The latest figures from Hamptons International revealed that property viewings across the UK rose sharply in the last few weeks, with a +50% increase when comparing this year to the previous year.

The findings showed how many potential buyers are being enticed back into the sales market thanks to falling house prices and strong investment opportunities. In London, prime areas such as Knightsbridge and Belgravia/Pimlico witnessed a rise in viewings of +77% and +78% respectively. This increase can certainly be understood when comparing current property prices in these prestigious areas; a London property requiring the equivalent of £1m in capital in Dec 2007 could be acquired for approximately £750,000 in December 2008.

Across the rest of the country, the upswing in activity was also apparent, particularly in the commuter belt counties of Berkshire, Buckinghamshire and Hertfordshire.

This is certainly echoed with buyer registration figures too, with Hamptons’ data revealing that the number of buyers registering in January has jumped to the highest level for nine months. Even first-time buyers are cautiously approaching the market, tempted by historically low interest rates and attractive prices.

Marc Goldberg, head of residential sales at Hamptons International, said, “The increase in new buyers registering and the uplift in property viewings provides clear evidence of the pent-up demand across the country. With lower property prices, a cheaper cost of borrowing and greater price realism, many buyers who held-off moving or remained in rental property during 2008 have decided to take advantage of the current property market and opportunities available.”

“The increase in overseas buyers has also added to the uplift in viewings. The relative weakness of the pound in combination with recent price drops has created an extremely favourable climate for foreign investors in the UK.”