We also pay attention to what industry observers say, and if you want clear advice and guidance on what is coming next in the housing market, we are here for you.
Sara Ransom is a well-known name in the London property market, and she has been speaking about what comes next for buyers and vendors in the capital.
Sara said; “The London property market has been on ice for months and the pressure is building. As soon as lockdown starts to be relaxed, the housing market is going to take off in a dramatic manner.”
Sara also said; “Our prediction is things will start to pick up at the beginning of April, and that the market will be in full flow by the end of the Easter holidays. Demand is likely to exceed supply, and we expect to see price rises, especially in prime central London where prices have dropped by as much as 15 per cent due to the lack of overseas buyers.”
When it comes to property values, always a key factor for homeowners and buyers, there is optimism these figures will rise. Sara Ransom said; “Price reductions will fully reverse over the course of the next six months, and we predict that values will finish 2021 around five per cent higher than at the end of 2020.”
While there are regulatory matters to consider, and some people will have concerns over the longer-term impact of the pandemic, London will likely move forward soon. This should see a return of visitors, and foreign investors.
While no one knows what is likely to happen with any degree of certainty, there is confidence in foreign investors still viewing London as a great place to own property.
Sara said; “We expect them to return in force in April. They’re keen to buy having been unable to come to London for over a year now. It’s no secret that many Londoners have escaped the city during the Pandemic, and there’s a belief that there will be a strong desire to make a move to the country during the course of 2021. We believe that the proportion of people leaving the capital will be no more or less than in previous years. As the vaccine rolls out, and normality starts to return, the appeal of London life will re-ignite and London will become party-central.”
Sara concluded by saying; “Buyers and sellers alike should get ready for the floodgates to open, we are approaching a heady market with stratospheric levels of transactions, and significant price rises.”
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