London property reports may be showing mixed reviews at the moment, but there are indications that the level of completed house sales stabilised at the end of last year.
According to the latest Royal Institution of Chartered Surveyors' UK Housing Market survey, the number of sales completed by each surveyor stood at an average of 15.2 in the three months to December 2010, compared with 14.8 for the previous quarter.
However, some buyers were affected by the inclement weather towards the end of the year, while the lack of UK mortgage funding options remained a problem for some.
Robert Lazarus, director of residential sales at Paramount, said the outlook was not all bad for the housing market.
"So far this year we've seen that people are able to get mortgages in principle, but there have also been around 30 per cent of our buyers with cash funds purchasing property in the area," he pointed out.
"It is impossible to say what will happen over the next few months with mortgage lending but so far at Paramount we have had a successful January," he added.
London Property Market News
Wednesday, 19 January 2011
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