January was a record month for London property sales

As demand continues to grow for property in London, January was a record breaking month in the country's capital.  More than a third of all properties put on the market were sold within a fortnight of being listed.

According to data compiled by London agents, Marsh and Parsons published in 'Todays' Conveyancer', nearly half of all those properties were sold for more than the asking price.

It seems that due to a four year high in the market, there is an issue with supply and demand. Figures suggest that there are a staggering 23 buyers to each property.

As the trend has historically seen property levels increase in the spring time when weather conditions should be fairer, it is now thought that these properties could miss out on the New Year boom.

A spokesman at Marsh and Parsons has reported that the increased demand for properties has pushed prices ever higher with sought after areas like Clapham and Balham rising by a staggering £100,000. As buyers struggle to get their foot on the first rung of the property ladder, a two bedroom house in budget could be slipping further from their grasp.

In the last four years, the London property market has seen an average ten percent rise of houses entering the market between January and April, these figures spiked between 2012 and 2013.

Peter Rollings of Marsh and Parsons explains, "Now is the time to get a jackpot price on property thanks to a surge in potential buyers entering the market in the New Year".

If you are buying or selling a property and need to speak to our conveyancing team call 0845 603 0708, or complete the form on the right and we'll call you back.

National Solicitors
London & Peterborough Property Solicitors
Tel: 0845 603 0708