2020 set to be a bright year for London’s housing market

London’s property market is on track to have a bright year in 2020, with house prices expected to see their highest rise since the 2016 EU referendum, according to property website Rightmove.

Following the result of the General Election at the end of last year which gave greater certainty over Brexit, property prices have started to slowly climb. This trend is projected to continue this year.

The apparent will to 'get Brexit done' has restored buyers’ confidence, as they once again see property as a stable long-term investment.

This increased confidence is reflected in demand and has boosted activity in the housing market. This is positive news for prospective sellers who had been putting off selling for the last few years amid ongoing uncertainty. More houses on the market will relieve some of the pent-up demand for property in the capital.

This house price forecast for London reflects the nationwide trend of improvement in the market, with UK property prices estimated to rise by 2% this year.

Stephen Ludlow, Chairman of ludlowthompson says: “These predicted price rises are great news after a prolonged period of uncertainty over Brexit.” 

“We predict a rise in the number of houses being put on the market in the next few months. Sellers should act quickly while demand is high to get the maximum price for their property.”

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Lana Soko via Google Reviews:

“We just sold our 2 bed BTL in Camberwell. Ludlow Thompson were very efficient, got great interest in the property, and made the sale process smooth and quick. Highly recommend this agency.”

Paul Paragon via Google Reviews:

“Thoroughly professional and great expert advice with a friendly and trustworthy service. I wish I could have had this team for all my other house sales. Highly recommended.”