentre for the discerning investor and home owner alike. The ability to walk to the Jubilee or DLR offers a practical solution to someone working further afield, whilst the desirability of having fantastic shopping, bars and restaurants on your doorstep is an obvious attraction.