Onwards and upwards for house prices as growth picks up?
- 22nd September 2017
- Selling Property News
London house price growth demonstrates consistent calm
Both sellers and buyers should be cheered by new figures showing that London house price growth is steadily picking up again after slowing last year, with the latest figures showing year-on-year growth of 2.8%.
While the Brexit-effect has doubtless had an impact, this highlights that there is still value in the market. Prices may have moderated but demand should remain strong.
Already this month, we have seen the seasonal late-summer rise in applicant numbers, with a proportion in the market to buy and put down real roots. The latest statistics showing that a record number of people are in employment will give further confidence to purchasers to buy and to vendors to trade-up. Further, as we highlighted in last month's newsletter, buyers are benefiting from the availability of mortgage finance in a currently competitive mortgage market.
Buyers are keen to get onto the property ladder while sellers are offering more considered asking prices, while others who have been steadily saving for a deposit may see now as a good time to take that first step.
Stephen Ludlow, Chairman at ludlowthompson comments, “House price growth may have eased off but in the current environment, 2.8% is still very respectable and points to resilience in the London market.”
“In recent weeks, our offices have been busy fielding new enquiries from prospective buyers. While we tend to see a seasonal uptake around this time of year, it’s encouraging to see that demand and house price growth remains positive.
House price growth may have eased off but in the current environment, 2.8% is still very respectable and points to resilience in the London market
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