Volcanic fall-out fails to dampen property spirits

Andrew Giller, Partner and Head of London and Home Counties property buying consultancy, The Buying Solution, said: “The ash cloud has actually worked to our advantage; we had a viewing arranged with a Russian client here last Friday. He was due to fly back home on Friday night after seeing around ten properties but subsequently, he is stranded in the UK.  As such, we discussed all of the properties at length over the weekend, scaled it down to three which we viewed on Monday, and we have since made an offer on one.  Because international clients usually fit visits into their travelling schedules, this sort of thing would normally take weeks – however, we have managed to get everything arranged and offer on a house in a matter of days.”

Jo Eccles, Property Expert and Director of Sourcing Property, said: “We’re finding that the ash cloud is actually working in our clients favour as there have been fewer competing buyers able to view property in the past week.  I viewed a family house with a client in Islington yesterday and the agent stated that a lot of her applicants are stranded abroad following their Easter holidays, so can’t attend a viewing. Vendors who want to act quickly are unlikely to be flexible for those who are stranded, as some potential buyers may not return weeks.”

Laurence Glynne, Senior Partner of West End specialist estate agency, LDG, said:

“Despite the eruptions in the Icelandic region, deals are simmering in the West End London property market – we have agreed sealed bid sales with foreign buyers today, and we have a UK buyer in New York who will finalise a sale this week, so the dust has not settled yet!  Email and internet has enabled us to continue, so it is business as usual for LDG.”

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