My thoughts on the sales market in the London Borough of Camden, Westminster and Islington...
The last 16 months has been extremely uncertain for the property market in the U.K and I've found myself having several conversations with landlords and vendors on whether the property market is slowing down and if right now is a good time to sell. I know this can be sometimes confusing with so much in the media and to answer this question we need to look at each area in isolation as some neighbourhoods can perform better than others.
Based on the Lonres 3rd quarter report (premier data source and network for top property professionals who do business in London) there has been an average discount of initial asking price of around 9/10% in the areas we focus on. Now you can call me an optimist but taking into account that the media predicted last year that Brexit would cause the worse property crash since 2008 I think we are doing pretty well. My advice to home owners and landlords who are intending to sell in the short term is to do your research , invite a professional agent for an appraisal , and most importantly price your property to sell in the current market. Historically there are more buyers in spring, however, I would ask whether you prefer to sell in an overcrowded market or stand out amongst a few in an Autumn market where you can still find many motivated buyers.
On that note, here’s a quote from arguably the Best known as the author of Rich Dad Poor Dad—the #1 personal finance book of all time—Robert Kiyosaki
No one achieves great things by following the crowd. Have a spine. Strike your own path!