You may have only just packed away your flip flops and still have the remnants of a tan, but before you know it the attention soon turns to Christmas! The London housing market always picked up slightly when the holidays were out the way and the kids were back at school,but this year, speculation in the media and doom and gloom seems to have changed all that.
Negativity in the media has caused some confusion
Whatever you see, read, or hear in the media, the truth is London property prices are generally holding up extremely well. There is a drastic shortage of property and people need a roof over their heads so… property prices are unlikely to go into free-fall. Interest rates are widely predicted to remain low for quite some time, property prices are highly likely to equalize and settle into next year and as you would expect the more sought after an area is, the more chance there is that the prices will actually rise. Crouch End, Islington and Stoke Newington are all good examples, so it follows that this has a ripple effect with neighbouring area’s like Harringay and South Tottenham.
National House Price Statistics are no way to judge the London property market
Most statistics and news stories quote average house prices across the country, when in reality you would struggle to get a one bedroom flat in London for the same figure! So I wonder… As people are getting more and more clued up, will property reporting get more precise, or will there be more effort to sensationalise and grab those housing market headlines?
We are more than happy to answer any individual property questions… just click here, or go the the ‘Ask us a Question’ tab above.