24 Jul

Summer Season

As we enter the holiday season we can take a deep breath, take stock and look back at the past six months. Since the start of the year the residential sales market has been frantic to say the least! However, the London market looks to be levelling off in dramatic fashion – and not just in its prime central postcodes – as it appears that buyers are holding back while sellers belatedly attempt to cash in. Statistics confirm that sales across the whole of London are down, while supply is up. Whilst interest rates remain low and the fundamentals of the economic recovery are positive, the “mood music” coming from the Bank of England urges caution. In Central London confidence is a key factor in motivating buyers, many of whom are happy to bide their time if they think that the asking price is inflated or unsustainable. Emerging evidence would indicate that keen vendors will need to adjust their expectations if they wish to find a buyer this summer and autumn. So, let’s all enjoy the (for now!) beautiful weather and prepare for what is to come this autumn.

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