In December eMoov.co.uk released the final Property Demand Hotspots Index to showcase the performance in the final quarter of the year and 2016 as a whole. The data looked at which areas of the country had experienced the highest increases and decreases in demand for properties.
There are a number of valuable statistics in the Index. Firstly is the fact that nationally it shows a 7% drop in demand in the fourth quarter of 2016. This is a natural occurrence due to the time of the year though. Generally the market recovers and picks up again at the start of the New Year.
The second important piece of information is that only one location in London made it on to the list of the top ten areas in terms of growth in demand over the whole of 2016. The area in question was Sutton and it sat at number three with a 110% increase. It placed behind Stoke-on-Trent (112%) and Stockport (126%).
The year has certainly been a tough one with a great deal of uncertainty surrounding changes to stamp duty and the political situation. The property market has remained relatively strong though and seen some big changes. The biggest as the demand growth shows is that many of the previously “weaker” markets have become more popular. This comes as people search for the best value for money.
Sutton certainly is proving to be a very popular area for buyers, including both owner occupiers and investors looking at buy to let. The huge increase in demand has driven prices up in the area, making it one of the very best hotspots in London and the country as a whole.
At Finefair we provide a wide array of services in the London Borough of Sutton. These include providing support for investors, property management, and guaranteed rent too. We can tailor a service to suit any requirements and always prioritise the interests of the client.
We are firmly established as a leading lettings agent in Sutton and can answer any questions prospective and existing clients have. If you would like information about any aspect of being a landlord please contact us.