The commuter belt market was more buoyant than any other market last month, according to the latest figures from Hamptons International. The agency has pointed to a healthy property market across its South Eastern regions outside of London, with more property sales and more viewings than in the Capital.
The evidence that the traditionally busy Autumn market is in full flow is welcome news to the property market which had seen a depressed Summer market at a time when sellers and buyers alike were preoccupied with major national events over recent months.
With more properties on the market since 2008, buyers are enjoying the choice available and are taking their time to make buying decisions. Throughout September, outside of the London property market, one in 10 viewings results in an offer.
Andrew Marshall, Western Regional Director, commented: "The distractions from the Summer are now well and truly behind us and in the Country market, we have seen evidence of pent-up demand left over from August. Buyers are typically looking for good accessibility to London and as a result, the M4 corridor in particular is a hotspot of activity."
Meanwhile, the London property market has been subdued, suffering from a lack of confidence on the part of both buyers and sellers, fuelled in part by uncertainty regarding taxation on property at the upper end of the market.
Marc Goldberg, Head of Sales at Hamptons International, commented on the market imbalance: "Prices in London have risen exponentially over recent years and months* but this level of growth could be coming to an end.
"With commitment levels lower than we have seen for some time and uncertainty regarding the Government's next move regarding Annual Charge taxation, we are expecting the large price rises we have come to know with this market begin to slow in the coming months and into 2013."
For media enquiries please contact:
Aisling Gray, Senior PR Manager, Hamptons International
020 7758 8422 / firstname.lastname@example.org