X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-The best residential property in central London is taking longer to sellaccording to a report released today. Mayfair agency Lane Fox has reported astartling number of viewings are required before many properties find abuyer.

Lulu Egerton, director of Lane Fox’s London division, says, ‘Buyerscertainly have the money at the moment but they are most certainly shoppingaround.’ The brisk business reported for the first three months of the yearhas not spilled over into the second quarter and Lane Fox’s report pointsout some remarkable statistics: a third and fourth floor maisonette inCheyne Place with a roof terrace overlooking Chelsea Physic Garden, had 102viewings before achieving the asking price of £1.175 million ($1,65 million). A three bedroom housein Bywater Street is still on the market at £1.05 million ($1.48 million) after 96 viewings while asix bedroom family house in Neville Street, SW7, has just been placed underoffer at £3.25 million ($4.94 million) after 59 viewings.

‘There are some excellent houses and flats on the market,’ says Egerton,’but this high level of choice combined with indecision based on anxietyabout the state of the stock market, forthcoming bonuses and job securityhas certainly slowed down the rate of sales.’

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.