Redbridge property prices were up in August

Finefair keeps a close eye on property prices across London so we can offer the best advice to our clients. There are a number of locations where values are up and showing great signs of continuing to grow. We offer services in all of these areas, including the best estate management Redbridge has available.

The latest figures from the Office of National Statistics are great reading for investors who own properties in Redbridge. In August prices rose by an impressive 2.5% thanks to healthy demand. This pushed the 12 month growth to 7.3%. The average sale price was £441,249, a massive £232,797 ahead of the UK average. This is great for an Outer London Borough.

Property types

Redbridge saw good growth in prices for every type of home. In fact it had better performance than popular affordable buyer spots such as Barking and Dagenham, Newham, and Havering. Every type of property also saw higher growth than the average for the UK.

The highest rises in prices were for semi-detached homes. In the 12 months to August 2018 the growth was 9.3%. Detached homes grew in price by 8.5% in this time. Terraces had a healthy 8.1% and flats also earned 5.3%.

Longer term

The prices in Redbridge have been growing for much longer than the last twelve months. While there have been some periods of cooling, in five years homes have risen in value by £160,000. Investors who got in before this will have nice capital gains.

The future

While the growth now is good there is still uncertainty in the future. The big fear is that rises in interest rates and more difficulty with lending will make it harder for people to invest. The Bank of England could increase the base rate above 2% within the next 2 years. As a result it would be more expensive to get a mortgage.

Finefair is on hand to support investors. We provide a range of useful services, helping with all kinds of investment. From single homes to entire estates, we offer great value. We can guarantee rent across London and even arrange council leasing if it is the right option for our clients.

If you want to work with the top team for estate management Redbridge has or would just like advice, please contact us. We aim to help you get the best from your investments.