“During August we took on 20% more instructions than the same time last year, yet stock levels are 15% lower than they were a year ago.
“The number of new applicants registering is down on July’s figures which is expected for August but the total number of applicants remains high. This further supports the trend identified last month that increasing number of applicants are registering with multiple offices and widening their search across several areas of London as a consequence of diminishing stock levels.
“With revenue up 38% on this time last year and no reported fall-throughs on properties across any of our offices, it appears the riots have not had an effect on the resilient London property market.”
Virginia Skilbeck, Lettings Director says:
“There is a glimmer of hope for hard pressed tenants in London as although the number of applicants has increased in August, supply levels are increasing and we are expecting to see rental prices stabilising.
“Moving into the autumn market, we are seeing more buy-to-let landlords. Existing landlords are holding onto their investments and opting to re-finance as demand for rental properties continues to increase, there are no void periods and good capital growth is predicted.
“With the stock market continuing to be volatile, investors are continuing to see the London property market as a stable and safe place to invest in.”
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