As prices were forecast to fall between 4% and 15% across the nation, hope is kindled in West London where the activity is on the rise. One estate agent specialised in prime west London property managed to finalise seven exchanges since the lockdown period, worth a total of £7.4 million.
This glimmer of optimism shows that the west London market is back up and running, with lockdown restrictions beginning to relax and carefully allowing viewings once again. Especially the Prime Minister’s speech on the first May bank holiday spurred on the market, creating a flurry of activity.
Especially homes with large gardens and some privacy are popular, keeping their prices steady when all other properties seem to be losing value fast. Outdoor space is the highest priority for buyers right now, as many have come to realise its value while locked up indoors during the lockdown.
The properties being sold are spread across a wide range of budgets, from average to exceptional. This positive indicator reveals that a wide range of buyers are active on the market, and any type of property can be bought or sold, if the right deal is struck.