by Patrick Tonkin

city skyline view

Patrick TonkinAssociate Director - Estate Agency

The summer market is heating up and buyers have been flying out of the woodwork since May. This entwined with the average price of a London property increasing 9.2% last year to £481,820 (as reported by the Land Registry) has caused a huge imbalance with supply and demand. The simple truth is that the demand is outweighing supply.

Foxtons recently announced in their half year market review, “The fundamentals of the London market remain attractive mainly due to the lack of supply of properties and ever increasing demand. Based on the latest London census figures, there was a cumulative population increase of circa 900,000 from 2005 to 2013 with only circa 175,000 new homes built. There are simply not enough properties to accommodate the increasing population in London."

A simple statistic which speaks volumes for the residential market across London. Further to my previous post regarding the London Housing market, Foxtons have reported that sales volumes in Zones 1 & 2 have declined. However in Zone 3 sales have jumped by 9% in areas such as Walthamstow, incidentally this is the latest area to receive the Foxtons treatment.

Many candidates that I have been dealing with have seemingly been frustrated with the lack of stock their current firm has to offer the market. This isn’t something that the vast majority of my clients are experiencing. It seems our clients are leading the pack in Residential Agency across London this summer….

Some of our exclusive assignments include:

Managerial roles:

  • Sales Manager, SW London - £80,000+ OTE.
  • Sales Manager, Marylebone & Mayfair (W1) - £75,000 OTE.
  • Sales Manager, Greenwich (SE10) - £65,000 OTE.
  • Sales Manager, Battersea (SW11) - £60,000 OTE.

Negotiator roles:

  • Senior Sales Negotiator, Kensington (W8) £80-90,000 OTE.
  • Senior Sales Negotiator, Clerkenwell (EC1) - £60,000.
  • Senior Sales Negotiator, Paddington (W2) - £55,000 OTE.
  • Sales Negotiator, Canary Wharf (E14) - £50,000 OTE.

If you would like to have an in-depth conversation regarding the possibility of improving your career path and what you’re earning financially, please do call the experts on 02077175509.