If you are concerned about the value of your home, you are not alone. There is considerable interest in property value, and we are here to assist you as best we can.
How much is your home worth?
According to Rightmove, as of the end of April 2021, the housing market in Norbury can be described as such:
“Properties in Norbury had an overall average price of £509,241 over the last year.
The majority of sales in Norbury during the last year were terraced properties, selling for an average price of £511,113. Flats sold for an average of £379,037, with semi-detached properties fetching £614,949.
Overall, sold prices in Norbury over the last year were 10% up on the previous year and 10% up on the 2017 peak of £461,350.”
At Holmes Estate Agents, we know the importance of property values, and we do everything we can to ensure you make an informed decision in the housing market. If you would like to arrange a property valuation, please contact us today.
How much do you think your home is worth?
Zoopla have carried out a Hidden Equity Survey. The study spoke to 2,000 property owners who have received a valuation by an agent in the past three years. Some of the key findings are:
45% of respondents found their home was worth more than they thought
The home was worth, on average, £46,305 more than expected
25% of respondents found their home was worth less than they believed
These respondents found their home was worth, on average, £44,313 less than they expected
Zoopla released a statement about the results, saying; “the role the agent community has to play in educating consumers, with just three in 10 homeowners having an accurate idea of the estimated value of their home.”
Andy Marshall, Zoopla’s Chief Commercial Officer said; “The pandemic and subsequent lockdowns have led to a once-in-a-lifetime reassessment from homeowners about how and where they want to live. This, coupled with the stamp duty holiday and the search for space, has led to a buoyant market; however, it's clear this soaring buyer demand is not currently being matched by the supply of homes being listed for sale.”
Andy continued by saying; “This is why Zoopla has launched My Home, to encourage homeowners to check the estimated value for their property and consider selling their home to unlock hidden equity, which will, in turn, stimulate the market. For those keen to progress with a sale, they can contact an estate agent directly using My Home to make contact with an agent for an expert market valuation and personalised guidance on how to best navigate this busy housing market.”
Gráinne Gilmore, head of research at Zoopla, explained: “The effects of the pandemic over the last 12 months have been felt in the housing market, with many households reassessing how and where they want to live. There is soaring buyer demand but this is not currently being matched by homes being listed for sale. Homeowners considering a move could be in pole position in their local market if they offer their property for sale, and could be set to unlock hidden equity.”
We have considerable experience and expertise in the South West of London. We are ideally placed to help vendors, tenants and landlords during this challenging time. If you have any questions regarding the South West London property market, please get in touch with Holmes Estate Agents today.