propertytalk Live! - Demand for family houses stays strong

propertytalk Live! - Demand for family houses stays strong

Demand for family houses remains strong, according to the latest Winkworth Quarterly Market Review.

The Review also found that activity in early 2011 surged following the winter slowdown.

Other findings:

* Rise in buyer demand as registrations increase 90% between December and January;
* Property stock levels boosted by injection of new properties in January and February - the number of new instructions doubles between December and January;
* Strong demand creates a sub-market in central London in which quality properties are snapped up above the asking price before the details have been released;
* Buyers from the Middle East make up 20% of foreign buyers in prime central London - up from 12% - as unrest causes buyers to seek security in the London property market;
* Market outside London begins to thaw with demand increasing and sales agreed recovering well after winter hiatus;
* More rental properties come onto the market as landlords grow their portfolios to take advantage of strong demand;
* Rents, however, continue their upward march as supply fails to meet demand; average rents across the UK now stand at £2126 per month - average rents outside London are now £972 per month while rents in prime central London currently stand at £4016 per month;
* Overall outlook for sales market in 2011 is flat, but prime areas and large family homes will continue to see price growth as demand outstrips supply