The London Barometer April 2011
Thursday, May 12, 2011 by Douglas And Gordon
Sales: April 2011
“ April was a predictably slower month but given we agreed the highest number of sales for a year the summer looks as if it maybe very busy. However, demand and new supply are flat right now so although volumes will most likely stay thinner than we’dlike, ongoing low rates must mean those looking are more likely to take the plunge and keep prices buoyant.
“ With first time buyers mortgage deals getting good press at last maybe it won’t just be the top end of the marketbenefiting as the year goes on.”
Ed Mead, Director
Lettings: April 2011
“We experienced a surge in interest over the bank holiday weekends as tenants used their days off to research possibleproperties to rent. However overall, the number of applicants actually registered in April was lower than last month.
“Supply of rental properties has increased by 25% when compared with April 2010, which is positive when moving into the peakmonths for the lettings market. There has been a 20% increase in new tenancies and an increasing number of re-lets, showingthat landlords are not opting to sell and are cashing in on higher rental prices. Whilst tax rates to sell a property remain high andwith interest rates staying low, buy-to-let properties are becoming more attractive to investors and we are seeing a number oflandlords returning to the lettings market.
“The royal wedding has helped promote London to an international audience and we’re expecting this to attract more peopleto want to live here.”
Virginia Skilbeck, Director