12 Mar

Owner-occupiers 'causing rise in demand for new-build properties in London'

Owner-occupiers 'causing rise in demand for new-build properties in London'

The rise in demand for new-build properties in the capital has been led by owner-occupiers, it has been claimed.

According to David Bexon, managing director of SmartNewHomes.com, such consumers are increasingly keen to take advantage of the offers available on the market - potentially including flats for sale in London.

He stated: "The new-build sector has been consistently undervalued ... and buyers are now increasingly eager to take advantage of the many good deals on offer from developers."

His comments come in the wake of figures released by Knight Frank, which revealed that sales of newly constructed residences in the city went up by 214 per cent over the course of the last year.

This was higher than the rest of market, which recorded a rise of 68 per cent over the 12-month period.

Liam Bailey, head of residential research at Knight Frank, said that one of the most significant changes in the market has been the shift from investment buyers to owner-occupiers.
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