London, United Kingdom, (3rd February, 2012) – Latest research from Winkworth, one of the leading estate agents specialising in properties located in London , has shown that the central London property market is off to a positive start in 2012, and it is a trend Winkworth expects to continue into the first few months of the year.
The number of applicants currently searching for a new property has increased, as a New Year means a new start for many. In Knightsbridge alone there has been a 15% increase in applicants since December 2011.
Additionally, the level of foreign buyers shows no sign of slowing down. In Knightsbridge only 10% of buyers are British; with the majority of buyers from Europe (50%) and almost a quarter from the Arab nations (20%) and the Far East (20%).
In Notting Hill, 30% of applicants and buyers are from Europe (15% Italian, 10% Greek and 5% French). Winkworth West End reports 16% of buyers are European, with 15% of buyers from the Far East (Singapore, Hong Kong and Malaysia with 5% market share each).
In terms of buyer type, Knightsbridge continues to receive business from the sophisticated overseas buyer. In Notting Hill, 40% of buyers are first time buyers, 25% are young professionals, and 25% are families; whilst in the West End, 10% are first time buyers, 40% are young professionals, 5% are families.
“It is an encouraging sign to see so many new buyers and applicants seeking property in central London, alongside the numerous foreign investors,” commented Dominic Agace for Winkworth. “Central London remains one of the most sensible locations in which to buy property, thanks to the stable property market in this area, the excellent transport links, schools and retail facilities.”
For more information on Winkworth’s services, please visit http://www.winkworth.co.uk or call 0207 355 0211.
Winkworth is a leading franchisor of residential real estate agencies and is admitted to trading on the AIM Market of 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. Winkworth has in excess of 90 offices, with 58 in London alone. 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: www.winkworthplc.com or www.winkworth.co.uk
PR and Media Relations
London, United Kingdom
Tel: 020 7355 0220