Recent data released by HouseSimple reveals how quickly residential properties in major UK areas change hands. The fastest moving market is Belfast with just 1.9% of homes remaining on the market for 6 months or more. This is much faster than the 12.5% average across the 50 locations. The slowest moving area was Sunderland with a huge 28.5%.
The story for London is very interesting. In March the city as a whole saw 13.8% of properties remain on the market for over six months. This has now fallen to 12%, showing an increase in demand and putting the speed of sales just ahead of the UK average. There are some huge differences between areas though.
The best performing Borough in London is Waltham Forest. Currently homes put up for sale in the area sell rather quickly with just 0.6% remaining on the market for over 6 months. Demand is very high here as more people target the value for money and additional space on offer in suburban areas.
Westminster has the slowest property market in London. The percentage of homes in the Borough that remain on the market for in excess of six months is 22.5%. The sluggishness may be caused by many factors including high prices and stamp duty.
The above should make it clear how much of an investment hotspot Waltham Forest is. Prospective buyers will also be encouraged by the efforts going in to improving the area. Most recently it was announced that the local council had launched a scheme to add more greenery to the Borough by planting 1,200 more trees. These will help to improve air quality in the area and also make streets look more attractive.
The work we do at Finefair for investors has seen us working in Waltham Forest more frequently over the last few years. We are proud to offer our full range of services here, whether it is lettings, managing properties, or guaranteed rent.
A service we take great pride in is offering the best block management Waltham Forest has to offer. With it we deliver the utmost value and can handle managing differing numbers of properties for our clients. Standards are maintained at all times and we work hard to offer the right support.
If you want to find out more about what we do, please get in touch.