Eight buyers chasing each property in London!

[totallyproperty]

A recent report suggested that there are on average eight buyers chasing each and every property for sale in the London area. Is this your experience of property markets around the UK?

Would you use this as an indicator that the UK property market is still very strong?

 

[Veronica]

Judging by the number of sales pending in Cyprus while the potential buyers are struggling to sell their homes in the UK I would say that this is just a localised thing to the London area. It is always the same story, London does well while other areas of the country are struggling.

 

[strongman91]

only 8, i was being told about 10. is it really that strong? which kind of property is that? and in which price range? Thanks

 

[totallyproperty]

Demand for London property seems to be fairly widespread across the region with excessive demand seen in the more luxury end, often from overseas investors, although the cost of houses in some former so-called unfashionable suburbs has shown significant growth. The simple fact is that London property has been in great demand over last couple of years but are we now approaching a period of consolidation and reduced demand?

 

[Wesley Lorn]

This demand leads to bargaining the reductions on the rent by the tenants.

 

[samanthaflax02]

You are right the demand London property is quite high and seems to be higher in next few years.