According to the latest figures from premier estate agent Hamptons International, demand for property across London and the South of the UK is at its highest since 2007 and has increased by 20 per cent on the same time last year -the number of sales agreed is also up 12 per cent.
The figures show that areas in London such as Islington and Clapham have seen the highest leap in applicant registrations when compared with the same time last year (25 per cent), however it is commuter hotspots in the South East such as Caterham and Tunbridge Wells which lead the pack in terms of sales increases.
Marc Goldberg, Head of Sales at Hamptons International says: “Spring has really sprung in the property market and there seems to be a real ‘buzz’ in the air throughout London and areas of the South. Typically, buyers are at their most motivated during the Spring season to ensure a successful sale in time for the summer months and the start of the School year in September. Although there is still certainly a lack of stock particularly in London (down 16 per cent on the same time last year), the momentum felt at all levels of the market is particularly apparent as buyers are recognizing that now is as good a time as any to commit.”
Although London and the Commuter Belt saw impressive increases across the board, the recent figures from Hamptons International highlight that hotspots in the West such as Cheltenham Marlborough and Bath experienced their best month on record in terms of sales together with the highest number of new applicants over the past six years.
Andrew Marshall, Western Regional Director at Hamptons International says: “There’s an encouraging energy in the West right now and quality homes in good locations seem to be flying off the shelves. Lack of stock especially in the mid market between £400k and £1mill and in particularly popular areas such as Bath, Marlborough and Cheltenham, means that prices are beginning to spike and we’re seeing the return of competitive bidding. It is encouraging though that more buyers are recognizing that they can get impressive bang for their buck further from the Capital and we’re also seeing a positive resurgence in those looking for second homes.”
Camilla Hopkins, PR Executive, Hamptons International
020 7758 8468 / 07876 445 493 / firstname.lastname@example.org