Be prepared to act quickly
As south London’s leading independent estate agent, Jacksons handles 2,500 property transactions every year. Starting in Balham in 1995 and expanding into a second home in Balham, Clapham, Earlsfield, Streatham, Tooting and Wandsworth, the team offers unrivalled local coverage and market experience across their network of seven offices.
‘Despite interest rates rising and the cost of living increasing as well as house prices creeping up, it hasn’t deterred buyers from moving. This is one of the busiest markets I’ve worked in for 15 years, ' says Helen Cerpnjak at Jacksons. ‘Compared to last year, demand is currently outweighing supply which is only driving up prices. Many properties are going under offer within days of coming to the market and are achieving the asking price or in excess of. The types of people looking to buy in south London have remained the same for many years and include first time buyers, young professionals and plenty of families. South London is an exciting place to live and offers excellent schools and transport links, an abundance of open green space and a wide choice of bars and restaurants. There’s never been a better time to sell your property, demand from buyers continues to increase and we are achieving great prices for our sellers. Buyers should be prepared to act quickly if they see something they like. With interest rates, rent and house prices all due to increase, waiting in this market could be detrimental to buyers who may end up paying more later on. As we head into the summer months we expect prices to continue to rise as more buyers compete to secure a home and we don’t anticipate the market to slow down.’
‘We’re currently experiencing a buoyant market with many properties receiving multiple offers and are often exceeding their asking price,’ says Kelly Everard at Jacksons. ‘The demand for rental properties is incredibly high, so landlords are finding high quality tenants willing to secure a long term tenancy agreement which benefits both landlord and tenant. We always advise landlords to invest in their properties such as redecorating every few years as this can result in a good return on your investment. In such a competitive market, tenants need to be able to make quick decisions and move fast or risk the chance of missing out. As we head into the summer months, I expect the market to remain strong and for demand to continue to increase.’
If you would like an update on the local market, or if you are considering selling or letting, please contact your local Jacksons office where our team will be happy to help.