Looking at the trend of economy of UK, most of you will be amazed to know that the expensive properties are still in strong demand for sale. It is because the wealthy buyers of the country are very particular about choosing their property location, according to the property experts.
Nick Pejacsevich saw that the property buyers in the top end of the market “are clearly not purchasing just anything that comes their way but insisted on a specific market.
He also explained, “the trend seems the same from the last year or so – there has been very less on the market, but the demand has been able to keep the prices of the property intact in the very good areas of London or even on the rise”.
Mr Pejacsevich’s stated after following research conducted by Investec that the competition for houses costing over £1 million has dropped from an average of 8 buyers in 2009 to 5 in 2011.
The report also stated that the houses costing more than £1 million usually take between 1-2 months to sell, which might be great news for potential sellers with high London house rates.
