What Next For London Buyers?

What Next For London Buyers?

January has brought a flurry of activity to the London market as investment purchasers step up their game to ensure they avoid the increases in stamp duty.

Sara Ransom, director of Stacks Property Search in London, says: “Buy to live purchasers can't be blamed for stepping out of the arena for this buy to let mini-bubble. Their reward is likely to be less punchy prices on the kind of property that lends itself to investment purchase. So April will be a good month for non-investment purchasers of new homes where there's a good chance that discounts of up to 3% will be on the table.

At the lower end of the resale sector, buyers may struggle to negotiate discounts. The £300,000 - £600,000 market has gone from strength to strength since the new Stamp Duty bands were introduced in the autumn of 2014. The first time buyer market in areas such as Clapham, Balham and Streatham is buoyant; buyers interested in ex-council apartments in Brixton will have to work hard just to look at one before it's snapped up.

Over £600,000 there's less competition, especially as overseas buyers represent a much smaller proportion of buyers than two years ago, but the market is moving steadily, and there's plenty of demand from those upsizing to a second home, with help from the bank of Mum and Dad. But here may be a little room for manoeuvre on price if you do your research, kick hard in the right places, and get your timing right. April will be a good month to be negotiating.


Sara continued: “Meanwhile, the prime central London market remains in intensive care; its recovery is expected to be slow and painful. The question is, how far will prices fall before people start speculating again?

“Last but not least there are some serious concerns brewing for homeowners in Balham. Crossrail 2 has proposed a new route between Clapham Junction and Wimbledon that puts a station at Balham instead of Tooting Broadway. And why isn't this a good thing? The bad news is that there's a rumour that Balham's much vaunted Waitrose will have to shut for up to six years during the construction work. Balham will surely benefit from this fantastic new infrastructure, and prices will inevitably rise as a result, but in the short term, there may be some long faces.”

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Spencer Fortag
Spencer Fortag 25 Aug 2016

The funny thing is, I mentioned the brick issue in my blog back in April: http://medwayproperty.blogspot.co.uk/2016/04/the-medway-property-market-and-lack-of.html

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SecomTech
SecomTech 19 Aug 2016

Firstly, I either lodge with DPS or do not take a deposit...secondly, If a tenant has not received a confirmation their deposit is secured with either a scheme or in an insured account with an agent/landlord,...

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jasonevans
jasonevans 19 Aug 2016

Belvoir has over 15 years of experience in property lettings, buying and renting and is one of the best agencies I know about. I have heard that they revived an award for the hard work. Really amazing...

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jasonevans
jasonevans 19 Aug 2016

Usually these areas are least affected when it comes to unexpected economical collapse.

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TheWaspNestRemover
TheWaspNestRemover 11 Aug 2016

You agree to pay for the treatment needed to get rid of fleas, ants, mice, wasps nests and other pests unless you can prove that these are a result of us not meeting our repairing responsibilities or these...

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madisonwelch80
madisonwelch80 02 Aug 2016

16% is quite a raise. Let's hope this tendency won't continue for long.

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madisonwelch80
madisonwelch80 02 Aug 2016

?66,963 is a serious price drop However buying a property it a serious investment only small percentage of the UK population could afford.

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madisonwelch80
madisonwelch80 02 Aug 2016

Wow, it kind of surprised me. I mean counting on mom and dad's bank even after retirement is too much. That's the moment in life when one should have ensured themselves. I am shocked.

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AbbieP.
AbbieP. 22 Jul 2016

"While house prices in the most expensive eleven boroughs have declined values in the cheapest eleven boroughs continue to rise" - not a nice way to even out the price range. London is overrated as it

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AbbieP.
AbbieP. 21 Jul 2016

And try to profit from your decisions, I may add

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CommercialTrust
CommercialTrust 19 Jul 2016

Retirement investment has always been one of the biggest draws of buy to let. And the buy-to-let demographic is, on balance, older. (Over a third of our applicants are over 50 at the time of application.) It...

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Forrest Wheatey
Forrest Wheatey 11 Jul 2016

I find the time perfect for ever home-owner wannabe. Prices should slowly, but steadily drop, at least for the inner buyer. Making it harder for outsiders to buy properties (the whole Brexit thing means...

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