Monday's Property Market Review 29th June 2015
28th June 2015
28th June 2015
Anthony Webb reveal why now could be the perfect time to sell your property
 The local property market is active, buoyant and experiencing record-breaking prices.
 With this year’s General Election firmly behind us, buyers are able to plan their finances with security and peace of mind. Many buyers are in a strong position with large deposits or looking to make a cash purchase
 Our extensive local knowledge and accurate market appraisals mean that over the last year Anthony Webb achieved 97.6% of our asking prices
 In London, the average time from instruction to agreed sale is currently under three weeks.
 With the market rising as it is right now, buyers are making quicker judgments in a desire not to be left behind.
 The value-gap between London property and country property is at its widest ever; now might be the best time to exploit the divide.
 Many buyers looking to purchase locally are up-sizing in terms of space and down-sizing in terms of budget from properties in Muswell Hill & Crouch End. With an extensive range of properties available in Palmers Green & Southagte including luxury new build apartments and period conversions to Edwardian and Georgian houses it is always a popular choice with professionals and those with families.
Please contact a member of our team for free advice or a free market appraisal of your home on 020 8882 7888
Slump in supply of properties available to rent
The supply of available rental property has fallen, says ARLA. It says the number of rental properties available per branch in May dipped 7% to the lowest level this year.According to ARLA, there were just 179 properties managed per branch last month – and an average of 134 in London.
While supply dipped, demand remained the same, with 36 potential tenants registered per branch in May.One third of ARLA agents also reported rent increases last month.
This figure has been slowly creeping up from the start of the year, when 27% of agents reported hikes for tenants.
Tenants in the south west were the most affected by monthly rent increases, with just under half (49%) of agents reporting an increase. Three quarters (76%) of ARLA member agents nationally, predict that rents will continue to rise over the next five years.
David Cox, ARLA managing director, said: “It is worrying to see that there such a sharp decrease in supply, when we know there is already a struggle to meet housing needs.
Four new housing zones for London to add 12,000 new homes - including Enfield
The Mayor of London has announced a further four Housing Zones across London, accelerating efforts to deliver the new housing that the rapidly expanding city needs.
The new zones in the boroughs of Havering, Enfield, Redbridge and Tower Hamlets will together deliver over 12,000 new homes, nearly 3,500 of which will be affordable housing.
This will bring the number of Housing Zones announced to 15 with a total of 45,109 homes created, 14,055 of them affordable.
A total of £162 million in funding will be contributed by the Mayor to the new Housing Zones as are a collaborative effort between the Greater London Authority, the government and local boroughs to streamline approval processes and fast track development in areas where it may not otherwise happen.
Included in the new Housing Zones will be two brand new rail stations, a large new park, new primary schools, and new retail and entertainment precincts. They will revitalise currently disused brownfield sites and turn them into neighbourhoods where Londoners will work, live and visit.
‘Housing Zones will provide the swift delivery of new homes for Londoners that is so desperately needed and create entirely new, highly connected urban districts for generations to come,’ said the Mayor of London Boris Johnson.
‘By freeing up empty brownfield sites from lengthy approval processes and providing a funding boost, we can ensure new housing capacity is created in areas where it might never otherwise have happened,’ he explained, adding that the four new zones brings the project within touching distance of the 50,000 new homes target.
Rainham and Beam Park Housing Zone in the borough of Havering is one of the biggest development sites at 12 square kilometres, and will include the new Beam Park rail station with 20 minute access into the heart of London.
The Housing Zone will include the Beam Park site recently released by the Mayor for development, the largest slab of land that had been in the Mayor's portfolio. The council plans on creating a new garden suburb from former industrial land with 3,457 new homes, 941 of them affordable.
‘This is incredibly exciting news for the residents in Rainham, and the Borough as a whole. The changes this funding will allow us to implement will have a lasting positive impact on their lives,’ said Havering council leader Roger Ramsey.
Meridian Water Housing Zone in the borough of Enfield will build 3,650 new homes in a development designed to complement the riverside canal district it is situated on, of which 1,460 be affordable.
The Housing Zone will contribute to the development of Meridian Water station, currently Angel Road station, which will have four trains an hour running into central London by March 2018 under the Stratford to Angel Road rail scheme. In early June a procurement process was launched to secure a master developer for the project.
The Ilford Town Centre Housing Zone in the borough of Redbridge will capitalise on the arrival of Crossrail to the area by building 2,189 new homes, 553 of which will be affordable. Up to 4,000 construction jobs are estimated to be created during the build process and 150 apprenticeships.
Poplar Riverside Housing Zone in the borough of Tower Hamlets will initially provide 3,034 new homes and 448 affordable homes over its two phases with capacity to almost double the number of new homes over the life of the zone. Poplar Riverside Housing Zone in the borough of Tower Hamlets in one of the most diverse and highest density areas of London.
Located within the London Plan Lower Lea Valley Opportunity Area, the Housing Zone will deliver 3,000 new jobs, two new primary schools, a local park and four new footbridges over the River Lea. Work has already started with the regeneration of the Aberfeldy Estate.
The new zones will bring closer the Mayor's London Plan target of building nearly half a million homes over the next 10 years. Up to 20 Housing Zones across London will be announced, and options are being explored to expand the scheme. It aims to deliver 50,000 new homes and over 100,000 new jobs in the next decade.