Thinking of selling your property in East London? Now may be the time!
Halifax’s latest house price index has given some interesting revelations. The UK house price grew by 5.7% in June. This is a measure of annual growth and brings the average UK house price to £237,110. The figure recorded for May was 5.2% which was also considered to be a great sign for the market.
Russell Galley, managing director of Halifax said, ”More generally the housing market is displaying a reasonable degree of resilience in the face of political and economic uncertainty.”
We reported earlier this year that Hackney had highest house price growth for sellers, and east London’s popularity with buyers appears seems set to continue.
We have London buyers ready & waiting
One of the biggest factors for the market however is the availability of property for sale. Buyers are there. They are tired of waiting for political uncertainty to blow over and they are committed to purchasing. Mortgage approvals have been steady and continuous and purchasers in London are ready to go.
What we need is more property on the market for these people who need to find new homes. Brian Murphy, head of lending for Mortgage Advice Bureau, said ”those who need to move are doing so, regardless of politically-driven news headlines, and are far more likely to make the decision to purchase based on their own circumstances should the need dictate.’
We tend to agree. We’re seeing movement in the market and would like the supply to meet the demand that is out there.
Do you have a property in east London to put on the market?
If you are considering selling your home, our team of estate agents in Royal Docks can talk you through all the steps necessary to make your next move.
If you’d like to know how much you could sell your property for, get an instant online valuation of your London property here or contact to your nearest Henry Wiltshire office for a free no-obligation professional market appraisal.