Prime areas in London such as Hammersmith and Fulham have struggled with demand in the last few years. The market has cooled, resulting in many sellers reducing their asking prices in an aim to attract a buyer. Some investors have been enticed by the savings though because they anticipate a return to growth in the long term.
National Hotspots Index
Emoov’s recent index shows the performance in the property market in the UK during Q1 of 2018. There is a lot of interesting data in the report, including the figure that overall demand in the UK is down by 3% in comparison to Q4 of 2017. Some areas in England have become immensely popular in the period whereas others have seen further cooling.
In London demand is down by 15%. In some areas demand for properties was up but it fell in others. Hammersmith and Fulham had some of the most interesting results. Although overall demand is low, the change since Q4 of 2017 is the highest in the whole of the capital. In the period the growth has been an impressive 43%.
Long term growth
One of the problems in the market is that uncertainty still remains high. This means a number of sellers are holding on to properties rather than looking at selling. This can restrict how varied the housing stock is. Improvements in demand and factors such as regulation of estate agents could improve the situation though. This could encourage more people to return to selling.
Some investors will be considering completely changing their strategy until the uncertainty is gone altogether. A good strategy here is to opt for letting out homes. Finefair can help with this. We offer a series of options and are the best team for property management Hammersmith and Fulham has. Clients can entrust us to take good care of their assets.
If you would like to discuss property management or other services with us please get in touch.