Why is the market outlook for 2017 positive?

As we enter 2017 the outlook for London property appears positive. Although the EU referendum result sent a sudden chill through the market, activity in the capital has slowly warmed up again.

However, in this post-Brexit environment, selling prices have moderated and price inflation has slowed. With more considered prices, buyers are being attracted back into the market. As a result, supply and demand appear to be in reasonable balance.

Just last month, we reported that new figures from the National Association of Estate Agents showed the number of prospective house-hunters jumped by 16% in a single month.

This is good news for buyers and sellers alike, helping to sustain market buoyancy and maintain momentum to get transactions moving forward.

This is in large part a reflection of the strength of property agents’ relationships with clients to help them get sales agreed at the best possible price. Expert advice is invaluable in helping sellers to understand market dynamics and develop a sales strategy which both meets their needs and suits market conditions.

Stephen Ludlow, Chairman at ludlowthompson comments, “As we look ahead, the London property market is showing real resilience, with buyer interest returning as sellers take a measured approach to asking prices.

“By working closely with their agents, sellers can get greater clarity on their position than ever before, which will ultimately help them achieve a successful sale at the right price. They need to know, not just the way the market as a whole is moving, but the specifics of their own sale, with real-time analysis of viewings and transparent, immediate feedback key to informing smart and swift decision-making."