Home / Business and Economy / Sellers Reject Poor Summer, Hike London Prices
Sellers Reject Poor Summer, Hike London Prices
19 Oct
Summary
- London home sellers increased asking prices for two consecutive months.
- Asking prices for newly listed London properties rose 2.5% in October.
- September saw an 1.8% increase in average asking prices.
London home sellers have initiated a price increase for the second month running, signaling a change in attitude after a less-than-ideal summer for the city's property market. The average asking price for a newly listed home in London saw a significant rise of 2.5% during October.
This upward trend follows a modest increase of 1.8% observed in September. The consecutive monthly gains suggest that sellers are becoming more assertive, driven by a desire to counteract the market's earlier performance. The market's activity in the preceding months was described as poor, prompting this renewed seller confidence.
This shift in seller behavior, characterized by an "enough is enough" sentiment, is directly influencing the asking prices for properties across London. The data reflects a potential turning point after a period of stagnation, with both October and September showing positive price movement.
