114% rise in redemptions at Dragonfly Property Finance‏

By Bridging Loan Directory -

 

London, 18 July 2012 — London-based short and medium-term lender, Dragonfly Property Finance, today published key figures for the first half of 2012.

  •  In H1 2012, the number of redemptions was 48% higher than in the first half of 2011
  •  The value of redemptions in H1 2012 was up 114% on H1 2011
  •  The number of completions during H1 2012 was 35% higher than in H1 2011
  •  The value of completions during H1 2012 was up 37% on H1 2011
  •  Dragonfly made 702 Agreements in Principle (AIPs) during the first six months of 2012, compared to 664 in the same period last year, an increase of 6%
  •  The total value of AIPs during H1 2012 was £463.5m, compared to £388m in the first half of 2011 — a rise of 19%

Jonathan Samuels, CEO, Dragonfly Property Finance, commented:

“The short-term finance sector continued to go through the gears during the first six months of 2012. AIPs and completions were both up while redemption values were considerably higher, which reinforces the strength of the borrowers currently active in the market. The key to the market’s growth over the past two years has been opportunity and liquidity. Professional property investors see a major opportunity in the property market currently and are able to monetise that opportunity thanks to the liquidity afforded by short-term lenders. We expect the market to continue to grow throughout the second half of the year.”