New property sales listings on Rightmove for June were up 7.3% on the same period for 2017 (The Sunday Times, July 15th, 2018). That is the month’s highest numbers in five years. The usual quiet time is not so quiet this year. With that in mind perhaps it is time to take stock and decide whether to take the plunge into the property market now, instead of waiting until after summer has passed.
London House Prices Growing Again
One of the factors which may have attributed to good listings this summer could possibly be the stabilising house prices in London currently. According to a JLL report published this month, the London property market has had a price growth for the second quarter this year, hence an annual year-over-year price growth is imminent. That will be the first growth since 2015.
Sellers are now breathing a sigh of relief and have decided not to wait too long before bringing their property to market. Buyers will want to make that purchase before prices rise further. Although growth is very slow, property prices are on the rise.
Poor Spring Pushes Property Listings Back
Another factor contributing to the upturn in summer listings is likely to be our very poor spring this year. Bad weather and a long winter left our green spaces looking decidedly grey and unphotogenic. Consequently, the summer market has blossomed and both buyers and sellers are out there in larger numbers than usual having waited for the change in seasons to arrive.
Thinking of selling your London property?
For anyone who has been considering selling in London this summer, don’t sit on the fence, do something about it. Give our sales team in Henry Wiltshire Estate Agents at any of our London offices listed below a call today, they will give you all the expert advice you need. For those of you in the market to buy in London, click onto our link below and see what we have on our books or give the team a call, the perfect property could be coming to market soon.