Press Release: London market has been improving “all year”
Tuesday, 06 October 2009
This is the third national consecutive monthly rise in house prices (according to Halifax) but Peter Rollings of Marsh & Parsons says London real estate has been rising gently all year.
"The London scene is more pronounced probably because it was the first place in the UK to take a dive and is now coming out of the downturn faster than anywhere else in the country," says Peter Rollings, managing director.
He points out:
- More stock is coming onto the market with instructions in September 30% higher than last year
- Increased competition for “good houses” – Notting Hill family house priced at £3.6million attracted 24 prospective buyers in two weeks. Three asking price offers received
- Pent-up demand building with some houses going for same prices as were achieved in 2007
- More steady market now with gentle rises which will probably increase if mortgage lending criteria is relaxed
"We should not compare the situation to the peak of the market in 2007 as that will always make the market look out of kilter. That year (2007) was an extraordinary year as was 2008 for opposite reasons," adds Rollings.
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For further information please contact:
The Wriglesworth Consultancy, Neil Mackwood/ James Staunton, 0207 427 1404
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.
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