No sign of a coronavirus crunch as uplift continues in central London market, says Chestertons

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.

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3 Comments

  1. Rickman2154

    Would love to know who’s verifying their figures?????

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  2. Hillofwad71

    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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  3. James Wilson

    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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