propertytalk Live! - Central London buyers must move fast to secure prime property

propertytalk Live! - Central London buyers must move fast to secure prime property

Extremely low levels of property for sale are likely to remain a feature of the Central London market for the foreseeable future, and buyers need to adjust to viewing fewer properties before making an offer.

The new data from Cluttons shows that current stock levels are 60% lower than the same period a year ago and 93% down on the same period in 2008.

Where in the past the average buyer could reasonably expect to view upwards of ten properties before making an offer, they are now lucky to find just three or four which match their criteria.

James Hyman, Partner for Residential Sales at Cluttons, said:

"Buyers in Central London are facing a very different market in 2011. We are seeing lots of disappointed buyers who have held off from making an offer in the hope of securing more viewings and consequently missed out on a property they liked. If they see a suitable property, they should act quickly to secure it rather than waiting for more choice to come onto the market.

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