Prime Central London, one of the most expensive residential property markets in the world, is witnessing improved demand with more number of prospective house buyers exploring the residential assets for sale.
According to latest data from leading international property consultant Knight Frank, sales volumes in the six months to November 2017 were up 10 per cent on the same period last year, as the market continues to recover from lows seen in the middle of last year.
There was a 2.8 per cent rise in the number of new prospective buyers registering between January and October 2017 compared to the same period last year. The property viewing levels were also up by 8 per cent during the period. While demand is rising, the level of new stock coming to the market has declined, adding to price inflation.
“The number of new listings above £2 million in Prime Central London (PCL) between January and October 2017 was down by about 17% compared to the same period in 2016,” Knight Frank said in its PCL Sales Index for November 2017.
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There has been a cautious re-emergence of buyers in the market. There was a 2.8% rise in the number of new prospective buyers registering between January and October 2017 - Knight Frank