The London Barometer October 2011

Sales: October 2011

Market Comment

“By any measure October has been an extraordinarily good month for sales at Douglas & Gordon, with the under offer pot at close to a four year high, and agreed offers 65% up on the same period last year.”

“The figures clearly show the increasing appetite both buyers and sellers have to move, which now seems to encompass the domestic market as well as the international. This trend is now spreading to offices outside the Royal Borough of Kensington & Chelsea which are now as busy as they’ve been all year.“

Ed Mead, Director

Lettings: October 2011

Market Comment

“The lettings market is notoriously seasonal and the busy summer months are now behind us. A lull in activity in October provided a relative calm after the storm, however, demand has held up with more applicants registering in October compared to this time last year, although there has been an 18% decrease in the number of new properties coming onto the lettings market.”

“A significant number of landlords are selling their rental properties to take advantage of the higher prices the London market is achieving, which is forcing many tenants out of their leases. These properties are invariably sold to new owner occupiers, further reducing the stock of rental property available to an increasing number of people looking to rent long term, who are not in a position to buy.”

Virginia Skilbeck, Director