“There are signs that these price reductions in parts of London have led to an upturn in buyer activity as sentiment improves.”
House prices saw a monthly rise of 0.7% in September, matching the average increase seen over the month since 2011, according to the latest Rightmove data.
Additionally, substantial price reductions in some parts of the London market over the last two years are now helping to improve sentiment and momentum, with renewed buyer activity evident at the upper end.
The London market has seen a 6% rise in number of sales agreed for homes of £750,000 and over compared to same month last year.
Additionally, ‘back to school’ season is offering more choice for buyers, with a 16% jump in new properties coming to market in the first week of September compared to the average of the final three summer weeks.