At the end of October 2020, Rightmove said this about the Forest Hill property market; “Properties in Forest Hill had an overall average price of £515,218 over the last year. The majority of sales in Forest Hill during the last year were flats, selling for an average price of £373,223. Terraced properties sold for an average of £629,704, with semi-detached properties fetching £790,577. Overall, sold prices in Forest Hill over the last year were similar to the previous year and 6% down on the 2017 peak of £545,838.”
The ten poorest performing areas on the selling list have an average price of property greater than £1m. The best areas to sell property hold an average asking prices of less than £500,000.
Where are homes selling well in the UK?
The best places currently to sell a property:
1: Walthamstow, Greater London - average of 35 days on the market
2: Ashford, Kent - average of 36 days on the market
3: Sale, Greater Manchester - average of 39 days on the market
4: Rainham, Greater London - average of 42 days on the market
5: Bexley, Greater London - average of 42 days on the market
6: Brockley, Greater London - average of 43 days on the market
7: Upper Sydenham, Greater London - average of 44 days on the market
8: Bristol - average of 44 days on the market
9: Penge, Greater London - average of 45 days on the market
10: Forest Hill, Greater London - average of 45 days on the market
The typical time on market for the whole of England and Wales is currently 70 days.
As you can see, Forest Hill makes its way into the top ten places to sell a home in England and Wales, and we can help you.
If you plan on selling your Forest Hill home, get in touch. We can arrange a property valuation for you, and we can take you from start to end of the sales process. When you have a realistic property valuation, you can enter the housing market with greater confidence.
Doug Shephard, director at home.co.uk, adds: “It is highly noteworthy that, despite the COVID driven exodus from central urban areas, the more leafy suburbs of London remain highly popular with homebuyers. So too are the well-connected property-boom towns of Ashford, Bristol and Sale. However, Prime Central London is clearly not the place to sell right now. In prestigious London Boroughs such as Kensington and Chelsea and the City of Westminster a glut of ex-short-term lets has already crashed rental values and rapidly rising sales stock levels look set to drive down capital values.”
At Hunters Forest Hill, we know selling property is challenging, but we are here to assist you in the process. If you aim to buy, sell, let your home or rent property, we are active in New Cross, Peckham, Dulwich and Brockley, in addition to Forest Hill, so get in touch with one of the top three agents in London, and we will be happy to assist you.