020 7223 3837
108 Streatham High Road, London, SW16 1BW
020 7223 3837
108 Streatham High Road, London, SW16 1BW
estate agents
020 7223 3837
108 Streatham High Road, London, SW16 1BW

If you want to make an informed move in the property market, we are the South West London estate agents you can trust.

Record figures in UK property market

According to figures published by the Office for National Statistics (ONS), average property prices in the United Kingdom, and for England, reached record levels in December 2021. The average price of property at the end of last year was £275,000. This was a record level, and it rose by £27,000 across the year.

For the UK as a whole, residential property price increased by 10.8% over the year to December 2021. For November 2021, the increase was 10.7%

In England, there was an increase of 10.7% for property prices for the year to December 2021. This is an increase on the 10.5% rise which occurred for the year to November 2021. Average house prices in England stood at £293,000 at the end of 2021.

How is London housing market faring at start of 2022?

Of course, the London housing market can arguably standalone from the rest of England or the UK. At the end of February, Rightmove described the London housing market as such;

Properties in London had an overall average price of £671,644 over the last year.

The majority of sales in London during the last year were flats, selling for an average price of £527,116. Terraced properties sold for an average of £741,936, with semi-detached properties fetching £733,290.

Overall, sold prices in London over the last year were similar to the previous year and 7% up on the 2019 peak of £628,961.”

As has long been the case, the average price in London is more than double the average price for the UK or England!

With respect to South West London, Rightmove says;

South West London, with an overall average price of £790,622 was more expensive than nearby South London (£588,537), but was cheaper than West London (£1,213,660) and Central London (£1,501,309)”

What are industry experts saying?

Jason Tebb, CEO of OnTheMarket, said: “Although this index is somewhat historic, it confirms what the market was witnessing as the year drew to an end – high levels of demand from buyers, combined with limited stock, further pushing up prices. If more interest now is how the housing market is faring as we head towards what is traditionally the busy spring period. While instruction numbers are increasing, the number of available properties is still some way short of meeting pent-up buyer demand. Sellers coming to market now may well find considerable competition for their home from the many motivated buyers keen to move and take advantage of competitive mortgage deals.”

Chris Hodgkinson, is the managing director of property investment specialists HBB Solutions, and he said: “We’re yet to see a let up in the torrential downpour of homebuyer demand that has washed over the property market pretty much since the start of the pandemic. As a result, those looking to sell are achieving a very good price which is driving property values ever higher. Current market conditions are so strong that even when transactions are falling through, sellers are securing another buyer immediately and for a higher price than they had agreed during their original sale. This won’t last forever though and those entering the market this year should tread with a little more caution. Although demand levels are likely to remain robust, buyers will start to feel the pinch caused by an increase in both the cost of living and borrowing. So sellers who persist with unrealistic asking price expectations will struggle to see them met.

Contact Holmes Estate Agents for all your South West London housing needs in 2022

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.

020 7223 3837
108 Streatham High Road, London, SW16 1BW
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