31 Mar

Houses for sale in London perform well at auction

Houses for sale in London perform well at auction

Property for sale in London fared well at the recent Savills Property Auction, which achieved an 87 per cent success rate.

Generating more than £25 million, houses for sale in London were snapped up by a mix of residential buyers and buy-to-let investors looking to add more property to rent in London to their portfolios.

Chris Coleman-Smith, head of Savills Auctions says the firm are pleased with such an "outstanding" result.

He said: "London postcodes are selling really well due to such strong demand and Savills great marketing reach.

"Many cash rich investors are buying property due to the very poor returns elsewhere."

The firm reports that more owner-occupier buyers attended the auction than usual, potentially to buy property for sale in London that can then be improved and renovated.

Last month, prime houses and flats for sale in London saw a one per cent price boost, Knight Frank has revealed.

Annually, London property has see growth of eight per cent, its index reports, which could mean more return on purchases made by buy-to-let investors.ADNFCR-1222-ID-800482846-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.