{"id":5024117,"date":"2019-07-02T12:12:32","date_gmt":"2019-07-02T11:12:32","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=5024117"},"modified":"2023-10-10T16:03:12","modified_gmt":"2023-10-10T15:03:12","slug":"return-of-the-buyer-in-london-as-property-prices-stabilise","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2019\/07\/02\/return-of-the-buyer-in-london-as-property-prices-stabilise\/","title":{"rendered":"Return of the buyer in London as property prices stabilise"},"content":{"rendered":"

The number of buyer registrations in London has risen by 19% since the start of this year compared to 2018 according to the latest research from estate agency Chesterton’s.<\/strong><\/p>\n

The volume of exchanges in May leapt up 23% year on year across the capital indicating a commitment from buyers feeling confident.<\/p>\n

Prime Central postcodes in London have seen the highest rise of 32% in areas including Chelsea, Westminster, Mayfair and Knightsbridge.<\/p>\n

London property prices start to stand firm<\/h4>\n

Chesterton\u2019s research also identifies that the volume of properties with asking price reductions in London has declined.<\/p>\n

Up until May of this year, 35% fewer properties had price reductions in London compared with the same period last year, suggesting a renewed appetite for property and more confident and active buyers.<\/p>\n

Guy Gittins, managing director at Chestertons, said: \u201cWith confidence comes an acceleration in activity and that\u2019s what we\u2019re seeing as buyers shrug off the current political uncertainty and the London housing market starts moving again.”<\/p>\n

“This has been the most encouraging start to the year we\u2019ve witnessed since the European Union referendum result, and the change in buyer appetite is palpable.”<\/p><\/blockquote>\n

Capital short on supply<\/h4>\n

New property stock is still significantly down on 2018 \u2013 there are 15% fewer properties available over the first five months of this year compared to the same period in 2018. In Prime Central London (PCL) numbers in May 2019 were 20% less year on year.<\/p>\n

Mr Gittins explained: \u201cDemand for properties is overwhelming the current levels of supply. Motivated buyers have been quick to recognise the opportunity presented to them by property prices offering genuine value for money.\u201d<\/p>\n

\u201cThe recent upswing in buyer demand means it\u2019s much more likely that a property will sell for its asking price compared to a year ago, as competition for available homes ramps up.”<\/p><\/blockquote>\n

“We know there\u2019s a huge amount of pent-up demand in the market and once there is greater clarity over Brexit, more buyers are going to be getting off the fence and flooding into the marketplace.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The number of buyer registrations in London has risen by 19% since the start of this year compared to 2018 according to the latest research from estate agency Chesterton’s. The volume of exchanges in May leapt up 23% year on year across the capital indicating a commitment from buyers feeling confident. Prime Central postcodes in… Read more »<\/a><\/p>\n","protected":false},"author":217,"featured_media":14699,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[12,6],"tags":[33,11],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/5024117"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/217"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=5024117"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/5024117\/revisions"}],"predecessor-version":[{"id":6092474,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/5024117\/revisions\/6092474"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/14699"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=5024117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=5024117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=5024117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}