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Cromwell Tower 3-bed apartment to be let by Frank Harris at £795 a week.


Nick Scott at Scott City: We have had a very busy last two months with most of our stock going under offer especially

in the Barbican. The Barbican continues to be in high demand with many properties now achieving in excess of the asking price. At present we only have one flat available for sale on the Estate, this shortage of supply is pushing up prices as demand keeps growing. It is difficult in this changing climate to know precisely the value of your property, we would be happy to offer a free valuation with no obligation. Leon Stone at Hamptons International: “After a summer that was busier than expected, Hamptons are expecting the autumn market to really explode as demand continues to increase while supply only remains

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steady. Correctly priced properties are achieving asking prices quickly and we’re seeing the return of best bids resulting in sales being agreed at over the asking price. With an uncertain stock market and rising rental figures, we’re seeing a large increase in investors pulling money out of the stock market and buying rental investments, with gross yields now averaging 6%. There is still high demand from local buyers but they’re often finding themselves being outbid by international buyers, especially those from China and more recently India”.

Glen Cook of Hamilton Brooks says, we have had a very busy last 3 months, a small increase in the number of instructions, and all the sales we had under offer have exchanged contracts and completed on time. We then hit the holiday season period from the beginning of July which, as predicted, was pretty quiet, We did have though a small number of new instructions, which went under offer.

The new apartments in Frobisher Crescent are nearly all but sold; at the time of writing we had 2 left (so if anyone wants a last minute ‘Buy to Let’ investment please act quickly!!). The next 3 months we expect a trickle, not a flood, of new sales, if I had a flat I was thinking of selling in the next 6 months, I would be doing it in the next few, who knows what’s around the corner.

Lettings Glen Cook: The rental market is still very good if you are a landlord that is, the demand seems to be focused on the under £500 per week bracket, over that, demand is considerably lower. Jack Davison at Scott City: News that the City jobs market is recovering and pay is rising after the dark days of 2008 and 2009 is excellent news. Though there are always prospective tenants from overseas looking for a base, there are an increased number of clients looking for a pied a terre. A number of properties we have had available in the Barbican have been proven to go within a number of days of coming onto the market. We have seen a 10% continued rise, from the winter, in rental prices throughout the Barbican, proven by a small style studio in Breton House achieving £290 per week. As ever, all types of Barbican properties are urgently required.

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