Press Release: Committed London Buyers Drive Pre-Christmas Flurry of Offers
Thu 08 Dec 2011
Investors seeking to escape the impact of the Eurozone crisis have boosted the number of committed buyers on the market in recent weeks, according to London estate agent Marsh & Parsons.
Demand from investors looking to buy quickly has boosted the number of properties 'under offer,' despite the normal seasonal slowdown in buyer activity across the wider London prime market. In November, the number of properties 'under offer' with Marsh & Parsons rose to 177 - a 21% increase compared to November last year. As a result, the overall total value of properties under offer rose by 19% compared to the previous November.
However, it is not just an annual increase. The number of properties under offer in November increased by 9% compared to October - at a time when the number of properties under offer traditionally falls in the run-up to Christmas.
In contrast, the total number of buyer registrations has fallen by 9% in the last three months, compared to Q3 2011.
Peter Rollings, CEO of Marsh & Parsons, comments: "Buyer demand tends to slow in the run-up to Christmas, but a corps of committed, less speculative buyers has hit the market recently. While general buyer demand has been more muted in autumn, those looking to buy are moving quickly, and this has triggered an increase in the number of offers being made. However, this is not simply down to families looking to move before the New Year. We are seeing a flight to high quality real assets from both international and UK buyers. As investors increasingly see their assets exposed to the meltdown in the Eurozone, a growing number are heading for the financial security and strong yields provided by property in the capital - with a new urgency."
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For further information please contact:
The Wriglesworth Consultancy, Dan Pike / Neil Mackwood 0207 427 1430 / 0207 427 1434
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 was acquired by LSL Property Services plc in November 2011, but continues to operate as a separate business, retaining its current management team.
Marsh & Parsons are a 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.