JP Morgan deal shines light on Canary Wharf property

With the anouncement that JP Morgan have signed the biggest office deal in the history of Canary Wharf to take 1.9 million sqft at Riverside South, the prospects for the Canary Wharf property market looks rosy. The sales market is currently subdued and prices have fallen dramatically during 2008. However, signs that the mortgage market will start to pick up in 2009 should signal the bottom of the market. Savy investors with cash will start looking to buy during 2009, therefore sellers should be looking to market their property from early 2009.