Hamptons figures indicate there has been an increase in average sale prices during Q2-2009 of 4.2% compared to Q1-2009. Average prices in London picked up 5%. Across major commuting locations around the capital, prices increased by 2.6%.
Price gains are being driven by competition in the marketplace – with 75% more applicants than this time last year, Hamptons International figures show the ratio of would-be buyers per seller is now nationally around 9-to-1 in line with the ‘good property markets’ of 2006/07.
The positive indicators abound in the country market, for example;
- Applicants in Q2-2009 were 61% higher than Q2-2008
- New supply is still down against last year by 10%.
- Sale prices picked up 2.4% as a result of the disparity between new stock coming to the market.
- Letting prices picked up an average of 2.5% in the last quarter, compared with a decline of 1.6% in the opening quarter of 2009.