Sellers of £2million plus property return to the market with a vengeance

PUBLISHED: 19:00 19 June 2015 | UPDATED: 19:00 19 June 2015

£2million plus instructions have nearly doubled

£2million plus instructions have nearly doubled

PA Archive/Press Association Images

The number of £2million plus properties coming to market nearly doubled this month as owners re-gained confidence following the election result according to the latest Rightmove House Price Index.

The report found an 86 per cent jump in new listings for higher priced properties.

Asking prices in Camden also jumped 7.9 per cent between May and June, hitting an average of £1,191,409 this month.

Jason Thrasivoulou, senior sales consultant at Liv International, said: “I’ve taken on so much since the election. I’ve put on six or seven properties today alone.

“Before the election things were horrible. I lost a couple of sales over the £2million mark.

“Buyers are happier now with the turn out of the elections. Sellers are also putting their properties on the market; people are able to be more confident with a higher figure now the threat of mansion tax has been removed.”

Despite the jump in £2million plus instructions, overall the number of new properties coming to market was down 8.5 per cent on the same period last year.

The website also reported its busiest ever May, recording 115million visits.

Miles Shipside, Rightmove director and housing market analyst said: “The aftermath of the previous general election in May 2010 saw a 17 per cent surge in fresh stock, and a similar increase would have been a welcome – albeit temporary – relief for the under-supplied housing market, as well as for choice-starved buyers.

“Instead supply has tightened further, underlining the effects of the historic lack of new build.

“The mass-market needs more choice in the right locations at more affordable prices.”

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