At Hunters Forest Hill, we are delighted to say we have worked closely with many homeowners, buyers and vendors in and around Forest Hill. While the past year has been challenging, it has been a busy one in the housing market.
Also, while the media have presented many stories about people leaving London in huge numbers, we don’t believe this is the full story.
What is your next housing move going to be?
While there have been people looking to leave the capital, and even Forest Hill, there are many people looking to move into the area. We believe Forest Hill has a lot to offer, and it provides a better balance of life than many parts of Inner London.
As work-based flexibility grows, it is natural that many households will look to move to an area that is a better fit for them. With some people, this means leaving London, but for others, it means switching to family friendly areas like Forest Hill.
Dataloft present the following highlights, drawn from a range of sources:
- Housing market momentum has been maintained following the original stamp duty deadline in March 2021. The Dataloft Demand Index shows a 26% increase in housing market demand since the start of 2021.
- An estimated 117,860 transactions completed in April 2021, 21% higher than the April 2014 to 2019 average. 86,921 mortgages were approved in April, 30% higher than April 2014 to 2019.
- According to Zoopla, the number of homes for sale is down -21% (YTD vs 2020 average), causing an imbalance between supply and demand.
- The imbalance is putting upward pressure on prices, with a 10.9% annual increase reported in May, the highest level since August 2014.
Choose the local agents who are here to help you
If you are looking to purchase property in or around Forest Hill, it is best to call on the local experts for help. We are pleased to say we have assisted many local buyers and vendors, and we aim to bring people together.
According to Rightmove, as of the end of June 2021, the Forest Hill housing market can be described as such:
“Properties in Forest Hill had an overall average price of £577,627 over the last year.
The majority of sales in Forest Hill during the last year were flats, selling for an average price of £395,719. Terraced properties sold for an average of £693,009, with semi-detached properties fetching £957,682.
Overall, sold prices in Forest Hill over the last year were 11% up on the previous year and 6% up on the 2017 peak of £545,838.”
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.