CENTRAL LONDON AGENT REPORTS HIGHEST NUMBER OF SALES ENQUIRIES SINCE MAY 2008

Hurford Salvi Carr report that the number of unique website enquiries for sales properties in the week commencing 15th March 2009 overtook the number of new enquiries for residential rental properties for the first time since May 2008.

The upturn in website enquiries mirrors the sales activity in Hurford Salvi Carr’s four West End, City and Docklands offices with increased viewings throughout March resulting in the best sales week so far this year in the week commencing 15th March 2009.

With home owners deserting the sales market in favour of the lettings market the shortage of properties available for sale is now acute and prices have firmed up. It is now unlikely that further price falls will be reported in the 2nd quarter of this year as buyers are now competing with each other for new instructions.

Hurford Salvi Carr had three instances of best bids from multiple buyers for the same properties last week resulting in sales at above the asking price. The majority of purchasers have a high percentage of cash to put towards the purchase prices and are a mixture of first time buyers and pied a terre purchasers looking for second homes in London.