It’s a very happy New Year for vendors, says Hamptons International, as the company reports that the supply/demand ratio shifts further into the sellers’ favour.

A surge of new stock is materialising, say the company, but at a current stock shortage 15% lower quarter on quarter, this may not be enough to satisfy demand.

The shortage has already pushed up prices in January and London is blazing, with viewings up 51%, 50% more buyers, 20% more new instructions, offers up 46%, sales agreed up 98% and exchanges up 92%.

City properties are being snapped up by overseas buyers, report some of Hamptons central London branches.

Mark Anderson, Hamptons chief operating officer said, “It bodes well for the market to see buyers back in such force. The current shortage of stock is very good news for sellers, but we urge them to make hay while the sun shines as we expect the balance to be restored in the market with the traditional Spring influx of properties for sale.”

London sales director Marc Goldberg said, “We are expecting prices to rise by around 5% in the early part of this year. In fact in many cases this uplift has already taken place.”

Moving out of town

“There is a steady influx of people into the country, especially from London,” said Andrew Everill from the Windsor office. “This is fuelled in part by the quest for a better quality of life, coupled with both excellent schooling and convenient transport.”