Will the olympic flame fan the London mews market?
London’s long awaited Olympic summer is nearly upon us and by the end of this month the world will have had an opportunity to admire the lean and professional athletes taking part in the opening ceremony.
Unless what I read in the financial press is wrong, it is what is happening to the Eurozone, rather than a summer of sporting events, which has the most impact on the decision making of house owners. Their tangible assets are so highly sought after that record prices are continuing to be set with nearly every completed sale.
Something common amongst all estate agents in central London is that stock levels of property, and most noticeably freehold houses, are at an all-time low. This is good news for vendors, who of course are looking for the best price possible, but not so good for buyers and those looking to trade from one property to another. The choice is extremely limited and, with no sign of prices abating, the best advice has to be, be prepared to make a compromise on one aspect of the property and be ready to move quickly; if you don’t then someone else surely will!
Keep an eye out for the forthcoming summer edition of our Mews News quarterly newsletter (out now) which, as always, is full of fun stories, interesting anecdotes and historical facts about mews. Feel free to pop into any of our branches and grab a copy.
Written by Duncan Petrie | Sales Manager
Featured Image Attribution: Neil