Press Release: The first green shoot appears
Tue 17 Feb 2009
There are definitely some signs that the property market is starting to stir. So says Peter Rollings, managing director of Marsh & Parsons. He contends that the market is very close to or has even reached the bottom in London.
No one rings a bell when property has reached its nadir. But for the following reasons we believe the very first green shoot of a recovery has appeared.
Over 1,000 new buyers registered in January most with deposits of 20% plus
Nine best and final offer situations this year including
A flat in Holland Park which attracted 35 prospective buyers, three asking price offers and an agreed bid in excess of the asking price
Most areas of London have fallen 25-30% and are back to 2004 levels
Double of the agreed sales so far in 2009 compared to corresponding period in 2008
Greatly increased overseas buyer interest from around the world sales agreed this year with Russians, Italians, Germans, Japanese, Chinese, Thai, Irish etc
Peter Rollings adds: Its worth noting that since 1945 property prices have appreciated by 174% in any 10 year period. I dont know for certain that we have reached the bottom however what I do know is that in two years London property prices will be higher than they are now and in five years they will be substantially higher.
For further information please contact:
The Wriglesworth Consultancy
Neil Mackwood/ Sarah Davidson
0207 427 1400
Marsh & Parsons has been part of the London property scene since 1856. The sales and lettings agent has 15 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.