Sales Market View | Spring 2015

The sales market across Prime Central London has certainly been tougher over the last few months, with lower demand in the mid-high price brackets, but the market sub-£2m still seems to be thriving with a shortage of stock, attractive mortgage rates and a good number of buyers keeping demand high.

However, the market still remains sensitive and only realistically priced properties are attracting interest and selling quickly, albeit now achieving slightly under asking price, a very different story to 12 months ago.

Prices remain stable for now and we don’t foresee any significant dip on the horizon, although a price adjustment may be necessary for optimistically priced stock in the mid-upper price brackets, however with the current market somewhat stagnated across the board, we would hope for a little more fluidity post-election.

Our overall view is that this is neither the market for setting new record prices nor driving hard bargains. With interest rates remaining at an all time low (but for how long?), sellers, be they developers or owner/occupiers are able to hold their assets at a low cost, meaning little need for speedy disposal. However, buyers should see this as an opportunity to secure a prime property at sensible price with the advantage of fixing any financing at an attractive rate for the short-medium term.