Estate Agents in Greenford gear up for a strong finish to the year
With Autumn fast-approaching, Greenford-based estate agents look forward to more activity in the local property market
With the incoming Crossrail line (albeit delayed), areas such as Southall, Hayes and West Drayton have stolen the headlines in recent years when it comes to buyer interest and property investment that you could have almost missed the hive of activity taking place in Greenford and neighbouring areas such as Northolt. Prices have risen in line with those in the Crossrail corridor but haven’t been hit by the recent slump in property prices affecting much of London.
While prices in Southall posted a loss in 2018, prices in Greenford have risen by 3% in the last six months alone. With some of the boroughs best schools, access to the central line and Paddington station, and continual development and regeneration projects, Estate Agents in Greenford don’t see that trend changing anytime soon.
As we enter Autumn, activity tends to pick up again in the property market as buyers and sellers look to complete moves before the traditional Christmas deadline. This view is supported when we note that the number of properties held by estate agents increased across the UK, from an average of 33 per a branch in April to 41 in July. This continuing trend is mirrored across Greenford as the number of properties on the market in September grew to over 270, a 12-month high.
Along with the growth in the number of properties available on the market, the time a property remains on the market has also been increasing over the summer months. While this may initially be viewed as a negative sign of buyer malaise in a crowded market, that isn’t the whole picture. During the summer, buyers have the luxury of time, but with winter approaching, days getting shorter, the traditional deadline for home moves is coming closer, and buyers will have to act fast to in order not to miss spending Christmas in their new home.
For buyers, the growing number of properties on the market means there’s more chance of grabbing a bargain as motivated sellers try to divest themselves of their homes or investment properties by the end of the year. With plenty of property on the market, it also reduced the chances of getting caught in a bidding war, which could lead to paying more than you were comfortable with or missing out on your dream home.
The luxury of choice that having ample property stock on the market provides means first-time buyers now have a greater chance of buying their dream home. Across the UK, first-time buyer purchases increased to 30%, an eight-month high. It’s a trend we hope continues.
SAB Estates: The Greenford Estate Agent view
With the Greenford property market remaining resilient against the broader market forces throughout 2018, we are optimistic for the months ahead and into 2019. Being based in Greenford, SAB Estates has a long history and deep relationship with the area, its people, businesses and organisations. We’re proud of the diversity in the area and encouraged by the development taking place. Whether it’s the mixed-use community taking shape on the site of the former GSK office building or the recently completed developments on Greenford Broadway, the area is continually regenerating and improving. With great schools and transport links, it’s a great place to live and buy a home and we envisage the property market to remain strong and busy times to come.
If you would like to speak to someone about the market in Greenford, or you are looking to sell your property or buy in the area, get in touch today on 020 8575 2929.