Number of property sales in London up 26.4% since last year

Buyers feeling confident now that General Election is over

The London property market is set to bloom this spring, with a leap in the number of sales agreed across the capital.

The number of agreed sales in London jumped 26.4% compared to the same period last year, according to research from Rightmove. 

Property searches show no signs of slowing down either. Monthly traffic to Rightmove was up by 7.2% on prior year, reaching a new record of over 152 million visits in January.

The average price of a property coming to market increased by 0.8 per cent – or £2,589 – this month, close to a new all-time high.

Analysts suggest that buyers had previously been holding back on purchases due to political uncertainty. Now that the General Election is over and the UK has exited the EU, buyers are moving forward with sales at a record rate.

Stephen Ludlow, Chairman at ludlowthompson, says: “Demand for property continues to remain strong. The General Election has removed a big cloud that has been having over the residential property market. Buyers now feel more confident about signing on the dotted line.”

“It’s likely that property sales will gain further momentum as we move into Spring with buyers keen to take action. If you’re planning to sell a property, now is a good time.” 

ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three-year period, we ranked number 1 agent in the UK on all agents out of 15,000+ agents, with 5300+ 5* reviews. Here is a selection of recent reviews of happy customers of ludlowthompson via Google Reviews:

Lana Soko via Google Reviews:

“We just sold our 2 bed BTL in Camberwell. ludlowthompson were very efficient, got great interest in the property, and made the sale process smooth and quick. Highly recommend this agency.”

Paul Paragon via Google Reviews:

“Thoroughly professional and great expert advice with a friendly and trustworthy service. I wish I could have had this team for all my other house sales. Highly recommended.”