12 May

London property market picks up

London property market picks up

More property is being sold in some parts of London, compared to the start of the year, according to a property professional in the capital.

Peter Rollings, managing director of estate agent Marsh & Parson, said people who have the purchasing power are "competing hard for the best properties" in the region.

It may be particularly beneficial for people with homes to sell in Kensington, Chelsea and Mayfair, as buyers are apparently seeing the value in property in these prime parts of London.

Mr Rollings comments come after it was reported that transactions in the prime London property market are "substantially up" at the moment.

"The number of people exchanging contracts has risen about 70 per cent from January following excellent buyer registrations in the first quarter," he explained.

The prime property market in the capital continues to improve, he added.

Halifax indicated this month that Scotland and Yorkshire-Humberside are currently the most affordable UK regions for first-time buyers.
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