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Strong start to 2011 for UK property market

Wednesday, 26 January 2011 3:25 PM

New research suggests an optimistic outlook for UK property buyers and sellers, with the higher value rungs of the property ladder showing no signs of slowing down soon.

Results from across the Hamptons International network in the first two weeks of January 2011 have seen both applicant numbers and new property instructions increase dramatically compared with the same time last year.

The estate agent noted a 25 per cent rise in the number of applicant registrations during a promising two-week period, while new instructions were up 20 per cent in comparison with January 2010.

Marc Goldberg, head of sales at Hamptons International, said: "With both applicant numbers and new instructions showing a significant increase on January 2010, we're expecting a busy few months ahead.

"In terms of demand, we are currently seeing a marked difference between the mainstream housing market and sectors where loans are more readily available to buyers.

"However, properties in London and the South-East continue to show greater resilience in terms of value and volume of sales," he added.

The group's clients were found to be weathering the recent slowdown, apparently more resilient to the mortgage restraints affecting much of the market, with a typical buyer requiring loan-to-value finance of around 50 per cent.

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