In June House Simple released its latest data for property supply across the UK. The figures show that supplies have gained 4.8% overall in May. Different areas fared better than others though, with some seeing a drop in availability whilst others have enjoyed an increase in the number of homes that are available.
The best performing area in the whole of the UK in the period was Lichfield in the West Midlands. This saw a huge 55.8% rise in supplies. Chesterfield and Rugby followed with 37.5% and 32.5%. In London the best performing area was Waltham Forest at 31%. Merton followed closely with a 30% increase.
The performance of the two areas in the capital is impressive and comes as 53% of the 32 London Boroughs reported a rise in supply. The news is very welcome, particularly with restrictions on supplies coupled with high demand continuing to push prices up in many areas.
Merton is a very interesting Borough to live in thanks to the great location and the attractions on offer. The area has enjoyed a growing population over recent years and numbers are expected to continue to rise between now and 2020. The age groups showing the highest growth are over 50s and under 16s. This shows that the area is very attractive to families. In fact this kind of household currently makes up approximately one in four of the homes in the Borough.
Areas to the west in Merton tend to be the most affluent, particularly those around Wimbledon. There are many attractive larger homes here as well as more open spaces to enjoy. This pushes up demand for homes in the area.
At Finefair we can help people to choose the right investment properties in Merton. If you are looking for a home that offers the potential for a fantastic return we can help. We will work closely with you to determine your criteria and help with the search. We can offer advice about different areas and also help you to plan your lettings strategy, determining whether you want to do it privately or with the local council.