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LONDON BAROMETER
DIRECTOR OF DOUGLAS & GORDON
“The London property market continues to be hindered by the lack of finance available to buyers, which has increased the period it takes for a property to exchange to at least nine weeks.
“Supply appears perhaps lower than it is because many good properties are put under offer immediately but then take months to exchange because of these insufferable mortgage delays.
“With interest only mortgages becoming a thing of the past, many first-time buyers are simply unable to afford the high deposits being demanded at present and that shows little sign of changing.”