London Market Comment Spring 2013

The storm clouds are still circling around the UK and Europe with daily media reports and differing opinions on whether we are seeing any glimmers of hope on any beginnings of an economic recovery.

However, some parts of the London prime residential market seem to be indifferent and choose to ignore the scare mongers and pursue their purchase.

It is seldom that we have seen such stark differences in activity within certain areas of the London residential market.  A case in point is some of the more popular areas in South West London such as Balham, Clapham, Earlsfield and Southfields where property is becoming available as vendors look to move to the country.

In our last report we mentioned that the family housing market in these areas South of the river seemed quite active, and now the demand for good sized period properties in these family orientated areas has completely outstripped the supply.  There have been reports of houses on the market for less than a day before a stream of attractive offers overwhelm the agents. This sort of purchasing frenzy has not been seen for some time.

This current ‘micro market’ could perhaps be  compared with the rest of the London market, or even to the rest of the Country and the national residential market as a whole. Television and article reports recently stated that it was very much a ‘’buyer’s market’’, substantiating their claims with examples of regions of the UK where as much as 43% of Vendors over the last year have had to sell their properties for less than their original purchase price.   Therefore again proving London to be a continously popular place to invest.

As buying agents, our services to clients who wish to purchase houses in these highly competitive areas continues to be in demand. With our wealth of experience in these hugely popular areas and current market conditions, we have already this year successfully acquired several properties for clients.

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