The London Barometer September 2012

Wednesday, October 10, 2012 by Douglas And Gordon

Sales: September 2012

Market Comment

“As a result of on-going mortgage difficulties and lengthening chains September saw average times from agreeing a deal to exchange increase to 12 weeks, twice what it was a year ago.”

“With an amazing 30% fewer family houses over the same period, it seems that many are deciding to stay put or if relocating are renting out their house rather than selling.”

“For many people this market is making them feel as if they have to paddle faster to stay in the same place.”

Ed Mead, Director

 

Lettings: September 2012

Market Comment

“Although July and August was, as expected, quieter than usual, demand for rental properties in September was up 10% year on year which should translate into a busy lettings market in the autumn. The very high stock level we reported in August is now calming down following the recent activity returning to the market, hence lots of properties have been let since the lull that was experienced over the Olympics.”

“The flat market has proved particularly busy in September with a lot of wealthy foreign students renting properties, which is typical for this time of year.”

Virginia Skilbeck, Lettings Director