South West London estate agency, Haus Properties, is seeing a high demand for properties in the Fulham and Chiswick area with the majority (97%) going to sealed bids.
The strongest demand is in the £400,000-£800,000 price bracket, where most properties are attracting approximately 12 bids. Jamie Lester, Head of Haus Properties (www.hausproperties.co.uk), comments:
“We are experiencing a demand for both flats and family houses, with the majority (97%) going to sealed bids and selling at asking price or above. Within 48 hours of a property being listed, we tend to see at least a dozen viewings arranged, and most properties are selling in less than a week.
“The particularly high demand for homes within the £400,000-£800,000 price bracket can be mainly attributed to first time buyers who are now confident in the market, investors who want to enjoy good capital gains and strong rental yields (at approx 4-6%), as well as Trust funds looking to secure property in the local market.
“We’ve also seen a notable increase in wealthy Chinese and Russian buyers in Fulham, seeing it as an alternative to Kensington and Chelsea – they realise that the amenities and transport links are equally as good, so deem it a better investment. These buyers tend to be looking for flats with two- three bedrooms at a price bracket of between £500,000-700,000. This will get them a flat of approx 850 sq ft, which would cost anything from £1.5-£3.5m in Prime Central London.”
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