London and UK Property Market – 2013

The UK property market remains very steady. The Budget, from a property point of view, was largely neutral.

The biggest impact on value is inflation, which many believe to be considerably higher than the measures used by the Bank of England.  A rise or fall of a few percentage points in property should be put into context against inflation at 7-8%.

From a buyers point of view, vendors have absolutely no excuses for asking excessive prices now. Vendors, please, please, please no more silly asking prices. If you have had your house on the market for a while and nobody is even coming to have a look at it, you have got to face up to the fact that it is probably over-valued. Speak to your local agents. Trust their judgement as to what price your property will sell at.

However, there is not alot of property available, and competition for limited good stock can be fierce both in London and the Country.   But buyers should not be over-enthusiastic – paying over the odds should only be considered on the very best in class. Lower down the market, sellers are starting to outstrip applicants and buyers.  However, finally, a trickle of the Quantative Easing cash seems to be making it’s way through – buyers are finding it a little easier to secure mortgages with reasonable rates and terms.

There is a real divide between London and the rest of the country. London will see continued foreign investment from different sources and at different scales, so well may be wider than just Prime Central.  As we have forecast, internal domestic intra-London activity is strengthening with strong demand building for family homes and flats in the residential areas of London – the Nappy Valleys of SW London are seeing properties at all levels selling fast.

We are seeing continued activity in the Country. There is money from property sales coming out of London and making it’s way into the Country – and we expect an increase in Londoners cashing in on good London prices and moving to the country over 2013. As usual, the M3/M4/M40 corridors and the West Country are strong. We see no dwindling in demand for quality Country property.

The property market is about people, and people have to move house – there are now over 3 million properties that might have been expected to change hands over the last 4 or 5 years, which haven’t. Mainly because they haven’t come to the market.

A great many houses are potentially for sale, but not on the market, and there are unlikely to be as many properties openly available for sale as people expect. However, the suspension of HIPS’s has allowed agents to go back to the time-honoured practice of ‘marketing quietly’ e.g . seeing what interest there may be in a property, without going to the expense of marketing and brochures.

The clever vendors are aggressively marketing their houses with good agents at the right price – a keen, competitive, fair and reasonable price. Our advice to sellers would be – ‘be realistic’. There is little point in hanging out for top price – you won’t get get it – you will wait and wait – and wait.

If you are selling and buying, start looking for your new home the moment your current property goes on the market. Proactively seek out what you want and, when you find it, negotiate firmly (which may enable you to drop the price on the house you are selling).

On the assumption that most people have to buy AND sell a property, it’s a good time to be moving. And for families living in London, a generational opportunity to buy in the Country.

To hear more, contact us and our local offices.

James Greenwood

You may also be interested in

view more

UK Property Market – Post-election June 17 Comment

The great thing about property is that it transcends political cycles Comment from James Greenwood of Stacks Property Search  “If we were hoping to wake up to ‘strong and stable’, and some political and European certainty to get a sluggish property market onto its feet, it seems we have to wait a...

Spring/Summer 2017

Our message remains – ‘if you want to move, don’t hesitate, but start making arrangements to get into the market now.  There are some great properties out here at good prices.’  In our view, the uncertainties of the Brexit vote, a Trump Administration, Article 50, a potential Scottish Referendum etc. etc....

Spring ’17 Market Comment

Market Comment Spring 2017 by Property Experts Stacks Property Search Our message remains – ‘if you want to move, don’t hesitate, but start making arrangements to get into the market now.  There are some great properties out here at good prices.’ In our view, the uncertainties of the Brexit vote and a...

Are you a house-buying flibbertigibbet?

With the myriad of house styling shows, one would think that everyone was wise to the styling ticks that encourage a positive house viewing experience, but Stacks property finders come across many people who are housebuying flibbertigibbet – ie finding it difficult to commit to a property purchase because they...

Start your property search today

Call us on +44 (0) 1594 842880 or complete the form below

    Your Details

    Your property requirements:

    SoldThinking of movingOn the marketExchangingIn rented accommodationCash buyerIn need of helpOther

    We will never share your details with a third party. For more information about how we handle your data, please see our Privacy Policy

    How we can help you
    View our services

    When making probably the most important financial decision of your life, it pays to have the right advisors at your side.

    “You showed fantastic attention to detail, anticipated all eventualities, and provided timely and practical help and guidance every step of the way.  Above all, you supported me in making my own considered decisions, and I am so grateful to you for all your help in getting me to where I am now!”

    “We firmly believe that without Rachel and her skilled negotiation we would not have secured the property.”

    “We felt they genuinely wanted to help.”

    “Stacks’ performance on this assignment has been absolutely outstanding and more than met my expectations. Her understanding of the brief and the ‘after-find’ service set a standard of professionalism that I have not met before.”

    “It is not often that one is pleased to part with money but I can truthfully say that I am on this occasion. You have earned every penny of this cheque and what is more, you have done it with great courtesy and good humour. It has been very pleasant working with you. You really did take most of the stress out of our house hunting.”

    “Encouraging me to think creatively about what could work for me.”

    “Finding a plot not yet on the market and persuading the developer to enter into an exclusive contract with me to build to my specification.

    “I was impressed by the efficient, kind and courteous service provided by Stacks”

    “Stacks were a tremendous help and we would never have found our home without them. She is a lovely person with a great sense of humour which was essential during some of our tricky negotiations

    “You gave a much-valued ‘younger’ perspective on our situation, which was a real asset”

    “We found the service extremely helpful and professional at all times”

    “I have been delighted with the service I have received from Stacks and will not hesitate to recommend Stacks in the future.”

    Subscribe to our newsletter

    Receive updates about the world of property, straight to your inbox.

    * indicates required