Buyer numbers up by 30%

Half year figures released by top London estate agent Chestertons, have revealed that the number of new buyers registering has risen by 30% year-on-year and viewing numbers are up 15%, resulting in a 19% uplift in agreed sales.

Following a sustained period of price reductions throughout 2017, Chestertons’ figures show that prospective buyers flooded back into the market in January 2018, possibly with the view that the London market had corrected itself to a level that started to represent relative value again. The company also recorded its highest January sales figures since 2014 on the back of high levels of activity throughout the last six months of 2017.

The company’s figures also suggest strong signs of improvement in Prime Central London.  The increases to stamp duty, heightened political uncertainty, as well as greater exposure to capital gains tax and inheritance tax for overseas buyers, meant that consumer confidence in the high-value London property market has been fragile for some time.  However, after a period of price corrections, particularly in central locations where values have fallen by as much as 10%-15% from their peak three years ago, the number of new buyers registering has shot up 44% year-on-year and the number of viewings is up 24%.”

Managing Director, Guy Gittins, commented: “Activity over the last six months has shown a marked improvement compared to the same period last year, giving us an optimistic view for the rest of the year. The surge in buyer registrations at the start of the year and an uplift in viewings has converted into a considerable increase in agreed sales.  However, with many of these deals not yet completed due to longer conveyancing periods, the results of the early-year boost will be felt over the autumn period. We have also seen a modest 1% rise in the number of properties that we have brought to the market for sale.”

Shared by: Helen Evison – Helen@theinhouseway.co.uk

 

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Home and Living

High Quality Modular Homes for the UK

Are you looking for added accommodation space in your garden / on your land? Modular Living Homes by tutumHOUSE offer a new way to live – minimalist in form, rich in experience. “There are approximately 9.6 million homes in the UK with a garden shed, and around 52% of the population owns one.” asgardsss There…
Read More
Estate Agent Talk

The most stressful places to move to in the UK

With more people in the UK moving homes during summer than any other season and the average cost of moving in the UK rising to over £14,000, picking the right place to move to has become more crucial than ever. Luckily, new research from Pay Less for Storage reveals the UK cities that make life easiest…
Read More
Estate Agent Talk

Time-Traveling Estate Agent Sequel Climbs Amazon Charts

A UK Estate Agent Currently Bringing Joy to People’s Lives – Shame He’s Fictional…   Eric Meek, the fictional estate agent created by author Dale Bradford, is back for a second outing in The Time‑Travelling Estate Agent 2, a sequel that is already climbing Amazon’s bestselling time‑travel rankings. Estate agents were recently highlighted as the third…
Read More
Estate Agent Talk

Is it finally time for lenders to back green homes?

Andrew Smith weighs the risks and rewards Property developers are increasingly pitching green homes to lenders; however, with sales cycles slowing down and repair costs rising, is now the right time to back sustainable builds and at what price point is there market demand? Sustainability is continuing to shape our future of construction with the…
Read More
Breaking News

Breaking Property News 24/07/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   OpticWise – digital infrastructure in commercial real estate If your building were a product, how would it perform on the user experience scale?  Week 9: Experience as Infrastructure – Designing for Human-Centric Buildings Welcome to Week 9 of our 52-week journey into the future…
Read More
new build homes colchester essex
Breaking News

UK Housebuilding Falters as Construction Hiring Flatlines

New research from Inventory Base reveals that UK construction industry employment has increased by almost 11% in the past five years, but there has been less than 1% growth in the past 12 months. Inventory Base’s analysis of the UK construction industry shows that in 2024 (latest data available) it employed an estimated total of…
Read More