Prime London property market 'is seeing more supply'

Posted: 07 Jun 2011 10:41:40 GMT

Many house buyers are still looking towards prime property.

Buyers looking to invest in prime London property should find there is plenty of choice at the moment.

Nigel Ellis, director at Pricket & Wllis, says many people are looking to make a profit at the moment and take advantage of the housing market situation, which means more homes may well come up for sale.

"We are now finding that the market is getting more supply so the demand is having more of a choice and that means they will negotiate more," he suggests.

Some sellers will choose to place their house on at a high price, with the belief that they have nothing to lose, but this could mean there is room for manoeuvre.

Liam Bailey, head of residential research at Knight Frank, recently claimed the top end of the London and Paris property markets are appealing to wealthy international purchasers, as well as the domestic rich.

This could mean they are affected by global economic trends, as well as the situation in the UK.
 

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