A look at the market in London's Marylebone

This months, ‘A look at the market in…’ has taken us to London to look at how the market is fairing for our inner city branch of Marylebone.

Hunters Marylebone’s franchise partner, Matthew Fine comments:

“October has come and gone and autumn is now setting in. We had a record month for lettings and agreed a number of sales that should hopefully complete before the Christmas break.

Pricing has been key to agreeing sales this month. Clients with high expectations are still waiting to get their magical price and are noticing fewer viewings and even fewer offers as buyers have become more knowledgeable about market conditions, and are not biting at the higher valued properties.

A number of house price predictors have noticed a slight softening to the market and we are noticing our competitors reducing asking prices regularly; if only the sellers had not been deceived by their agents in pricing then they would have been under offer by now!

There are still many buyers around; a lot are looking for 2 and 3 bedroom apartments with Marylebone and Fitzrovia being the popular areas at the moment. The areas around the new Fitzroy Square development are buzzing during the day and have a great social scene in the evenings with plenty of restaurants and bars. We have just agreed a sale of a three bedroom apartment in Fitzrovia, the buyers were so keen they put down a &10,000 deposit and want to exchange in two weeks!

The rental market has softened from its summer high but there are still plenty of corporate tenants about looking for that special 1 or 2 bedroom apartment. If you are thinking of letting now would be a good time to discuss it with our dedicated lettings team.”

To contact our Hunters Marylebone office click here, and find out why 94% of our customer recommend us.

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