Hamptons International has over 140 years experience in the London property market. With 22 offices across London, our teams are experienced and have the local knowledge and expertise to assist you with the sale or purchase of your next London property.
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Residential Market Update - November / December 2011
Sales
Properties Must Be Well-Priced to Sell
The Autumn/ Winter sales market has been volatile, but the underlying trend has been relatively positive.
We have grown the stock of available properties by two percent from this time last year and at the same time the number of new applicants registered is up by seven percent. We now have eight buyers for every new instruction on our books compared with a ratio of seven to one earlier this year. Demand is sensitive to pricing at the moment, but when priced for the local market properties are moving well.
We are also seeing an improvement in the ratio of instructions to agreed sales; when the right property comes onto the market at the right price, it is attracting strong demand and a relatively quick sale. One thing that is clear is that people have become accustomed to a gloomy economic backdrop and are getting on with their moving plans.
Lettings
Seasonal Slowdown Increasing Pressure on Landlords
Activity in the lettings market traditionally tapers off towards the end of the year. Although demand from prospective tenants was down by 17 percent, there remains a shortage of stock; particularly for one and two bedroom properties.
Our corporate lettings department continues to see the trend of steady activity, but with lower budgets. With economic challenges persisting, strategic appointments for many businesses have been delayed.
In the lead up to Christmas, we are again running a campaign for new tenants over the Christmas and New Year period. The offer includes 50 percent off the first month’s rent if the tenant moves before the end of December. Keep an eye out for these select properties to get a great deal and to beat the annual New Year surge in demand.
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Selling and Letting your London Property with Hamptons International
To get your property noticed, we will advertise extensively and source potential buyers from our network of over 85 offices. Your London property will be marketed through a carefully planned campaign of including local London property publications, national publications and all the major property portals; Propertywide, Zoopla, Globrix, Rightmove, Prime Location and Find a Property.
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