To Sell or to Rent? A Brief Guide to the London Luxury Property Market

An extraordinary month for the London property market saw a phenomenal 80% increase in agreed sales- making this the most successful September for 140 years in volume and value terms! There has been a high percentage rise in the number of application registrations, showcasing the continued indication of recovery of the London property sales market.

Property experts state that the time taken for a sale to occur has decreased, helping to bolster seller confidence, with the word getting out through word-of-mouth exchanges as well as concerted campaigns to kick-start sales.

More property for sale will become available in London in the forthcoming months, and will undoubtedly place the emphasis of sale power back to the seller. Prices in Central London for example are reaching similar levels to the 2007 peak, indicating a prime opportunity for those with London property to take advantage of loosened market conditions.

The London rental market has not shown the same promise as sales; with stock levels decreasing again despite a busy third quarter. There was an overall 26% decrease in September for rental supply in London, and whilst experts think that rents in London have stabilised, people are also wary that continued falling levels of supply will increase rents.

This has created a slight imbalance between supply and demand; September saw an 8% increase in application levels, not unusual at this time of year considering the cyclical rotation of the property market. London tends to be flooded with graduates looking for places to stay, as well as families relocating in conjunction with the start of the new school year. Landlords with property for rent will be advised to take advantage of these conditions to secure potentially higher rents.