Agents hoping for a post-General Election ‘Boris bounce’ should be reassured by the latest results from central London estate agency Chestertons, which has reported an ‘unprecedented’ surge in activity following the New Year.
The 39-branch estate agency said that sales enquiries have surged by 76% since the New Year and new buyer registrations are up by 15%. Chestertons added that new instructions are also up by 20% and offers received are up by 44%.
The company’s CEO Guy Gittins claims this sharp increase in buyer and seller activity is due to pent-up demand being released. “We’re hopeful that this will result in more properties coming on to the market over the coming months, as the London market is dramatically under-supplied,” he said.
Gittens added: “As agents, we’re in a privileged position as we get to see data that is not readily available to the general public and allows us to get an early indication on what is happening in the market right now.”