When it comes to prime London property market, do not believe what you read in the papers.

After a long dark period of no activity the buzz is back in the prime London property market.

Despite news reports that in autumn the real property crash will come. The buzz has continued after the summer recess.

The activity in the prime London property market has been mainly driven by foreign investors. The Euro and the Dollar are both strong against the pound; this together with the lack of confidence amongst sellers makes buying London property an attractive investment.

The lack of property listings is also resulting in some fierce competition amongst buyers but generally when a seller commits to a buyer he stays with the deal.

Many buyers have also been waiting for that big crash. Majority of the people who own property in London’s prime areas can afford to sit and wait for the market to recover and the confidence to return.

What is evident is that properties that are put on the market are correctly priced and sell fast. Qualified buyers that have been waiting for a while to buy are grabbing opportunities and committing to purchase.

Those of us who are professionals working in the property market know that when the media reports negatively activity slows down. We have to sit and wait until confidence resumes.

The media’s global reporting of the credit crunch and a huge impact on activity but not so much on prices. There was certainly a correction from the 2007/08 boom but no major impact on prime property prices and no major bargains to be had.

Banks have also started to lend, albeit 50-60% loan to value but it’s a start.