London’s housing market bounces back

Michael Lloyd

January 20, 2020

home sales

The capital’s housing market has bounced back after the election result with a number of estate agents experiencing a busy start to the year as reported by the Evening Standard.

Christopher Burton, head of Knight Frank’s Dulwich office, told the paper: “Interest has exploded at the start of this year.”

Rightmove has reported that there has been a 2.3% (£6,785) monthly increase in the average price of property coming to market.

This the highest increase since January 2015.

Ian Springett, chief executive of OnTheMarket, added: “We have seen a higher than expected 91% increase in the number of sales leads over the first seven days of January 2020 compared with the same period last year.”

Matt Robinson, chief executive of Nested, said: “This year has started with a bang.

“We’ve received double the number of enquiries than in the same period in 2019 and on Saturday we had a record number of viewings.”

Simon Gerrard, managing director of estate agent Martyn Gerrard, spoke to the Evening Standard about there being an increased amount of optimism.

Gerrard said: “There more optimism in the air.

“We have felt for some time that all the market needed was some kind of political resolution and stability for buyers and sellers to return.

“The definitive election result has meant even more people are now looking at their plans for the future and feel they can confidently get on with them.”

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