It is not uncommon for reports of the growth in value of London properties to include concerns about how this might leave buyers priced out of the market. These are concerns which we certainly do not ignore, but if we take a closer look at current activity in the London property market, it becomes clear that at this time the concerns are far from being a reality. The biggest driver of London property prices is the demand for homes and business premises in the city, and the increasing prices can be seen as a sign that the demand levels are not falling.
The London Borough of Lewisham is an area we can look at to address concerns of increased property values pricing buyers out of the market. This borough illustrates the real dynamics of the city. The last year saw Lewisham record the largest increase in property values in London, with an average 20% increase being recorded. Despite this, this was the borough where the number of first time property buyers was highest.
We believe that Lewisham is an example of how the positives from growth in the London property market are proving to be positive for all. For owners looking to sell the value increases are good news, while being able to finance properties is possible for both first time buyers and portfolio investors. This balance in the market is one of the key reasons why the success experienced with London property has proved to be sustainable.
We have been working with properties in Lewisham for more than a decade, offering everything from sales and property management through to block management and guaranteed rent agreements. Through this we have been exposed to the potential the area offers, and so the above growth figures came as no surprise to us.
If you’re looking for the best property services available for Lewisham or any of the other London boroughs, we are the people you seek. Our track record for success is second to none, and has been recognised through our appointment as preferred suppliers to the authorities across the city.