The pent up demand that has been defining the sales property market in SW18 and it's surrounds, since it reopened at the end of May, continues to make its presence felt. The majority of pressure is coming from professional couples who have not been financially affected by the economic slowdown and put a high value on owning property, both in terms of lifestyle and as an investment prospect. Their behaviour on price is notably aggressive with competing offers often pushing prices up over asking. Building surveyors carrying out mortgage valuations, who were initially resistant to the increase in value have now incorporated the new price levels into their assessments and we are close to establishing a new peak in SW18 property values, which is remarkable in the current context but corresponds with the ongoing gentrification in the area. This once looked over part of London has become increasingly desirable and demand is not showing any sign of slowing down. Looking forward, we can only speculate that the stamp duty drop will be another driver and we expect to see increased activity.
