2018 – A Cautious Start
As January slides slowly into history we are still left wondering where property prices will go. We “London-centrics” have seen falls of up to 20% in the higher value parts of Prime Central London (PCL) and a fairly uniform 10% in all other parts. The heady days of 2015 are behind us as a result of tightening mortgage criteria, swingeing increases in stamp duty and all the pervading uncertainty of BREXIT.
The first-time buyer market is however experiencing a noticeable re-vitalisation but the £1.5 – £3 million price band remains in the doldrums. Areas such as Fulham, Wandsworth, Battersea, Hammersmith and Putney continue to show some resilience and there is an indication that people are looking further afield at areas such as Isleworth, Teddington, Croydon and Harrow where good transport links are seen as a trade-off for the downside of increased distance. We await developments in the market with interest.
At Price partnership we have added Matt Hillarby to the team and will later this year have an additional presence this time in West Sussex when Simon moves to the coast near the thriving and historic town of Chichester.