If you want to look forward in the housing market, you need to know where to look back. Predicting what is going to happen in the future is difficult, and sometimes impossible, but by looking back at what has happened before, and considering the conditions of the market, you are more likely to make an informed decision.
Of course, that is all well and good in theory, but when you have the circumstances, we face in 2020, that isn’t quite the case. In years to come, people looking at housing market figures for 2020 will see a massive drop-off. This will be well explained, and it is not as though people won’t know of the COVID-19 pandemic, but it will make explaining one-year, five-year and ten-year figures more challenging.
When you consider there was a level of optimism surrounding the housing market at the end of 2019 and the start of 2020, it is fair to say most people never expected the figures at the beginning of summer to be what they are.
We keep you informed of how the Forest Hill market is faring
At Hunters Forest Hill, we aim to stay in touch with what is happening in the market, even if not a lot is taking place. If you are looking for information on Forest Hill property transactions pre-lockdown, this page will provide you with what you are looking for.
According to Dataloft figures, in the SE23 postcode, there were 33 sales in January, 32 sales in February and just the six sales in March. The COVID-19 pandemic impacts the March figures, and even though the lockdown didn’t start until we were a good bit through the month, there was a building sense of apprehension in the market.
For the sake of contrast, the figures for 2019 are as follows. In January there were 44 sales, in February there were 24 sales and in March, there 30 sales.
January 2019 was a more robust month than January 2020, but you will see February 2020 was a more competitive month than the same month the previous year.
There have been expensive and affordable purchases in SE23
There have been notable sales in Forest Hill over the past six months
When people look at the property market, it is natural to be drawn to significant prices. Since December 2019, there have been some notable sales in the SE23 postcode, but there have also been affordable options.
If you are looking for the top of the range sales, a detached property in Canonbie Road sold for £1,172,750. There was also the sale of a semi-detached property in Lowther Hill for £1,135,000.
However, just a few streets away in Codrington Hill, a semi-detached property sold for £420,000; so there is a lot of diversity in Forest Hill.
Buyers looking for a property at the more affordable end of the market will find options such as a terraced property in Inglemere Rad which sold for £271,350 and a flat/apartment in Eliot Bank which sold for £260,000.
There was also a flat/apartment sold in Dartmouth Road for just £237,500.
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.