TPP419: What's happening to the London property market
The Property Podcast
Rob Bence & Rob Dix
4.8 • 2K Ratings
🗓️ 25 March 2021
⏱️ 23 minutes
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| 0:00.0 | London is calling this week for the Property Podcast. It is a really, really interesting |
| 0:08.4 | market now. Rentals are all over the place. Property prices? Well, we'll discuss those. |
| 0:14.9 | And of course, most importantly, what's going to happen in the future? And I think you'll |
| 0:19.3 | be shocked by our conclusion. |
| 0:27.5 | Welcome to the Property Podcast, where every Thursday property investors come to be informed |
| 0:31.5 | and inspired. London is always a hot topic when it comes to talking about property. It's |
| 0:36.6 | caused a few problems over the years as well. Our predictions regarding London have not |
| 0:40.1 | exactly been spot on. But right now, the property market in London is absolutely fascinating, |
| 0:44.8 | so much to say. So we're going to be getting into all that in this episode. And stick |
| 0:49.2 | around to the end because in hub extra, we've got a free app that's going to get you |
| 0:52.7 | out and about and staying active. |
| 0:55.3 | So this week's new story comes from the mortgage strategy website. And the headline reads |
| 1:00.3 | strongest sellers market for a decade. And this is from right move. So Rob, but strongest |
| 1:06.1 | in a decade, that's worth paying attention to. |
| 1:08.3 | It is. They're measuring this by number of inquiries per property and that it's 34% higher |
| 1:14.5 | than it was for the same time last year. And it's worth remembering that the same time |
| 1:18.5 | last year was particularly busy month as well, because this was last February. So it was |
| 1:23.9 | after some of the Brexit stuff had been sorted out. People were feeling newly confident. |
| 1:28.1 | And it was before COVID hit us. So 34% up on an already busy month is a lot. And now |
| 1:34.1 | according to right move demand is exceeding supply by the greatest margin for 10 years. |
| 1:38.5 | It's just another indicator of how hot the market is right now. The only exception, |
| 1:43.7 | according to this article is London, but we're talking about today. But everywhere else, |
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