Quick facts from Hamptons International

Whilst Hamptons are known for operating very much at the top end of the property market, it is always worth taking on board their take on the market, so here are some quickfire snippets from their latest publication on the state of the property market.

• Sales slightly up, by about 5% but transactions are taking about 30% longer to reach completion
• Hamptons say they  have seen an increase in the number of potential buyers of each property, from 7 to 8, over the last 3 months.

Our own view is that the market is going to remain tough and inertia will be the theme of 2012 until it becomes much clearer what is going to happen with the Eurozone and UK economy. Based on surveys we have read, house price affordability, particularly in London, remains a big problem, exacerbated by the fact the lender multiples, which were frankly insane during the boom, are now much lower than before.

What’s your view on the property market for 2012 ?