With Supply Low & Demand High – it’s a Great Time to Sell in Central London
Greater London Properties provide a monthly round up of the local sales market and what vendors can expect in the coming months..
February and March have seen a steady incline in Sales Valuations with 8% of the properties coming on the market within 1 week. We’re seeing our Landlords who were set to sell, now hanging on to their homes reaping the current slightly unexpected high rental yields. This has meant the normal sales supply we would expect at this time of year has been reduced and we’re finding some our local residents now approaching keen to sell and make the most of the current drought of properties on the market. This month alone, prices have been nudged up above asking price, in some cases almost 10%, in part due to the lack of supply.
The international buyers are slowly returning, often this is seasonal with spring being a particularly popular time however with the current unrest in the world, this trend may be disrupted.
“What we would love to see is a repeat of the 2020 Boris Bounce which saw a hike in property sales as the future seemed more certain. In addition, the stamp duty movement allowed people to move at a reduced cost with the amount of property transactions almost doubling during this time. People are still being quite cautious however sales in our own agency have doubled compared to the same time in 2021 and we hope this optimism will continue” said Rob Hill, Director of Greater London Properties ‘
Our Sales Team specialises in Central London and know the area street by street. When you receive a Property Valuation from us you can expect not only comparable sold prices in your area, but current market trends plus we also discuss our already vetted buyers we have active on our database and ready to purchase.
For all our new Vendors we can offer a complementary professional clean before the photography, preparation of your Legal Sales Pack (imperative for a smooth transaction) plus a free Matterport and Video Tour to be shown online.
If you would like to research Greater London Properties prior to instructing our team, please check the review site Trust Pilot which currently stands at 457 independent reviews rating us as ‘excellent’. Something we’re very proud of!
Warm Regards
Kate Hill, Director