The real estate market of London – a bidding war

Buyers who want to buy luxury properties in London, in the absence of a sufficient number of residential real estate Luxury are at war rates. Fierce competition in the London real estate market has led to the fact that the market there is an acute shortage of proposals for sale.

At the time, as buyers are fighting for limited offerings all over London, the increasing popularity of sealed bids, especially for one-bedroom apartments in the popular districts of Clapham and Islington.

Many of the proposals are not even exposed to a big market, but limited to a closed auction, where it eventually sold to the seller, who offered the highest price.

For example, the sentence “the one – bedroom apartment worth £500000” can be about 30 – 40 views and about 10 closed applications for competitive bidding.

Illustrative example-sale of a family home of three bedrooms in Clapham, South-West London, close to good schools, the original asking price which was £1 million the building has significant redevelopment, improved loft and extended living space. In the end, short term 68 hits, and the result – set closed auction-sealed bids, which were received 20 applications. The potential of the home has increased so much that the house was sold significantly above the initial asking price.

This way of selling allows each customer to Express their vision of the market and show how much they value a particular property. The situation on the real estate market of England clearly demonstrates that domestic and foreign buyers are not afraid of high prices, which speaks of encouraging the recovery of the market, which was slightly affected by the global economic crisis.

Property buyers of London more expensive than 2 million roubles, and whose attention had previously been focused on the areas of Islington, Newington and Hoxton, to show the diversity of taste, not limiting your search in one area of London. The views of these buyers, now rushed to the North, up the bed of the Thames and to the South and in the center of the island. Increasingly, such buyers will flock away from London, where real estate is 30% cheaper.

® Alice Morgan G. 08.07.2013