{"id":21113,"date":"2022-09-21T10:51:50","date_gmt":"2022-09-21T09:51:50","guid":{"rendered":"https:\/\/www.benhams.com\/news\/?p=21113"},"modified":"2025-02-19T10:46:59","modified_gmt":"2025-02-19T10:46:59","slug":"larger-homes-driving-forward-the-north-west-london-property-market","status":"publish","type":"post","link":"https:\/\/www.benhams.com\/news\/property-sales-market\/larger-homes-driving-forward-the-north-west-london-property-market\/","title":{"rendered":"Larger homes driving forward the North-West London property market"},"content":{"rendered":"

\"LondonThe \u2018race for space\u2019 continues to drive forward demand for homes in North-West London, particularly in areas such as Hampstead<\/a>, Highgate<\/a> and Dartmouth Park<\/a>.\u00a0 The residential property market remains strong and enquiry levels are high, despite wider economic concerns about the energy crisis and rising inflation.<\/p>\n

Large family homes with gardens and large garden flats with outside space are in very high demand and prices are remaining firm as demand continues to outstrip supply of this type of property in outer prime London.<\/p>\n

At the upper end of the market, buyers looking for premium properties<\/a> tend to have much larger deposits and may be buying with just a small mortgage, or they may be cash buyers, so economic pressures such as mortgage interest rate rises have far less impact.<\/p>\n

With so many enquiries coming in we remain short of stock of family homes and apartments.\u00a0 We\u2019re achieving good selling prices for our clients but we desperately need more stock.<\/p>\n

Current demand shows no signs of slowdown<\/h2>\n

Typically, the most sought-after properties are achieving guide price or over and there is little room for buyers to negotiate, so it seems that the boom in demand caused by the pandemic is not yet showing any signs of slowing down.\u00a0 If we receive multiple offers on a property, which is quite common, we usually receive several offers above the guide price and eventually go to \u2018best and final\u2019 bids.\u00a0In fact, we\u2019ve just agreed a sale on a maisonette in Hampstead \u2013 a four bedroom property in excellent condition \u2013 it went to best and final bids, achieving over the guide price of \u00a32.5m.<\/p>\n

\"OutstandingWe\u2019ve also just agreed the sale of an unmodernised property in Hampstead Garden Suburb \u2013 the first time the property had been on the market in over 50 years.\u00a0 We received multiple offers and eventually it too went to \u2018best and final\u2019 bids \u2013 we agreed a sale for over the \u00a32m guide price. And another sale agreed of an additional unmodernised property – a garden flat in Primrose Hill, which has fetched more than 15% above the guide price.<\/p>\n

Accurate valuations are essential<\/h2>\n

Despite buoyant demand for homes in North<\/a>–West London<\/a>, accurate, up-to-date valuations are essential to attract serious buyers.\u00a0 Buyers recognise that the market is competitive but they also research the market in detail so they know the prices that similar properties nearby are achieving.\u00a0 If properties are overpriced, they won\u2019t attract the same level of interest.\u00a0 This makes realistic pricing essential.<\/p>\n

First and second time buyers looking at smaller properties \u2013 one and two bed flats – are more likely to be experiencing affordability problems as budgets are tighter and interest rate rises and inflation are more of an issue.\u00a0 So demand for these homes is more price sensitive and accurate valuations are even more important.<\/p>\n

Continuing high demand for homes in Colindale and Hendon<\/h2>\n

\"HongOur Beaufort Park branch in Colindale<\/a> also continues to see strong demand from homebuyers, particularly for larger properties \u2013 three bed houses especially.\u00a0 Enquiry levels remain extremely high and transaction levels have remained steady throughout the year to date.\u00a0Hong Kong buyers<\/a> dominate the market \u2013 they have good budgets and are usually cash buyers, ideally looking for a house.<\/p>\n

And of course, new developments such as Beaufort Park<\/a> and Colindale Gardens<\/a> are extremely popular with London\u2019s renters so there is also a lot of interest from investors, mainly introduced to us via our international offices<\/a>. We\u2019re taking on new instructions regularly at these and other sought-after developments but we always need more stock to meet demand.\u00a0 Typically two bed apartments are achieving \u00a3500-\u00a3550k and three bed apartments \u00a3600-\u00a3650k.\u00a0 We have a number of buyers interested in purchasing here as soon as possible and are hoping to attract new instructions to help meet demand.<\/p>\n

\"OurContact us for a free market appraisal of your North-West London property<\/strong><\/p>\n

We are short of properties of all types across North-West London and we are achieving good prices for our clients.\u00a0 So if you would like to know how much your property could be worth, please get in touch with our sales teams<\/a> or talk to me. We are always happy to answer any questions you may have or provide a free market appraisal<\/a> of your property.<\/p>\n","protected":false},"excerpt":{"rendered":"

The \u2018race for space\u2019 continues to drive forward demand for homes in North-West London, particularly in areas such as Hampstead, Highgate and Dartmouth Park.\u00a0 The residential property market remains strong and enquiry levels are high, despite wider economic concerns about the energy crisis and rising inflation. Large family homes with gardens and large garden flats … <\/p>\n

Continue reading “Larger homes driving forward the North-West London property market”<\/span><\/a><\/p>\n","protected":false},"author":1001036,"featured_media":21114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[451,452],"tags":[],"class_list":["post-21113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-london-property-market","category-property-sales-market"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.benhams.com\/news\/wp-json\/wp\/v2\/posts\/21113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benhams.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benhams.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benhams.com\/news\/wp-json\/wp\/v2\/users\/1001036"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benhams.com\/news\/wp-json\/wp\/v2\/comments?post=21113"}],"version-history":[{"count":9,"href":"https:\/\/www.benhams.com\/news\/wp-json\/wp\/v2\/posts\/21113\/revisions"}],"predecessor-version":[{"id":25060,"href":"https:\/\/www.benhams.com\/news\/wp-json\/wp\/v2\/posts\/21113\/revisions\/25060"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.benhams.com\/news\/wp-json\/wp\/v2\/media\/21114"}],"wp:attachment":[{"href":"https:\/\/www.benhams.com\/news\/wp-json\/wp\/v2\/media?parent=21113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benhams.com\/news\/wp-json\/wp\/v2\/categories?post=21113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benhams.com\/news\/wp-json\/wp\/v2\/tags?post=21113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}