The market continues to thrive
Jacksons has been selling and letting property in the area for over 27 years and we have seven local offices all focused on delivering a great service for our clients and customers. As a result of this, we have received over 2,500 glowing reviews and have an average Google rating of 4.9 out of 5.
‘Despite the increase in interest rates and the rise of living costs, the market continues to thrive with many buyers keen to secure a new home and lock in a mortgage rate,’ says Helen Cerpnjak at Jacksons. ‘The appetite to own a home in south London remains incredibly high and buyers seem as determined as ever. Balham continues to be an exciting place to live and a popular choice for first time buyers and families as it offers convenient transport links, open green space, excellent schools and a wide range of bars and restaurants. There really is something for everyone. We’ve noticed buyers are willing to pay a premium for properties that are well finished, as a result of this we’re advising sellers to ensure their homes are being sold in the best possible conditions. Our advice to buyers is; if you’re wanting to buy your own home, don’t wait. With rents increasing, buying is often a better investment in the long run. One of our recent successes includes a seller who needed to sell their property quickly in order to secure their onward purchase. We were instructed on the house on Thursday, carried out several viewings over the course of the weekend and secured £50,000 over the asking price by the following week. The seller was overjoyed with our service. With demand still high and not enough property to satisfy it, we can't imagine we will see much of a change as we head towards the end of the year. We firmly believe we will never be short of buyers as they strive to own their own homes.’
‘Similarly to sales, demand for property is at an all-time high and we’re seeing a trend of longer-term tenancies being agreed to benefit both tenants and landlords,’ says Sam Hignell at Jacksons. ‘Typically we see a lot of young professionals moving to Streatham as it offers excellent transport links and good value for money compared to some of the surrounding areas. There are many highly regarded primary and secondary schools nearby so it’s a popular choice for families as well. Streatham Hill has historically been the most sought after part of Streatham however over recent years, with the investment around the common, the roads closer to Streatham station have grown in popularity. The market is moving at such a fast pace that we are advising landlords to be ready to secure an acceptable offer quickly. With a lack of rental properties coming available, tenants are likely to be offering on multiple properties in order to secure their next home, as many as missing out. As a result of this, tenants need to have their paperwork and finances in order ahead of viewings and ready for when an offer is agreed to show commitment to the landlord. With 2023 on the horizon, the market is showing no signs of slowing down and we expect to see this high demand continue well into the New Year.’
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.