The London Barometer October 2012

Friday, November 09, 2012 by Douglas And Gordon

Sales: October 2012

Market Comment

“October shows the appetite for London property continues to increase with 10% more offers received than October last year and thesame increase in buyers year on year.”

“Vendors remain precariously bullish in some cases, citing Christmas coming, lack of stock and expectations of price rises in London andfalls in the Country next year as reasons. Not all commentators are as optimistic.”

“It seems again that stock levels are following a downward trend and with plenty of keen buyers out looking at the moment you wouldhave to be a brave vendor to risk holding off and not selling in the current market.”

“It seems that the lethargic start to the autumn market thanks to the Olympics means that perhaps November and December will bebusier than anticipated.”

Ed Mead, Director

 

Lettings: October 2012

Market Comment

“18 months of stock shortages and significant rent rises seems to have been tempered by a slower summer and overall it appears we’reseeing a return to a more balanced market. Although it appears that there has been a 50% increase in supply year on year, these areactually historically normal stock levels. This means that anyone expecting rent rises next year could be disappointed.

“One of the biggest changes we have seen this autumn is the number of homeowners opting to rent out their property instead of selling in order to rent in the area they’re moving to. Vendors don’t want to risk losing any of their property’s value and are willing to rent untiltheir perfect property becomes available.”

Virginia Skilbeck, Lettings Director