Olympic hangover for property

Sarah Davidson

August 14, 2012

Fewer people registered as a prospective buyer in London during the Olympics although sales activity improved, estate agent Marsh & Parsons claims.

Between the 27th of July and the 12th of August the number of property sales agreed by Marsh & Parsons rose by 23% compared to the same period last year.

The number of sales agreed was also 35% higher than during the same 17 day period in 2010.

However in the Olympic 17 days there were 30% fewer buyers registering than in the same period a year ago.

In turn, there was a 22% reduction in the number of viewings compared to last year.

Peter Rollings, CEO of Marsh & Parsons, said the traffic chaos and logistical problems feared in the run up to the Games failed to materialise.

He added: “In fact with roads emptier than usual for this time of year, buyers actively looking to purchase homes ahead of the traditionally busier post-summer holiday period found getting to and from viewings a much smoother process.

“With the Olympics serving to provide incredible global publicity for London, showing the city in its best possible light, we expect it will have a significant long-term impact on its appeal as a place to live for both domestic and international buyers.”

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