Madley Property’s Sales Department are pleased to report a 30% increase in buyer enquiries during the first three months of 2012 with over 40% of new instructions going under offer within the first four weeks of marketing. This uplift has been indicative of the increase in sales activity experienced in the capital during the last 12 months. The Royal Institution of Chartered Surveyors (RICS) said that during the month of March, 9% more surveyors reported a rise in enquiries from potential buyers. RICS Chief Economist, Simon Rubinsohn, said: “There has been a gentle increase in activity across the market in the early part of the year but it remains to be seen whether this can continue, given the changes in the Budget and ongoing problems affecting the economy.” London continues to outperform the rest of the UK in terms of prices but, interestingly, the North West did see an increase in activity in March.’
The first three months of the year have also been a positive one for Central London prices, Nationwide House Price Index cited London as the fasted rising region in Q1 with prices up 2.3% over the first three months of 2012. This was backed up by reports from Primelocation that prime London prices had risen by 0.8% in February alone. Buyers registered by Madley Property have been a mix of both overseas investors, UK investors and owner occupiers with there being a spread of cash buyers and mortgage backed buyers. The prime London developments such as St George Wharf, Chelsea Bridge Wharf and Bridges Wharf remain in highest demand with demand starting to outstrip supply in most cases.
If you would like to know more about the current value of your property and speak to someone about finding a buyer, please contact Jaimie Beers on 020 7378 0644 or jaimie@madleyproperty.com
