South West London expected to spearhead recovery in the capital’s prime market

Prime Index September 2009 Overview

“Heightened demand in traditionally popular South West London is set to spearhead a recovery in the capital’s Prime property market, as the increasing prices encourage more vendors who may have been delaying a sale to put their properties onto the market and the outward ripple effect begins to take hold.

“Consumer confidence is gradually returning and we expect activity to continue to grow, underpinning stability throughout the Prime London market.”

Andrew Smith, Head of Research

• The average asking price of a Prime London property increased for the tenth successive month in August

• Prime London sales stock levels fell by 1.54%

• Prime Country property continued its downward trend, falling by 0.42% on July

• Average asking Prime London weekly rentals increased by 0.61% on the previous month

• Supply of Prime London lettings stock decreased for the first time since March 2008

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