By Steve Hatch On your marks, get set… I have learned to effectively filter the ‘same old’ media reports that the property market is still doomed. These stories, tweets and retweets, just do not tie in with what is ‘actually’ happening in our North London branches. The reality is a good levels of buyers registering, strong sales figures, and in many cases, above asking price offers. However, there is a shortage of quality property instructions and ‘financially organised’ buyers are acutely aware of this. It doesn’t help when…Potential vendors seem to think that the prices are going to magically go up overnight when the 2012 Olympics are here! Like all good estate agents we obviously follow up on our valuations to find out when they are likely to want to sell. There is a growing trend of people thinking that their prices are going to be higher when the 2012 [...]
I have to admit my French is not that good but I do understand a strong feeling of Déjà Vue when it comes along! I have definitely been here before, all the signs are strong, and so is the feeling that the North London property market is about to take another upward turn, but this is ‘Deja Vue’ with a twist… Lending is tougher now than in previous recessions, but that didn’t stop a very strong finish to 2010.
Here’s my prediction for the North London Housing Market.
Whatever you see, read, or hear in the media, the truth is, prices are generally holding up well, in fact they are on the rise as more and more people are getting mortgages, add the fact that interest rates are predicted to remain low for quite some time and property prices are highly likely to rise steadily over the next two years, but be warned it is possible, likely even, that they could rise at a faster rate in sought after area’s such as Harringay, Crouch End, Islington and Stoke Newington.
Famous Villain Moves in on Harringay Property! In the old town of Harringay in North London N8 there is a battle going on. Even now as I sit here typing this, from my property newsdesk AKA ‘Castles Estate Agents’, the famous bully ‘Gazunderer’ is being chased out of town by what some would describe as just another big bully called ‘Gazumper’ The battle is almost won and the gazunderer has been sent packing.
‘On your bike’… Landlords should be saying to Tenants as the number of cyclist in London has increased by 107% since the year 2000
Secret Agent – “Ok, so let’s put it into perspective, are they really trying to convince you to put your property on the market on the basis that the value has increased by £70.000 over the quietest few weeks of the year… come on, what does that tell you”?
Tough times these maybe, but Londons restaurants are dishing it out. North London Property experts Castles Estate Agents have observed!
Another busy day in the office
I am pleased to bring you my weekly property bulletin. Don’t be shy, feel free to comment! Here in the Harringay branch we are definately experiencing an increase in buyers enquiries. Speaking to our colleagues in neighbouring branches, they have echoed this. We are also noticing an increase in investor activity, now these people really do study the markets! Well as if we needed proof, we also received an email from ‘Rightmove’ saying that email enquiries were up 109% on last year! Now that property prices appear to have settled within the area, the emphasis seems to be on affordability, with interest rates still at a historical low. Most banks still require a large deposit, but the experts indicate that the banks seem to be lending and borrowing from each other again as confidence is growing, so it is only a matter of time until they find the balance! Banks [...]