London’s property market has enjoyed its strongest ever half-year, according to Chestertons, who posted record sales in June.
The estate agent’s latest market analysis found the highest monthly sales numbers in the company’s history were recorded last month, fuelled by buyers trying to beat the Stamp Duty deadline and wanting to move before price growth climbs higher.
In comparison to May, Chestertons’ sales nearly tripled. While the agency saw an 82 per cent surge in exchanges, compared to this year’s former-record month of March.
“Chestertons achieved a record monthly revenue in June and although the number of buyer inquiries remains at greatest levels annually and the volume of viewings is at a 5-year high, we are now entering a more balanced market,” CEO Guy Gittins said.
In the first six months of this year, the estate agency saw transaction volumes grow 142 per cent and accepted offers swelling by 41 per cent.
The market is also set to reap the rewards of workers returning to the capital after a pandemic-induced exodus.
“Although the end of the first taper of the SDLT holiday has passed, the market is still fuelled by house hunters keen to find a new home as well as city workers who are returning in anticipation of offices reopening,” head of sales at Chestertons, Cory Askew, said.