If the Country is divided into 10 regions, and an even distribution of properties is assumed, then there would be a sale in each region every 90 seconds, Of course, there are regional differences, there are more properties available in some areas and some places are more densely populated than others, but still the stats are pretty impressive:
- South East and North West, a property was sold during every working minute of the day.
- In the North East where fewer properties are sold than in other, more densely populated regions, there was still a sale every 3 minutes.
At the moment the housing market does seem to be springing back to life, there are a lot of transactions happening in the London region, and we are delighted to be the quickest sales agent in our location, as per our Rightmove statistics. Talking to recent clients the mood seems to be one of resignation, and the need to move is strong in the Capital, so initial hesitation appears to have worn off and people are just getting on with the job of moving.
If you are thinking of selling your home or purchasing in the North West of London, then now is as good a time as any. In fact, it could be the best time, as the market looks likely to start rising again, and demand will cause prices to also rise. So unless you are getting out of the property market altogether once you sell, then you will reap the rewards of the lower pricing if you are a first-time buyer, rental investor or moving on to another property.
For more information on the market, give us a call on 020 7372 0202