No quite true, but borderline. As of today we have sold out, for the first time in our 19 year history, of every property for sale under £1million. Crazy times people, crazy times.
Now, it would be marvellous – although a little cheeky – to claim full credit for this, but we can’t. Our roguish powers of persuasion and innately envious abilities in marketing London’s most interesting and unique places to live are, of course, wonderful things to behold. But, and alas, our suave and swagger are only part of the story. What’s really going on is that hardly anyone is moving home. Staying put, it seems, is the new moving on and the main reason for this is that they cannot find anything they want to buy themselves.
Conversely, typically and not just a little irksomely, the demand for cool spaces between, say, £450,000 and £1m is on an all-time high. Prices, in some pockets of London, are showing total disregard for the current financial climate; 18 of our last 20 sales went to sealed bids; unconventional living spaces are becoming more and more popular as they are demonstrated to be far more suited to modern life than tiny terraced houses and 1980s shoeboxes. With all these factors coming together at once, the chasm between demand and supply is making the Grand Canyon look manageably dinky.
So how can we encourage owners of warehouse apartments, penthouse lofts, artists’ studios and live-work spaces to sell up, ship out and generally get a move on? Why, with offers of great riches of course! Yes siree: if you want to achieve an unbelievable price then now is most certainly the time. Demand has never been higher, supply has never been lower, and frustration has never been so universally present across all price ranges in our marketplace.
If you’ve got an interesting property to sell, your moment is now. Strike, while the iron is hot. You might be surprised as to the current value.