Despite the challenging market conditions, the flats department of Preston Bennett Estate Agents is achieving property sales in just 14 days on the majority of its flats, from coming onto the market to under offer. The Stanmore-based agency, whose portfolio covers Middlesex, Hertfordshire and North London, is experiencing high demand for flats in the region particularly from investors, downsizers and cash buyers.

According to Emma Berg, flats manager at Preston Bennett: “We are seeing increasing demand for flats in our area. The number of flats we sold more than doubled in June compared to the previous month. Those coming onto the market are being snapped up, particularly by investors, downsizers and cash buyers. We are seeing a rise in enquiries from first-timers as well, which is encouraging. Those buying for the first-time tend to be purchasing with a friend, relative or partner rather than on their own.

“There has been a significant rise in the numbers of people registering with us who are looking for flats, especially two-bedroom maisonettes. Indeed, the demand for this type of property is currently outweighing supply,” explains Emma.

The increase in potential buyers and the lack of stock on agents’ books is a picture being born out nationally. National Association of Estate Agents’ (NAEA) survey of their members in May confirms demand is outstripping supply across the UK with agents registering an average of four househunters to every available property.

Preston Bennett’s flats department has an enviable reputation and portfolio of properties including first-time-buyers properties, purpose-built blocks, conversions, duplex apartments, penthouses and luxury apartments.

For further information on Preston Bennett, its portfolio of flats or for a valuation, please call 020 8954 0044 or visit www.prestonbennett.co.uk