Given the price of property in London, it is easy to see why so many people are looking to move while the stamp duty holiday is in place. With the average price of property in London coming in at more than £650,000; the average price is above the stamp duty threshold.
This means buyers at this price level can save £15,000 on stamp duty fees. This is a significant saving, and it is likely that there will be a lot more movement in the London housing market over the next few months.
At Hunters Greenwich, we are pleased to say we have spoken with many prospective buyers and vendors in Greenwich recently. This is a fantastic area of London, and we know why so many people are drawn to the local area.
Greenwich offers tremendous value for money
According to Zoopla, the average price paid for property in Greenwich in the past 12 months is £593,964. This is less than the average price stated for London property, but still above the stamp duty holiday threshold, so there will be a lot of people keen to learn more about the housing market in Greenwich.
While there are many fantastic homes on offer in Greenwich, we appreciate many prospective buyers are drawn to new homes. For a lot of people, there is something to be said for entering a new house, and being the first family to call it their own.
Recent research by StripeHomes indicates there are 13 London boroughs where the price of a new build property is on the rise.
Greenwich has experienced a sharp bump since 2015. Five years ago, the average price paid for new property in Greenwich was £323,253 and in 2020, this has risen to £424,281.
What sort of property do you love in Greenwich?
This figure is significantly lower than the average price paid for property, both in London and Greenwich, but the majority of new build properties in this part of London are flats. Flats and apartments are ideal for a lot of people and households, but they aren’t suitable for everyone.
If you like what Greenwich has to offer, but you want more flexibility in selecting your next home, we are more than happy to assist you. At Hunters Greenwich, we provide you with a tailored service that ensures you find the property that is right for you.
Of course, we are more than happy to help you if you plan on selling your Greenwich home. There is a significant level of demand for property in the local area, and this has been increased because of the stamp duty holiday.
Whatever your next move in or around Greenwich is, make sure you call on a local specialist for support and guidance.
If you need any help or guidance regarding property matters, please get in touch. As your local housing market specialists, we will do what we can to ensure you make your next house move in style. Contact Hunters Greenwich today for all your housing and letting needs.