Capital attracts aspiring homeowners

17-Nov-2005

Estate agents in London have reported a rise in the amount of interested buyers coming to the city, boosting the number of sales in the area.

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Figures released by Hamptons International show a 67 per cent growth in registered house hunters, compared to the same time last year, and indicate that aspiring homeowners are making the most of lower prices and returning to the capital.

The number of agreed sales on properties in London has increased by 35 per cent, while exchanges have also risen by 40 per cent.

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Although there has been a drop in the number of properties on estate agents' books, both in and out of London, this does not seem to have discouraged any first time buyers who are determined to live in the big city.

"Sales are being agreed in shorter timeframes than for many months," confirmed Marc Goldberg, Hamptons' London sales director.

The survey also found that the sale of buy-to-let properties is increasing, up by six per cent in London and by 18 per cent in the rest of the UK, as more aspiring homeowners choose to take this alternative route of getting on the first rung of the property ladder.

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