London Market Update – and why it matters…
Trigg & Co are the ONLY Island agent to have access to Lonres, the number one system used by the Prime central London estate agents and Property Search Agents to find properties for their clients, accessed daily by over 3000 of London’s top property professionals.
It’s not just a relationship with one London Agent – but ALL the leading firms.
Lonres publish regular authoritative reviews of the London market and it matters to us here on the island. You have probably heard of the ‘ripple effect’ – where what happens in London spreads out and impacts places much further afield. Mainland buyers really matter to us so we keep a close eye on the London market through our affiliation with Lonres.
So what’s the story?
Well, Lonres report that new listing numbers are up by 11% over the same quarter last year, with activity centred on property below the £2m price level. Overall London prices are showing a small downward trend, with a 3% year on year fall – reflecting perhaps the fact that the prime London market showed the biggest decline at the top end following the stamp duty changes and the Brexit vote. The market seems to have changed too with fewer investor buyers and more owner occupiers looking for a long term family home.
The feeling seems to be that the prime London market may now have started to turn a corner, and if that’s case it is positive news for Island sellers with more expensive homes to bring to the market. Most mainland buyers have a property to sell and we need chains to be moving from the very top to the very bottom to make those moves possible.
Have a larger family home or high value Island property to sell?
Only Trigg & Co on the Island have their finger on the London pulse through Lonres.
Another reason why should trust our expertise when it comes to marketing your own property to the widest audience.
Call us on 01983 525710 for a FREE confidential market appraisal from one of our expert valuers.