Ian Dickson, Franchisee of Winkworth Hammersmith and Shepherds Bush said: "We have seen an increase in new properties to the market which we are confident will carry on into 2010; particularly if mortgages ease and interest rates become more competitive."
In comparison, stock levels in Central London, although they rose slightly in October, have remained at relatively the same level since April this year. Central London has always been a coveted area to buy into and prices here are recovering quickly.
The market has been helped during the downturn by foreign buyers, keen to own property in London and to take advantage of the comparative weakness of the pound. The reported return of bonus buyers to the market will further exacerbate competition for property in Central London.
James Moran, Franchisee of Winkworth South Kensington said: "Buyers not linked to the financial sector are anxious to purchase before early next year when the bonus buyers will return. The financial sector now represents 15-20% of general enquiries in our office, compared to 5-10 % in August this year. In what is now a seller’s market, the return of bonus buyers next year could make the already stiff competition for property even more pronounced."
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