The Daily Telegraph’s Arabell Youens (NB access to Telegraph is paywall) looks at the private market, where PCL properties are ‘snapped up long before they reach a property portal’. She spoke to Middleton’s Mark Parkinson who commented: “At the top end of the market, what rules are people, knowledge and relationships”.
The Telegraph concludes that, ‘the traditional estate agency model is being disrupted’, and that today, no buyer or vendor puts a foot forward without first having conducted their own research online. At the top end of the market in prime central London (PCL) clients are turning their backs on traditional routes, with many ‘choosing to transact in the private market’. Mark Parkinson comments that the rise in private brokers is partly a result of transaction volumes, which are about 50 per cent down since 2008.