Sellers In London Receive Asking Price

Estate agency Cluttons has found that sellers in London are receiving 98% of their asking price this summer, compared to just 70% last year. It’s also taking 4.7 months to sell a home in London now – half the time it took last year.

Of course, with London prices far outstripping the national average, it’s no surprise that London is where the property crash was felt most. Even now London is seeing the biggest recovery in house prices and rental values. Just like in the rest of the UK, there is a shortage of good housing on the market in London and this accounts for the strong position sellers now find themselves in.

Things aren’t so rosy for buyers however – mortgages are still in short supply, and the lack of available housing means there might not be anything that meets your criteria, even if you can afford to buy your own home.