A number of clients, who own property in SE15, have spoken to me in January regarding the future of the property market in SE15. I always like to talk about the local property market, and in future articles intend to discuss the history of rents, property values, tenant demand, and rental yields in SE15. Whether you are a Landlord or not you’ll find plenty of information in my articles about house prices in SE15.
Reviewing recent data from January, property values in SE15, were 9.67% (source Zoopla) higher than the previous year. It should be of no surprise to hear that SE15 property values are now beginning to slow up, which is also being reflected in the general press when referring to the London market. Property values in SE15 grew up to 2.7% per month in the Summer just gone. However, in the last few months they have slowed down considerably, and there has actually been a slight fall of 0.47% in property values during this period.
The first half of 2014 saw a buoyant market in SE15, and the second half of the year saw the demand starting to weaken. So what about 2015? Will the SE15 market be held back by affordability and restricted mortgage lending, the General Election and the possibility of a small interest rate rise on the horizon? It looks like a combination of these factors has already curbed housing demand. The tempering in demand has led to an easing in both property price growth and sales in the last quarter of 2014. Slower growth looks likely in 2015 as supply and demand become increasingly better balanced.
However, back to SE15, long-term property values are more significant than the highs and lows to landlords, investors and buyers alike. I’m often asked by Landlords:-
• “Should I sell my property, or even buy another?”
• “Is the time right to buy another buy to let property in SE15?”
• “What property bargains are out there in SE15?”
Many other SE15 landlords, both who are with us and many who are with other SE15 letting agents, like to pop in for a coffee to discuss the SE15 property market. I don’t bite, I don’t do hard sell, I will just give you my honest and straight talking opinion.