London sales market March to May 2021
We are focusing on 4 specific areas :
West Kensington (W14),
Chelsea : West Brompton (SW10) + Earl’s Court (SW5)
and Fulham & Parsons Green (SW6)
79,9% of properties takes more than 3 month to be sold
There is a big boom of house prices in England.
« The total value of homes sold in the UK is expected to reach £461 billion in 2021, a jump of 46% since 2020 ». In May, the Office for National Statistics said average UK house prices in March had increased by 10.2% – the highest annual growth rate since August 2007, before the financial crisis hit.
Source: The Guardian 26/05/2021
During the pandemic 2020/2021 a lots of people try to renovate their homes with home improvments and it increases the price of the houses. « with Heal’s reporting 69 per cent of Britain’s households had spent up to £5,000 on home improvment during the pandemic.»
Source: Evening Standard 01 / 05 / 2021
Regarding Brexit, from the 30 of June 2021, Europeans who used to work in London for temporary work will need a seasonal visa according to the government website. Maybe they will be less numerous to come back. They will therefore probably rent less flats and it will affect more the letting market. Source: gov.uk
Another issue appears here with the new visa for internship, it causes disfunction to company who hired intern with a sponsorship certificate now required as Augustin and Marie from France and REMAX London Central.
Local Expert and Leader in Fulham & Chelsea
Fulham reach , Faulkner House, London W6 9AE, England