The London Barometer July 2014
Thursday, July 10, 2014 by Douglas And Gordon
July 2014 / Sales
"June saw a significant shift in the sales market with the highest number of available properties on the market for 12 months and new buyer registrations declining. This quarter instructions are up 40% and if you compare this position to 12 months ago, our figures show a 20% increase in available properties. Buyers are at last enjoying some choice but sellers are reticent to accept lower offers for now. It looks like it could be a busy autumn.
“As expected, the majority of enquiries and sales are taking place at the lower end of the market, particularly focused on the flat market and for properties valued under £2m.”
George Franks, Sales Director
July 2014 / Lettings
“Dithering buyers and ongoing city confidence imply an extremely active lettings market adding to the traditionally busy summer period. Nearly twice the number of tenants are actively looking for a rental property than this time last year with stock levels reducing, perhaps we’ll see some rises in rental values.
“ Landlords’ rush to sell earlier in the year seems to have abated, and given the supply/demand turnaround, it would seem to be a reasonable time to invest in a buy-to-let with the prospect of rental yields increasing in the medium term.”
Virginia Skilbeck, Lettings Director