Kinleigh Folkard & Hayward, one of London’s largest independent estate agents, has sold 98% of all instructions on the market in South West London during the first three months of the year.
Lisa Mackenzie, Regional Sales Director for the South West London region, comments: “Throughout the first quarter of 2013, we saw unprecedented numbers of buyers across South West London. Consequently, following the continued shortage of properties for sale, supply has not kept up with demand and we are selling virtually every property on our database within days. Although stock is low and selling quickly, it is being replenished on a daily basis however there is huge competition on what properties there are available.
“A notable number of the properties sold achieved in excess of asking price as a result of open days leading to many sealed bids. Because of this, we’ve seen upward pressure on pricing across the South West region.
“The next few weeks look set to be equally busy with signs already indicating that more sellers are looking to sell to take advantage of the Spring market.”