The London Barometer February 2013

Friday, February 08, 2013 by Douglas And Gordon

Sales: February 2013

Market Comment

“January reaffirms our hunch that 2013 will be a good year for sellers as stock levels are 10% down compared to this time last year and we received 50% more offers from what felt like more motivated buyers.

“ The actual numbers of buyers registering is consistently high and the fact that they are looking in multiple locations shows that many are willing to expand their search at a time when stock is increasingly scarce.”

Ed Mead, Director

Lettings: February 2013

Market Comment

“Although we currently have over 40% more available property to let compared to this time last year, it is worth remembering that the level of stock is actually still 30% down on the levels that were reached in 2008, so the lettings market seems to be returning to a business-like state of equilibrium.”

“ January was a robust month in terms of demand, with the number of new applicants registering almost as high as the busiest months of the year during the summer. New lettings transactions were almost 10% up compared to this time last year.”

“ Buy-to-let landlords have been extremely active this year so far, looking for properties across London to increase their current portfolio. However, investors should consider the up and coming supply of properties in an area and the quality of the property when choosing to invest, as this will have an effect on future yields which can be achieved.”

“ As London property continues to outperform most other asset classes, investors are looking to purchase buy-to-let properties with a good rental yield and good capital growth.”

Virginia Skilbeck, Lettings Director