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Not enough properties to fulfil demand in London and surrounds, estate agent finds

Monday, February 27, 2012

An increase in property buyers in London and surrounding counties and lack of supply means that they can't find the home they want, according to agents.

The start of 2012 has seen demand in the residential sales market rocket with Townends estate agents, who operate across London, Surrey, Middlesex and North Hampshire, reporting a 51% rise in applicant numbers in the first month of trading versus the same period last year.

The demand is expected to continue in a similar vein throughout February. However, despite pent up demand, some buyers, particularly those looking to upsize into a family home, are struggling to find what they are looking for.

According to Townends estate agents, year on year viewing figures are up 44% but Douglas Sleaper, group sales director, said that a comparable number of new instructions coming to the market is needed to support this demand and create an active market.

Source: PropertyWire.com

 

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