Eurozone crisis prompts flurry of activity in housing market

Eurozone crisis prompts flurry of activity in housing market

Investors looking to reduce the impact of the Eurozone crisis on their finances have boosted buyer figures in the housing market during the last few weeks, according to Marsh & Parsons, a London based estate agency.
The increased demand of investors who are looking to purchase quickly has increased ‘under offer’ properties, despite the usual seasonal slowdown.  During November, Marsh & Parsons report the number of properties ‘under offer’ as 177, a 21 per cent increase on November 2010’s figures.
Marsh & Parsons insist that this is not just an annual increase as the figures for November show a 9 per cent increase on October’s figures.
CEO of Marsh & Parsons, Peter Rollings, commented:
“Buyer demand tends to slow in the run-up to Christmas, but a corps of committed, less speculative buyers has hit the market recently. While general buyer demand has been more muted in autumn, those looking to buy are moving quickly, and this has triggered an increase in the number of offers being made. However, this is not simply down to families looking to move before the New Year. We are seeing a flight to high quality real assets from both international and UK buyers. As investors increasingly see their assets exposed to the meltdown in the Eurozone, a growing number are heading for the financial security and strong yields provided by property in the capital – with a new urgency. ”
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