25 April 2013
EA Shaw have released their latest spring edition of 'Our patch, our view' providing an in depth analysis of the sales and lettings markets in EA Shaw’s niche patch.
2013 has got off to a flying start, with the residential sales team experiencing one of their busiest quarters in terms of sales achieved. Similarly, the lettings team have seen a promising start to the year with average weekly rents increasing once again.
The predominance of British purchasers was still a key feature this quarter, especially at the top end of the sales market, where domestic buyers accounted for two thirds of sales over £2,000,000. This dominance looks set to continue throughout the year with 75% of properties over £2,000,000 currently under offer to buyers from the United Kingdom. With a number of high profile new development launches happening in the next three months, we will also no doubt see a return of overseas purchasers seeking good value investment properties.
Our lettings team have been extremely busy providing advice on a selection of both niche and large scale residential schemes which are due to come to the market between Quarter 3 2013 and Quarter 2 2015. This steady supply of new build and refurbished rental apartments will help to satisfy tenant demand in the long term.