London (PRWEB) March 25, 2011
Estate agent group Winkworth's latest quarterly review analysing trends and the outlook for the UK residential property sales and lettings markets, shows that although prices for flats softened over the three months period to November 2010, demand for family houses remained high as families with access to affordable mortgages tried to take advantage of better prices and upgrade. As a result Winkworth saw average asking prices of its properties rise from £494,000 to £532,000 nationally and from £518,000 to £551,000 in London, and this was despite an overall fall in demand from buyers (24% year-on-year fall in new buyer registrations) as confidence waned and mortgage accessibility remained tight.
House prices - UK and London
Dominic Agace, CEO of M Winkworth Plc, comments:
"The market for family houses remains extremely buoyant and, with an increasing proportion of such properties on our books, we are pleased to see that our average asking prices rose at a time when the market itself was stagnating. There is still a shortage of stock and with pent up demand growing we would expect this sector to remain active in 2011"
For more information please contact Bola Sodeinde at Winkworth press office on +44 (0) 208 576 5598
Notes to Editors:
Winkworth is a leading franchisor of residential real estate agencies and is listed on the London Stock Exchange. Established in Mayfair in 1835, Winkworth has a pre-eminent position in the mid to upper segments of the central London residential sales and lettings markets. In total, the company operates from over 80 offices in the UK, France and Portugal, having doubled in size in recent years.
The franchise model allows entrepreneurial real estate professionals to provide the highest standards of service under the banner of a well-respected brand name and to benefit from the support and promotion that Winkworth offers. Franchisees deliver in-depth local knowledge and a highly personalised service to their clients. For further information please visit: http://www.winkworthplc.com
Winkworth Quarterly Analysis (Winter 2010/2011)
The Winkworth quarterly review analyses trends and the outlook for the UK residential property sales and lettings markets. The data for the report is gathered from a monthly survey of franchisees and should therefore be considered as indicative rather than factual. Follow this link for a full copy of the report: http://www.winkworth.co.uk/public/static/MarketAnalysis_Winter_2010_11.pdf