More Properties For Sale in South Kensington

Chard South Kensington estate agents are seeing more properties for sale in South Kensington and Chelsea.

Grant O'Donaghue, manager of South Kensington and Chelsea property sales has seen a doubling in the number of valuations for properties to sell in the South Kensington area in the last three weeks. It appears that London is moving again. The feared "double dip" house price crash hasn't happened in London - in fact the reverse is true - prices have increased as much as 10-15% since early 2009.

Confidence has returned to the market as prices have risen. Yet it's worth sowing a note of caution. Prices have been maintained in part due to a famine of properties for sale in the London market. More properties for sale hitting the market may dampen this, although the evidence on the ground is so far reassuring. The increase in instructions is mostly attributable to owner occupiers trading up or, less often, down - rather than an exodus of property owners from the market altogether. Property is also being snapped up as fast as it comes on to the market, with same day offers in some cases. In short there's both more buyers and more sellers.

Finance where available still looks cheap and rising rents, as reported elsewhere, are making home ownership more attractive than a year ago. London also has the advantage of overseas buyers and a buoyant buy to let market underpinned by its position as a world financial hub, to lend a reassuring cushion to the market - despite the otherwise very disturbing wider economic outlook in the UK.

From a London estate agents perspective there should be greater turnover of properties being sold in the near future and improved confidence in London property investment generally.