“London’s house price slump is at the bottom now.  I don’t for a minute think prices are going to go anywhere fast, but they should stop falling.  Bank of England mortgage approvals were up 19% in February on the month before which will feed through into sales over the coming weeks.  Demand in London is already noticeably higher for good quality properties – we’ve seen more than 25 properties go to sealed bids in the past two months.  Some properties are now going for over the asking price.

Although there is still some downward pressure on prices, on the whole, sellers have now adjusted their asking prices to a realistic level and buyers are putting in offers very close to asking price.  House prices have reached the bottom – they won’t go back up fast by any means, but they will stay stable now.”

-ENDS -

For further information please contact:

The Wriglesworth Consultancy
James Staunton / Sarah Davidson
0207 427 1400

Marsh & Parsons has been part of the London property scene since 1856.  The sales and lettings agent has 14 offices situated in prime positions across central, west and south London .  They have an intimate and extensive knowledge of the area.

Marsh & Parsons are an independent and professional firm with a 'can-do' attitude covering all aspects of residential property.  They aim to establish individual relationships with clients through a business built on energy, agility, professionalism and knowledge. Their business aim is to be the agent who not only understands the local area around their offices better than any other agent, but also to be at the heart of the community