While we think Hackney has a lot to offer, we appreciate the events of the past year means many people are looking to move away from Inner London. This is something we have seen in our dealings with customers, and it is found in the many reports and studies that are taking place right now.
Information released by a leading name in the UK housing market suggests that Londoners leaving the capital purchased 73,950 homes in 2020. This represents the most significant exodus from the capital in four years.
The value of property bought by London leavers amounted to £27.6 billion, and this is the largest amount since 2007.
The average distance of people moving from the capital reached 40 miles, and this was the first time this happened in more than ten years. For the opening three months of 2020, the average moving distance was 28 miles.
This is similar to what is happening across the country, but of course, the London market receives most of the focus.
If you are looking to leave London, and you need help in selling your home, we are here to assist you. At Sovereign House, we have assisted many homeowners in Hackney in selling their home, and we look forward to assisting you.
Stuart Williams, Founder and CEO of Thirlmere Deacon commented: “Demand has been shifting away from London for some time and this year, the number of relocations skyrocketed in a trend that’s set to continue. Large cities away from the capital have seen increased interest and we have seen a boost in investor demand for properties across Manchester, Liverpool, Leeds and Birmingham. Location has been key for property investors during 2020 and this theme will continue into 2021.”
Stuart Williams continued by saying; “Successful investors recognise the importance of purchasing property with a long-term view. When they look at buying a property, they first consider where is this property going to be in 5-10 years and aim to double the value and triple the rent. Unfortunately, there’s no crystal ball. Most mistakes are made in the property market when investors are trying to hit a goal over a short-term period. If you need to get things turned around quickly, you're in the lap of the gods. I've said this once or twice before. It's about looking long-term - whenever investors are buying a property, they should look five, eight, 10 years down the road, at least.”
Whether you are an investor looking to achieve success or the head of a household looking to provide your loved ones with the best setting, we are here to assist you.
These are challenging times in the property market, but there is activity and demand for homes. At Sovereign House, we are keen to help you with whatever you need in the Hackney housing market. Why not call us on 020 8985 5800 or visit us at 213 Victoria Park Road, we look forward to assisting you with your property needs.