Demand for property is strong with a significant rise in the number of buyers than this time last year, according to a market review from Hamptons International.
October saw a clear increase in stock coming to the market, as potential vendors realised that properties are selling within a reasonable timeframe. The number of sales agreed in October throughout the Hamptons International office network in London (21 offices) was up 80% year on year.
The proportion of abortive sales fell to a five-year low.
The same story is true in the south of England where volume of properties has improved but sellers still have the upper hand in transactions. Buyers have a very limited choice of properties. Prices have seen a slight uplift but this trend might not continue if there is a change in the balance between supply and demand. ‘Our advice to clients is that, if they are looking to sell in the next six months, now is an excellent time to come to the market,’ says Ian Westerling, country region sales director.