The London Barometer June 2014

Monday, June 09, 2014 by Douglas And Gordon

June 2014 / Sales

Market Comment

“May has been a month of momentum, with more valuations converting to instructions as increasing numbers of homeowners are prompted to sell thinking that the market is reaching its zenith.

“Contrary to the reports made by some commentators that the market has cooled, Emerging Prime is still busy; new applicant registrations were up on last month; and stock levels remained steady at the same level as this time last year.

“We continue to receive a high number of offers although some are now trying at lower figures than earlier this year. Sealed bids are becoming less frequent as buyers are taking advantage of the increased choice that has been presented within the last 18 months.”

George Franks, Sales Director

June 2014 / Lettings

Market Comment

“The lettings market gathered pace in May, with a spike in new applicant registrations signalling renewed confidence in employment in the City as well as an increasing number of would-be buyers choosing to rent instead.

“Localised activity suggests a strong demand over and above what is typical at this time of year, especially in areas outside of prime central London such as Putney and Southfields. Our local expert teams are reporting a spike in corporate lets as well as families looking to secure homes before the mid-summer ‘school rush’ begins.

“The number of landlords exiting the lettings market has halved, resulting in increased stock compared to three months ago, and the market is further bolstered by the Mayor’s launch of the London Rental Standard, which will raise standards across the private rented sector.”

Virginia Skilbeck, Lettings Director