London barometer
EXECUTIVE DIRECTOR, DOUGLAS & GORDON
OFFERS received on properties in February are nearly double the amount recorded this time last year, and they are at the highest levels seen in over 12 months. This is almost certainly because of multiple bidding which is particularly prevalent in emerging prime markets such as Battersea Park and East Putney.
With 30 per cent more instructions compared with February last year and 15 per cent fewer new applicants registering, there are suggestions that prime areas are cooling a little, and with concerns over the Budget and the 2015 election, we may see this continue short-term. For the moment though, it seems demand in emerging prime is showing little sign of slowing.