At Holmes Estate Agents, we stay in touch with the housing market across South West London, and in London as a whole.
It is fair to say there has been a lot written about the London property market in the past year, and many observers believe the market is shrinking with many people leaving the capital.
This doesn’t quite tally with what we have seen. Yes, we have helped many homeowners place their house on the market, moving to a larger home or different area. However, we have also welcomed many new households to the area.
What type of home appeals to you?
We have also helped many homeowners love to larger or more appealing premises in the local area. We think there are many reasons to stick around in South West London, and not everyone is drawn to a life in the country.
If you are considering your options, and think a move in, out or around South West London is right for you, we are here to help you make that come true. There is no getting away from the fact that these are challenging times, but with our assistance, you can make an informed decision.
We speak with many clients in this part of the capital, and we stay in touch with the latest studies. You can rely on Holmes Estate Agents to ensure you make the right move.
A survey carried out by SpareRoom spoke to more than 12,000 users of the platform. 40% of respondents said they plan on moving home post-lockdown, with 38% of respondents who live in London stating their desire to move house after the lockdown.
76% of respondents said they intend to move out of their current town or city.
77% of respondents from London say they plan to leave the capital entirely.
For the first quarter of 2021, the level of demand v supply for London was down by 23% compared to the 2020 figure.
Life is moving forward
Matt Hutchinson, SpareRoom director comments: “Over the past year we’ve seen the effect Covid-19 had on London rents, with averages falling consistently in four consecutive quarters. That's driven largely by a drop in demand compared to supply, as renters left the capital during lockdown. At the same time, rents have risen slightly in the rest of the UK.”
Matt continued by saying; “As the country starts to open up more over the coming weeks and months, we'll see pent up demand being released. We'll also see the return of jobs in sectors like entertainment, hospitality and tourism, which London relies so heavily on. Whether that means a mass return to the capital, or whether some of those who left won't return remains to be seen. But we do expect things to shift over the summer.”
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.