August riots: no effect on London property market

“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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5 thoughts on “August riots: no effect on London property market

  1. Nick

    Am I right in thinking that D&G’s business focuses on the West London Market? Were the riots not in north, south and east London?
    Surely D&G’s market place would have been largely unaffected by Augusts events? Lazy and inaccurate research if you ask me!

  2. LO Acki

    D&Gs meta tags:
    clapham,putney,balham,notting hill,chelsea,hammersmith, pimlico, kensington, fulham, battersea

    I’m afraid there is a little more to London then those areas!

  3. Accurate research

    “Lazy and innacurate research if you ask me”

    One of D & G’s offices is on Northcote Rd, Battersea – about 50 yards from where I live and very much in the thick of the riots…

  4. Nick

    ‘One of D & G’s offices is on Northcote Rd, Battersea – about 50 yards from where I live and very much in the thick of the riots…’

    Agreed – but one office does not give them an overview to all of London’s affected areas! Why not ask an agent who has more than one office in the area’s that suffered. That would make sense, would it not? There are PLENTY of them.

    Surely any agent asked woudl put a spin on it anyway? Why would they play down an area they do business in?

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