Chestertons dedicated Research department compiles regular reports on national and international property trends. As well as providing information and guidance on property legislation, for all those involved in buying, letting, renting or investing in property.
A lot more sellers are having to reduce the asking price in order to get a sale.
With new buyer registrations up by half, there has been an 11% increase in the number of exchanges.
Good old mum and dad making it possible for young people to get on the property ladder.
The increase of new builds coming onto the market has affected the price of the Mayfair market. The older portered blocks have become more difficult to sell. Foreign buyers are benefitting from the weakness of the pound.
With 41% of home owners selling in the UK in the past 5 years have had to settle for price cuts on their original valuation. Average property prices across London has risen resulting in 26% of people hoping to buy their first home opt to live with their parents in order to help them save a deposit.
There are encouraging signs that the prime sales market in London is recovering some of its loss in terms of activity, although this is not apparent in all locations and may not be sustained in the traditionally quieter final quarter of the year.