The sheer volume of these desperate, new buyers has gone a long way to heighten the feeling of a nationwide stock shortage. Sensibly priced properties are now selling within days, in some cases even hours, rather than the weeks and months many homeowners have to wait for if they want considerably more than the asking price.
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Figures from Hamptons International show that the Thames region alone has experienced a 90 per cent increase in offers and 35 per cent more viewings, vastly exceeding the forecasts based on last years performance.
Marc Goldberg, regional sales director for London at Hamptons International says buying behaviour has become more aggressive: There has been an acute shortage of properties for sale in prime areas of the Capital for several months our stock of available property is 33 per cent lower than last year, whilst demand is 22 per cent higher.
In the West of the country however, there is welcome relief from frantic buyers as the region is currently seeing a better balance between the existing stock and the current level of demand.
Ursula Sadler, regional sales director for the West at Hamptons international adds: Properties in the West Country continue to provide good value for money and there is an expectation that with an exceptionally strong London market showing no signs of abating, many purchasers will be forced to find a home further afield, seeking out areas that offer excellent road and rail communications.
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