How much further are London commuters willing to travel?
Mon 30 Jun 2014
It is no surprise that many living in the capital have started to notice the large price gap between London property and prices in the rest of the South East of England. This has led to a surge of new property listings in the capital, according to Marsh & Parsons, which reports that the supply of property has increased by 26% in London since March 2014. The firm reports: In Prime London overall, the number of registered buyers per property has fallen from 24 January 2014, to 16 at the start of June. Quarterly house price growth in Prime Central London has slowed to 2.1% - half the 4.0% increase witnessed in Q1 2014. In the last month there has been very little change in property prices, as growth stalls. Peter Rollings, CEO of Marsh & Parsons, comments: In the past six weeks, we have seen the wind change in the property landscape, restoring a new calm and steadiness to the market. Property prices have plateaued as more property has come onto the market; however demand continues to outweigh supply, in what is still a sellers market. This renaissance of supply is offering buyers more choice than theyve enjoyed in recent months.