The London Barometer January 2014
Friday, January 10, 2014 by Douglas And Gordon
January 2014 / Sales
“ As expected December was much busier than usual; 50% more properties came onto the market, 20% more buyers registered and almost 40% more offers were received on available properties. Vendors who heeded our advice and took advantage of the December market did well as a result.
“Based on the latter part of 2013 all the signs point to another year of price rises in D&G land with even more pent up demand and the main core of activity taking place in ‘Emerging Prime’- areas just outside Prime Central London. We are anticipating another year of price growth in 2014 ranging from 5% to 7%."
Ed Mead, Executive Director
January 2014 / Lettings
“Almost 10% of landlords whose properties fell vacant in December decided to sell up and cash in on the thriving sales market. By comparison 10% of tenants whose tenancies ended in December were opting to buy rather than rent.
“In December we registered 20% more tenants than the same time last year, whereas stock levels decreased by 20% year on year and were at the lowest level seen for over 12 months. This all bodes well for the year ahead.
“With the rental market inextricably linked to the performance of the London economy, we are predicting only nominal rental growth of 1% or 2% for 2014.”
Virginia Skilbeck, Lettings Director