New year surge in London home buyers and lack of homes for sale ‘likely to drive prices higher’

According to new figures, the number of buyers who register with London estate agents has risen in the first week of 2019. This is compared to eight registrations per 10 homes last Jan and six in January 2019, and a total of 28.
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Lucy Pendleton, co-founder, said that the new year had really galvanized London buyers. There have been large increases in inquiries and registrations indicating a determination to join or climb up the property ladder by 2022. “While interest in the capital has slowed over the past two years, it feels like this year could see property plans that were parked during Covid return to full strength. With a reduced supply of housing stock, the market is set for a very hot sellers’ market through the spring. This will likely drive prices higher. Buyers should not wait for more homes to go on the market. They should be ready to sharpen their knives and make sure they have all the necessary financial and legal documents to move quickly if they find the right property.