You are here: Home - Mortgages - Buy To Let - News -

London property market enjoys strong Christmas

Written by:
Properties for sale in Greater London saw a hike in asking prices over the Christmas period, as the Capital continues to enjoy reduced selling times.
London property market enjoys strong Christmas

Data from the latest Move with Us Residential Market Review has revealed that asking prices for properties in Greater London rose in December 2012 to £358,200. 

London also bucked the trend of the traditional Christmas market slowdown that was experienced by the rest of the country as expected at the end of each year.

Ben Greco, director at Move with Us, said: “Most recognise that the London property market exists in its own bubble and the most recent data shows the capital can even be immune to the usual seasonal trends most in the industry assume are a given.

“Rising asking prices coupled with reduced selling times is a clear sign of a strengthening market.

“This could have been caused by any number or combination of factors – the multi-cultural nature of our capital’s buyers, the impact of foreign investors or a low supply of quality property for sale.”

In December London properties were selling quicker than in previous months, and 43 days faster than the UK average.

Move with Us says that although widely acknowledged for its resilience to market decline, this is a surprising trend for London, as in 2011 residential properties took increasingly longer to sell each month in October, November and December.

2012 saw this trend reversed, with properties selling faster each month in quarter four ending the year with properties selling 22 days faster than the same time in 2011.

Greco added: “Whatever the cause, buyers should be aware that in the fast paced London market, they should act quickly to secure the right property.”

Related Posts

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Call for harsher restrictions on young drivers

Half of UK motorists would welcome a zero drink driving alcohol limit for young drivers to help reduce accidents on...