Big freeze has a frosty effect on London's property market

Big freeze has a frosty effect on London's property market

The Big Freeze has had an unmistakable effect on the countries economy thanks to consumers having no way to get to the shops or work, and simply refusing to venture out of their duvets to face train, bus and tube cancellations.

However it's also having an unexpected impact on the capitals house prices.

The chilly conditions of recent weeks have left people unwilling to brave the cold to view prospective homes. As a result house prices are being cut, beyond the normal seasonal reductions, to temp buyers so sales can be completed before the end of the year.

Those resilient enough to face the arctic winds may find themselves a bargain in the lead-up to Christmas as the severe cold makes others stay at home.

This is great news for buyers desperate to get their feet on the property ladder, and secure a new home for 2011, but not such great news for sellers resorting to desperate measures in the already turbulent housing market.

Industry professionals are used to this annual event, a pre-January sale in the property calender for buyers looking to strike deals, with sellers anxious to move before the madness of the new year.

However, it appears the plummeting temperatures have had an exaggerated effect on the property prices in the capital. Research, based on sales prices over the last two years, shows prices typically dip at this time of year but that the falls are more pronounced and noticeable this season, with fewer viewings taking place being sited as the cause.

If you're considering a move in 2011 trust RIB to attract those crucial buyers and find the right property for you.

RIB is an independent partnership that has been established for over 40 years, enjoying an enviable reputation and providing exceptional specialist knowledge.Established in 1962, they are able to provide a wealth of experience across the full range of property services for our clients.

Visit www.rib.co.uk to begin your smooth and successful relocation to or within London.

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