Market Review Second Quarter 2018
As we move into the month of June and inch closer to the end of the second quarter, I felt it important to provide my clients and potential buyers with a clear overview of the current property market. Oakwood Estate Agents has been trading from the trendy, hustle and bustle of Stoke Newington in the […]
As we move into the month of June and inch closer to the end of the second quarter, I felt it important to provide my clients and potential buyers with a clear overview of the current property market.
Oakwood Estate Agents has been trading from the trendy, hustle and bustle of Stoke Newington in the London Borough of Hackney. Our office is positioned on the popular Stoke Newington Church Street and has been providing services to the local community for over 24 years. It’s safe to say that we know a thing or two about the local and regional property market.
So what is the current state of the property market?
It is true that over the last 18 months the local market and most London postcodes have been experiencing a slowdown.
Although demand for good property still remains high, buyers are more forethoughtful and cautious, this means properties are taking slightly longer to sell. As always and more so today, having a good pricing strategy in place is key. Properties that are priced correctly will attract the right buyers, resulting in good offers and quick sales being agreed.
My personal view is that the market is showing signs of correction and will likely remain quite flat as we enter the busy summer period. Locally we are seeing an increase in activity with new listings beginning to pick up and we are finding the lower end of the market to be the most buoyant with stamp duty relief for first time buyers keeping things positive and stable.
On a separate note I’d also like to remind landlords that as part of the Energy Efficiency (Private Rented Property) Regulations 2016 from the 1st of April 2018 it will be unlawful to grant new leases of residential or commercial property with an EPC rating below an E. If you need help with improving your property’s energy efficiency rating or want an EPC carried out to establish its current rating please contact us on 0207 249 1000.
Andy Loizou – Manager
Andy has been with Oakwood for over 17 years and has a real passion for property.
Happily married with two children he has experienced purchasing property first hand and owns a family home as well as separate investment properties. Andy is in a great position to advise and assist both buyers and sellers in all aspects of the process. He can be contacted on 0207 249 1000.