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Demand 'still high for family homes'

Thursday, 31 March 2011 3:33 PM

Demand for family homes in the UK is still high, it has been revealed.

According to the latest Winkworth Quarterly Review, property stock levels increased between January and February of this year and strong demand in central London means some properties are selling above asking price.

Furthermore, figures show that demand for rental properties is also on the rise, with average rents outside London now £972 per month.

Dominic Agace, chief executive of Winkworth Plc, commented: "The family house market continues to drive activity. As ever, there is movement out of London as couples with growing families look for more space and open countryside, so long as the capital remains within easy commuting reach for work.

"Our newly created country house department, which caters for this sector of demand, is proving to be an asset to our customers and is experiencing brisk activity."

However, he added that unfortunately many first-time buyers are struggling to get on to the housing ladder as the high deposits required by lenders continues to prevent them from securing mortgages.

It was also revealed in the report that 20 per cent of foreign buyers of prime London property are from the Middle East.

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