Camberwell: Terraced Properties A Hit In Past Decade
24th January 2020 posted in Sellers Buyers
While there are many reasons to love property in Camberwell, for many people, the aesthetic charm of the houses is a crucial factor. There is a wide range of property types on offer in the local area, which is useful for bringing a more comprehensive range of people and households to the Camberwell property market.
According to Zoopla, the most common property type for sales in the past year were flats, but terraced properties aren’t too far behind. There is a lot to be said for the charm and style of terraced properties, and Camberwell has plenty that catches the eye and makes people wish they lived in this style of home.
Terraced properties have been very popular with buyers
When it comes to property prices over the past ten years, it appears as though terraced properties have been popular with buyers. In a study carried out by Proportunity, a start-up company which offers Help To Buy style equity loans for first-time buyers, terraced properties experienced the fastest property price growth in the 2010s.
The company found terraced properties experienced a growth of 5.07% a year between 2010 and 2019. Flats increased by an average of 4.93% a year, semi-detached homes increased by 4.33% on an annual basis, while detached properties increased by 3.06% a year.
Terraced properties have a lot to offer
When you consider the effect of the aftermath of the financial crisis and uncertainty surrounded by Brexit, this is a definite increase for terraced properties. With new-build homes smaller than what they were a few decades ago, many buyers are opting for a property which is better suited to their needs. There is a charm and character to these homes, but terraced properties are highly functional too; which is why there has been considerable demand for these homes.
Vadim Toader is the Chief Executive of Proportunity, and he said: “The 2010s were marked by the after-effects of the financial crisis and then by Brexit uncertainty. Despite these headwinds, we have largely seen growth across the board, but the clear winner is terraced housing, or more specifically terraced homes in London, with buyers likely to be attracted to their historic characteristic and charm, as well as their more limited supply compared to new builds.”
However, it may be that while these properties are popular, they could be out of reach for the average first-time buyer. Toader continued by saying; “Yet, despite their popularity, they are out of reach for many first-time buyers in the capital, with Help to Buy restricted to new-builds only, which are typically flats or semi-detached or detached houses.”
If you are planning on making a move in or around Camberwell, we are here to help. We can arrange a property valuation if you intend on selling your home, and if you wish to see the very best homes in the local area, we can help. When you need assistance in making a move in 2020, contact Hunters Camberwell, and we will be more than happy to assist you.