News / Market Comments | 2 Mins Read

Spring Sales Market 2024

Name: Spring Sales Market 2024
Brand: Plaza Estates
Rating: 5 (62 reviews)

By Eitan Fox | Created on 26th March 2024

As we come to an end to the first quarter of 2024 and into Spring, how has the prime central London market faired?

At the beginning of the year there was great optimism that the market would kick start and that more positive financial data and political pressure to reduce taxes and interest rates would provide some necessary momentum.

Well, to a certain extent that has been the case but arguably not enough has been done to make a significant difference.

We have definitely experienced more new applicants register for property and there is a greater appetite for business.

The first few months we received a 40% increase in offers being made by buyers but often the offers on the table did not match the vendors expectations, resulting in a stalemate. However, over the last couple of weeks we have seen a number of vendors finally reducing their properties to a sensible and attractive level.

This has already reaped rewards for a number of our clients, who find their properties now under offer.

The clear message to vendors is if you get the asking price wrong, the amount of time your property will spend on the market increases dramatically.

We are also experiencing boomerang applicants who did not purchase in 2023 as they felt the market was not at a level they were willing to trade in. These applicants have returned with a more optimistic outlook and no doubt these applicants will look more seriously at investing.

The next 3 months will be pivotal to setting the tone for the future market. We remain cautiously optimistic but feel vendors must do more to attract buyers, because they are out there.

For all your property needs you can contact us in strictest confidence and we will endeavour to assist.

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Eitan Fox

I started at Plaza Estates in 1986. Eleven years were spent successfully running the Marble Arch office. Subsequently, I was asked to take on the exciting challenge of running the Sales Department in our Knightsbridge office. I have built an experienced team with the ethos that local knowledge, hard work and professional service will always provide success to our clients. With ever changing technology of which Plaza Estates are at the cutting edge of, I have often been asked, with over 30 years in the business, how I retain my enthusiasm? I am delighted to say many of our multi million pound clients are genuinely my friends and I have a great passion for people. My staff and I never forget that this challenging industry ultimately is a 'Peoples Business'. Therefore I would welcome the opportunity to help you with your property needs and hope you will allow our fully equipped and motivated team to provide you with their professional assistance.

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Dear Eitan In this whole sorry saga, with headbutting, unproactive lawyers, and a comatose estate agent etc etc, you have been a beacon of light throughout. Efficient, professional and responsive. This would never have got done without you. Thank you. All the best.

Maurice Shasha

We have been using Plaza Estates for many years for all our property requirements (sales, letting and management) and are delighted with the results and service they constantly deliver and provide!

I generally dealt with the Marble Arch branch most of the time, but I can also say that the Knightsbridge office was also exceptionally helpful and professional on the occasions I did deal with them. Plaza Estates in general are excellent.

Have interacted with Plaza Estates across a couple of sites and always been impressed. Maurice must be the hardest working, most dedicated, helpful and knowledgeable account manager for any company anywhere! A real asset to the team!

I have been a client of Plaza Estates for over 30 years and received excellent service. Both Rodney on the rental side and Fiona in the property management area have been have been attentive and helpful and always willing to go the extra mile on the few occasions when there were problems.

Hope both of you are doing well. I wanted to thank you for always being there for us and for addressing our concerns promptly; safe to say you have been the best agents I have had the pleasure of interacting with.

We have owned our Flat since 2008, which we purchased through Plaza. Our relationship with Plaza goes back to 1982 when we purchased a nearby flat and Plaza have handled all our lettings since then. I would have no hesitation in recommending Plaza - they will find you a good tenant and ensure your ...

Thank you again for all your advice and calm attitude and charm. Nobody could try harder than you, and for which, we really thank you and appreciate it all, not just now, but over the years. Thanks again for everything!

Spring Sales Market 2024

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