September has been Napier Watts single best month ever, with record levels of sales transactions as vendors become realistic and buyer confidence begins to return.
While values have remained broadly stable this summer, Prime Central London values have bucked the wider trend by recording annual growth of 2.3% bouncing back from the summer lull. The £5m plus market has been stronger this year. However, we are still experiencing a stock shortage and increasingly offering offmarket deals to vendors and buyers for exclusive properties. Cash buyers are still a strong element of the market.
The recent Bank of England decision to keep the bank base rate at 5.25% is excellent news for market confident and suggests we will finally see a stabilisation of interest rates. Inflation also fell in September down to 6.7% which is further good news.
