Edgware Property Market Sees An Unpredicted Autumn Boost of 38%

Well, it doesn’t seem like two minutes ago that it was Christmas – and now it’s all over! One cold December morning, after arranging the office’s Christmas cards I thought I would nip out for a quick festive coffee and over-priced mince pie at my favourite local coffee shop Coffee Affair.  I met an old client of mine in the coffee shop and we got talking about the Edgware property market. I had just completed my research for my next blog article and I would like to share with you the parts of the conversation relating to the Edgware property market.

He asked me what my thoughts were about the last half of the year in regard to the Edgware property market and if there were any great buy to let deals around. In reply I said that, in my view, shrugging off the uncertainty of the initial post Brexit vote, I h
ave seen an increase in supply and a rise in the number of properties selling at the lower to middle end of the market, meaning both first time buyers and buy to let landlords have been returning in the last few months – proof the market is beginning to bounce back.

So let’s look at the numbers ..

In November 2016, according to the three main property portals (Rightmove, Zoopla and OnTheMarket) there were a total of 395 properties for sale in Edgware (within 1 mile of the centre of Edgware to be exact). I
n November 2015, there were only 286 properties for sale, a rise of 38%.

 

When I split it down into bedrooms (note things like building plots and part commercial/part residential etc won’t be in these figures so the numbers below wont exactly match up to those in the above paragraph).

# Properties on the market in Nov 2015 # Properties on the market in Nov 2016 Per cent Change
5+ Bedrooms 29 50 +72%
4 Bedrooms 52 72 +38%
3 Bedrooms 69 120 +74%
2 Bedrooms 92 118 +28%
1 Bedroom 37 27 -27%

.. and when I looked at type of properties  .. it got even more interesting

Type of Property # Properties on the market in Nov 2015 # Properties on the market in Nov 2016 Per cent Change
Detached 37 67 +81%
Semi 83 112 +35%
Terraced 18 54 +200%
Flat 141 154 +9%

As the number of Edgware properties put up for sale has soared by 38%, homeowners have become more realistic about how much their homes are worth. This increase in homeowners wanting to sell suggests there is renewed confidence in the Edgware property market and there are also signs that people are being more realistic about pricing their property.

As you can see, there has been quite an uplift in semi-detached and a significant uplift in terraced properties, which means there is greater choice for first time buyers and landlords. So with a combination of realistic pricing and more properties on the market – both first time buyers and landlords alike might be able to pick up a few bargains!  One place for great Edgware Buy to let deals is my blog where, irrespective of which agent is selling the property, I publish what I consider is the very best buy to let deal in Edgware

If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Edgware Property Market together with regular postings on what I consider the best buy to let deals in Edgware, out of the many of properties on the market, irrespective of which agent is selling it, then feel free to get in touch! email me on Steve@benjaminstevens.co.uk

If you are in the area feel free to pop into the office we are based at 194 Station Road Edgware Middlesex HA8 7AT– the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Edgware Property News.

Blog – http://www.benjaminstevens.co.uk/edgware-property-blog

Facebook – https://www.facebook.com/BenjaminStevensEstateAgents

Twitter – https://twitter.com/BenjamStevensEA

Website – http://www.benjaminstevens.co.uk

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