London House Prices Tipped To Rise

At Hunters Hornchurch, we stay in touch with the local market. We are pleased to say we have helped many buyers and vendors in and arounds Hornchurch in recent weeks and months. The rest of 2020 and the opening months of 2021 are likely to be as busy in the housing market.

If you plan on selling your Hornchurch home, you should call on us. We know the local market, and we are well placed to help you value your property in a realistic manner. A realistic valuation allows you to enter the market with confidence, engage prospective buyers, and take steps to make your next move in the housing market.

If you would like to arrange a property valuation, contact Hunters Hornchurch today.

We help you make an informed decision in the Hornchurch housing market

Not only do we stay in touch with the local housing market, we pay attention to whatever professionals and experts in the industry are saying.

Recent reports suggest that house prices in London could increase 2.5% over the rest of this year. When you consider everything people, and the property market, has to deal with in 2020, this is quite a startling prediction.

There is considerable activity in the housing market

However, the report which was published by Hamptons Internal suggests there will be a “rapid recovery” in the local market which will exceed the rate of inflation and price rises across the rest of the country.

For comparison, Hamptons believe that prices will rise by 2% across the rest of the country. However, the same report suggests that things will be tougher in 2021, but longer-term, there is optimism surrounding the market.

As of the start of October 2020, Rightmove states; “Properties in Hornchurch had an overall average price of £439,740 over the last year. The majority of sales in Hornchurch during the last year were semi-detached properties, selling for an average price of £436,089. Terraced properties sold for an average of £390,712, with flats fetching £247,399. Overall, sold prices in Hornchurch over the last year were 4% up on the previous year and 1% up on the 2017 peak of £434,437.”

Speaking about the report, a spokesperson for Hamptons International said; “After seven weeks of lockdown the market began to recover quickly. The market was buoyed by pent-up demand going back to 2016 as well as a rise in the number of households making lockdown-induced lifestyle changes, all topped off by a stamp duty holiday. The real challenges won’t be felt until 2021. The economic consequences from the Covid-19-induced recession will pull the housing market from its long-term growth trajectory. In line with a gradual economic recovery, we forecast house prices to rise again in 2022 and 2023.”

If you are keen to stay in touch with the local housing market, we can help. At Hunters Hornchurch, we are on hand to ensure you receive all the guidance you need in the local property market, and we are here to assist you.