Hamptons International Figures Reveal Uplift in Home Buyers
10 December 2008 - Latest figures from Hamptons International show there was a 22% increase in net sales during November 2008, when compared to the previous month.
London witnessed a 12% increase in net sales during the same timeframe. Net sales were also up nearly 2% in comparison to this time last year, indicating the pent-up demand currently within the UK property market.
With a further drop in interest rates and vendors becoming more realistic about prices, many buyers have been encouraged back to the sales market.
The latest Hamptons International figures reveal that property prices are on average 20 - 25% lower than their 2007 peak.
“We are seeing many buyers scanning the internet for great deals as the year ends. There is certainly a great deal of pent-up demand in the market, with many realizing they can’t put off buying permanently. If properties are on at the right price, people are interested,” comments Phil Tennant, director – Hamptons International.
Hamptons International predicts the ‘bottom of the sales market’ is likely to be reached at some point in 2009 and with distressed sellers prevalent, the year ahead might be the best buyers market seen for some time.
Media enquiries please contact:
Jane Jorgensen, Associate Director – PR, Hamptons International
0207 589 9775 or jorgensenj@hamptons-int.com