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Robyn Hall
Just Retirement is going on the road over the next few months. This seminar is in London.
Area Sales Manager - Financial Services - London
North London
Mortgage Consultant / Mortgage Adviser - Fulham
South London
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The first green shoot appears in London
18 February, 2009
“There are definitely some signs that the property market is starting to stir.” So says Peter Rollings, managing director of Marsh & Parsons.
He contends that the market is very close to or has even reached the bottom in London.
“No one rings a bell when property has reached its nadir. But for the following reasons we believe the very first green shoot of a recovery has appeared.”
Over 1,000 new buyers registered in January – most with deposits of 20% plus
Nine “best and final” offer situations this year including…
A flat in HollandPark which attracted 35 prospective buyers, three asking price offers and an agreed bid in excess of the asking price
Most areas of London have fallen 25-30% and are back to 2004 levels
Double of the agreed sales so far in 2009 compared to corresponding period in 2008
Greatly increased overseas buyer interest from around the world – sales agreed this year with Russians, Italians, Germans, Japanese, Chinese, Thai, Irish etc
Peter Rollings adds: “It’s worth noting that since 1945 property prices have appreciated by 174% in any 10 year period. I don’t know for certain that we have reached the bottom however what I do know is that in two years London property prices will be higher than they are now and in five years they will be substantially higher.”
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