London’s prime property market is starting to see some signs of recovery, with homebuyer interest remaining relatively strong and set to improve in the coming months, according to one industry expert.
Nigel Ellis, senior partner at estate agent Prickett and Ellis, said that "more people" are showing an interest in the higher end of the housing market in the capital ahead of the spring-summer season.
"We are getting many more offers and many more deals being agreed than we did three months ago - probably three times as many," the expert revealed.
He suggested that buyers were hoping the market would flood with homeowners eager to sell, but as this has not occurred in London some agents are struggling to meet demand.
Mr Ellis added that investors are also being attracted by London’s rental market, which remains upbeat as potential first-time buyers put off purchasing a property for the time being.
Recent research from The Young Index showed that 40 per cent of buy-to-let investors were looking to buy more properties in London during the first quarter of 2009 – up 7 per cent on the final three months of 2008.
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