London property market sees substantial rise in prospective buyers

London property market sees substantial rise in prospective buyers

There has been a 22.1% rise in the number of new prospective buyers in the prime property market in central London since the European Union Referendum compared to the same period in 2015, according to a new report.

The number of properties under offer in the eight weeks since the Brexit Referendum rose 19% compared to last year’s web viewings grew by 20.8% while viewings increased by 49%.

The report shows that buyers in overseas currencies are benefiting from an effective discount of more than 10% since the start of the year due to the depreciation of Sterling. Meanwhile, the Brexit Referendum has been the trigger for some vendors to reduce asking prices to levels that take higher rates of stamp duty and the new economic and political climate into consideration. LINK

[Source: Propertywire]