The London Barometer May 2013

Thursday, May 09, 2013 by Douglas And Gordon

May 2013 / Sales

Market Comment

“ As anticipated, more homeowners, including landlords, than expected have been toying with the idea of selling up in April but frustratingly they remain just ideas for the moment.

“Given that D&G sold more properties than were taken on in April, stock levels continue to go down and are predicted to fall further. As buyer numbers remain steady it seems inevitable there’ll be on-going upward pressure on prices.”

Ed Mead, Director

 

May 2013 / Lettings

Market Comment

“With the growth of the private rented sector and the spotlight on bad practise, we welcome the upcoming requirement for all letting agents to be a member of an independent consumer redress scheme. We hope this will lead to a more predictable and positive experience for both tenants and landlords.

“Again, the difference between Prime Central London (PCL) and non-PCL is becoming clearer, as PCL landlords take into account capital growth and appear to be eschewing low offers as a result. However, non-PCL landlords are benefitting from lower stock levels, better yields and an influx of tenants unwilling to pay PCL prices, including corporate tenants.

“The number of new instructions in April was 50% higher than this time last year and almost 40% of all those new properties coming to the market are located in PCL. With increasing stock levels and competition in PCL, presentation, pricing and flexibility are key for PCL landlords.”

Virginia Skilbeck, Lettings Director