Prime London Sales Spring Market Overview 2018
Many home owners have been asking my thoughts on the property market , and in particular, what is happening to property values. While the market is still challenging we have seen the gap in expectation between vendors and buyers getting narrower. Some key take away's from Lonres Spring 2018 property sales overview report include:
- New homes increased by 11% compared with this time last year.
- Increase in new supply more pronounced below £2 million , seeing a 13% increase when compared with Q1 2017.
- Homes over £2million rose by 5% over the same period.
49% of agents surveyed expect sales volumes to be higher the next 12 months than the last.
- Prices fell 5.8% under £2 million to £1,038 per square foot over the same period.
- Buyers are seeing value and are becoming less cautious of short term price fluctuations on what they hope to achieve.
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