Market Analysis Spring 2011


Contents Highlights


Market Overview London Prime Central London Country UK Rentals Conclusion and Outlook Highlights 3 4 6 9 11 12 14


This report is based on data and comment collected from a monthly survey of the network of Winkworth offices. As such, the contents are to some extent subjective and open to interpretation. It is believed to provide a fair and honest view of the market, but readers should be aware that the past year may not provide an accurate guide to future trends. No decision to buy or sell property should be based solely on its contents.


Produced by Winkworth Franchising Ltd in conjunction with Wriglesworth Research. © Winkworth Franchising Ltd 2011


„ Activity in early 2011 surges following winter slowdown


„ 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


„ Despite resurgence in new sales instructions, low overall levels of stock still characterise the London market


„ New buyers enter London’s property market to give average prices a boost


„ Prime central London enjoys a resurgence of buyers using bonuses to invest in the property market


„ 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 £2,126 per month - average rents outside London are now £972 per month while rents in prime central London currently stand at £4,016 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


Market Analysis Spring 2011


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