London prices driven by aspiring professionals

15th August 2014

Gary Gosney, the sales manager at Kremer Signs, Britain's biggest manufacturer of estate agents' advertising boards, says that the number of lower-price homes coming to the London market has increased of late.

He says that estate agents that sell homes worth less than £500,000 in the capital have stepped up their orders of signboards by 25% year-on-year. He told the FT that "Since the start of the year it's really picked up with new agents coming on to the market, existing agents rebranding, and just much more demand for signs in general". Meanwhile, prime London has seen a slowdown with transactions dropping by a quarter, according to WA Ellis. Richard Donnell of Hometrack says the market is now being driven by London's aspiring professions.

Source:  Financial Times (14/08/2014)