Press response to RICS Residential Market Survey
Thu 14 Aug 2014
Peter Rollings, CEO of Marsh & Parsons, comments: "The housing market hit the ground running at an unbelievable pace at the start of this year, but it couldnt maintain this speed long-term and as we move into the second half of 2014, the market has settled into a more sustainable rhythm."
"The process of buying and selling property in the capital is noticeably less fraught and off-putting than it was a couple of months ago. This month, we recorded 12 registered buyers for every available property in the city half the level witnessed in January, but still representing a healthy level of demand. Currently, the key component stabilising the London market is an increasing supply of property, which has surged 52% since the beginning of the year. This natural return to more normal trading conditions, where buyers can enjoy greater availability and sellers are inspired to sell now that they have more choice for their onward purchase, is a step in the right direction and will ensure long-term energy and activity in the market."