Residential property sales market news

Templars Court is a limited collection of eight four-bedroom homes located in Temple Fortune, in North London. You can be forgiven if you’re not familiar with Temple Fortune, as this leafy enclave is somewhat of a well-kept secret and lies between the better known areas of Golders Green and Hampstead Garden Suburb.

Did you know that Spring tends to be the best time to sell a property? It’s true – the Spring months of March to May are arguably the best and most consistent months for property sales year in, year out.

Many Outer London areas rely on a single development or feature to put them on the property map, which is fine if the buying demographic is narrow. By doing precisely the opposite, the Colindale rental market has become a leading driver of growth in Northwest London.

According to official figures just out, the average UK house price was £294,000 in December 2022 – down from £296,000 in November 2022. However, this is £26,000 higher than the same period a year ago. So, what does this tell us as we emerge from a winter of high bills and inflationary pressures?

Our North-West London estate agents have been receiving some very good enquiries since early January and we expect demand to grow steadily throughout the month.  After the exceptional levels of activity we saw in the first three quarters of 2022, this year we expect to see a return to the calmer and more stable market we saw before the pandemic.

Demand for housing stock and the continued investment from overseas investors: these trends continue to act as twin shock absorbers, shielding the UK housing market from sharp swings or sudden drops.

Throughout 2022, we’ve seen growing demand for homes in London from both Hong Kong and Chinese nationals. Firstly, Hong Kong professionals continue to move to the UK using the government’s BNO visa scheme and secondly, Chinese students have again been taking up places at London universities after more than two years of Covid lockdowns.

The start of 2022 saw a return to normality for the London residential property market as both homeowners and investors proved keen to resume their property buying plans now that Covid lockdowns are firmly in the past. From early January we saw increasing demand from domestic and overseas buyers driving forward the market, as they …

Continue reading “London housing market – Review of 2022”

It’s no secret that the UK has seen its share of political upheaval over the last few weeks.  But as we see a new Prime Minister, Rishi Sunak, taking the reins at Ten Downing Street and bringing stability and confidence to the UK once again, many overseas investor clients have been reviewing their portfolios and …

Continue reading “Increasing demand from overseas buyers taking advantage of the weak pound”

The last few weeks have seen economic and political uncertainty in the UK – thankfully an unusual occurrence.  But with the appointment of a new Prime Minister, Rishi Sunak, we look forward to greater stability.

There are some areas in London that can take you completely by surprise as regeneration transforms them into exciting new places in which to live and work.

A somewhat turbulent end to September (to use the Government’s own description) finds the London property market having to deal with the opposing forces of stamp duty cuts and interest rates increases. The stamp duty tax cut announced on the UK Government’s recent ‘mini-budget’ will raise the threshold at which the levy becomes payable from …

Continue reading “Weak pound will continue to stimulate activity among overseas buyers”