The London Barometer March 2012

Tuesday, April 10, 2012 by Douglas And Gordon

Sales: March 2012

Market Comment

“Securing a mortgage in the current market has never felt so hard and creeping mortgage rates, with many lenders adding half a percent to Standard Variable Rates, are adding to the tough conditions. However, against a backdrop of continuing short supply, D&G has managed to increase its market share. Longer opening hours and a renewed focus on marketing by all our offices has paid off with one of our best months for new business in the last four years as buyers who are in a position to buy move quickly to secure a deal.”

Ed Mead, Sales Director


 

Lettings: March 2012

Market Comment

“This time last year the rental market was outstripping the sales market - this now seems to be reversing. Recent research shows that rents, which peaked in October of last year, have either not risen or in some case have fallen very marginally during the 1st quarter of this year and landlords are now having to pay more attention to the presentation of their property in order to secure continuity as tenants will not accept tired décor or poor maintenance. High sales prices are depleting some of the rental stock as landlords consider selling, so with demand remaining fairly constant we do not expect there to be an oversupply of property to rent, however things are slightly tougher from a landlord’s perspective.”

Virginia Skilbeck, Lettings Director