London agent Chestertons says that the Boris bounce is still alive and kicking – and that there is no sign of coronavirus blues.
The agent says that in the first two months of this year, it had a 69% rise in new instructions compared with 2019.
Viewings are up 56% and enquiries by its portal up 57%. Asking prices are being achieved or exceeded.
In its Notting Hill branch, the number of new buyers is up 133%, and 25% of exchanges so far this year have been off-market.
As at the end of February offers were up 19% and agreed sales up 125%.
One property for sale through the branch had a sale agreed for just below the asking price in September.
A new buyer came in with the full asking price in January, gazumping the original purchaser. The property was sold the same day through an attended exchange.
In the Chelsea/Knightsbridge office, transactions have so far more than doubled from a year ago, and the business pipeline is 50% up.
In the firm’s Fulham branch, a record 22 deals were agreed in February, with multiple offers received on a number of properties.
In the Hyde Park office, two flats that have been on the market for one and two years respectively have now had acceptable offers on them.
A spokesperson for Chestertons said that the firm’s figures suggest that the feel-good factor – or Boris bounce – is still continuing.
The spokesperson said there is no sign of any slowdown because of coronavirus fears.
Would love to know who’s verifying their figures?????
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Exactly.
Just looking at CWD Central London brands John D Wood and Hamptons .Certainly picked up since H2 but only risen from moribund to below pedestrian unless they are arranging a disprorrtionate amount of deals off market
Hamptons Knightsbridge acc .to Zoopla just the 10 instructions 0 under offer
John D Wood Sloane Square 19 instructions Just 2 under offer, 1 from a listing last June and the other from June 2018 !
Just1 sold STC and that was listed way back in May 2018 and at £350k . It must be the cheapest flat in the area
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69% increase in sellers? That sounds about right. About the same as the S&P500 I would say. The muppet who ‘gazumped’ in January must be feeling serious buyer’s remorse right now.
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