Property market to receive £4.4bn Xmas City bonus cash

Posted: 21 Dec 2006 09:59:35 GMT

A bumper round of Christmas bonuses in the City of London is set to provide an early bounce to the UK property market, industry experts have claimed.

A bumper round of Christmas bonuses in the City of London is set to provide an early bounce to the UK property market, industry experts have claimed.

A Homebuyer Show survey of industry insiders suggests that the market expects that half of overall City bonus cash - or around £4.4 billion – will end up in bricks and mortar.

The cash will be not be spread widely however, with buy-to-let investment in the City, London Docklands, Chelsea and Knightsbridge expected to be the main beneficiaries.

"We have already seen a 20 per cent increase in customer enquiries over the last couple of months," explained John Stewart, of buy-to-let investment company Estates and Lets.

"Whereas the West End tends to receive investment from foreign investors, Canary Wharf and E3 and E14 addresses are the most popular locations for city bonuses."

Overseas property is also expected to receive an injection of sterling investment.

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