Standard prices for London properties have steadily increased, rising about 7% this year and taking the average worth of a property in the capital to almost £600,000.
As demand continually develops for a lot of properties at the capital, seller confidence will be boosted up. This is partially caused by a lack of supply this previous month; according to the data collected from the National Statistics Office, it was found out that ‘personal house building’ has reduced by 1.6% again this year.
The demand for property will continue to grow as improved Government policies make it easier for buyers to penetrate the housing market. Better access to low interest rates and mortgage lending are also offering larger encouragement to buyers.
Increase in demand is surely great news for sellers; with 20 clients/buyers for every property in the capital providing homeowners with bigger confidence on getting their asking price.
In the midst of this huge demand and Government schemes intended to develop home ownership, there will surely be additional opportunities for homeowners looking to sell their property.