Press Release: New Year property valuations soar in the London market
Mon 25 Jan 2010
The number of property valuations being carried out in the London market has soared in January, suggesting more homeowners are considering putting their homes up for sale, according to estate agent Marsh & Parsons. In January 2010, the number of property valuations undertaken by valuers at Marsh & Parsons was 67% higher than in January 2009.
Throughout the second half of 2009, there was a severe shortage of supply of homes on the market in London, despite unprecedented levels of demand from buyers. House prices in the capital have risen faster than any other part of the UK, largely as a consequence of this imbalance. The average London property is worth 9% more than in April 2009 , and there is now evidence that more homeowners encouraged by this strong recovery in house prices are thinking of selling their properties.The upturn in confidence amongst homeowners was evident in December 2009, when there were 9.6% more property valuations requested than twelve months earlier. But in January this year, the boost in demand for valuations has been even greater.
Peter Rollings, managing director of Marsh & Parsons, said: "The New Year is traditionally a busy time for our property valuers, but so far this year demand for property valuations has been enormous. The hope is now this will translate into even more London homes being put on the market for sale and, in turn, boost activity levels in the housing market. A surge in sellers is unquestionably a healthy development that will bring a greater balance between supply and demand and lead to more sustainable house price growth in the coming months."
All valuations at Marsh & Parsons are conducted by the Sales or Lettings Manager at the relevant London office. The firms Professional & Valuations department also deal with all professional matters relating to residential and commercial property, including property surveys.
-- ends --
For further information please contact:
The Wriglesworth Consultancy Tom Urpeth / James Staunton 0207 427 1440 / 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.