London agents are reporting that buyer demand has shot up.
Ed Mead, of Douglas & Gordon, said: “January reaffirms our hunch that 2013 will be a good year for sellers as stock levels are 10% down compared to this time last year and we received 50% more offers from what felt like more motivated buyers.
“The actual number of buyers registering is consistently high, and the fact that they are looking in multiple locations shows that many are willing to expand their search at a time when stock is increasingly scarce.”
Chesterton Humberts is also this morning reporting sustained buyer demand and limited availability, although it says that stock levels are up 14.7% on this time a year ago. It says that all the indicators are that this year will see further improvement in market conditions.
The firm said that in 2012, prime London residential property price growth exceeded the FTSE 100, as well as gold and oil price growth. It is forecasting further price rises of 3.2% this year.
WA Ellis has reported its busiest January for sales since 2009. The firm says it sees no let-up in interest from overseas buyers, and reports that 75% of its own sales in the last three months have been to foreign investors.
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