According to Rightmove at the end of October 2020, the following is an accurate appraisal of the West Hampstead housing market; “Properties in West Hampstead had an overall average price of £827,920 over the last year. The majority of sales in West Hampstead during the last year were flats, selling for an average price of £692,577. Terraced properties sold for an average of £1,331,693, with semi-detached properties fetching £1,950,000. Overall, sold prices in West Hampstead over the last year were 11% up on the previous year and 3% up on the 2016 peak of £804,032.”
This places the housing market in West Hampstead in between the areas where homes are moving quickly and slowly. According to Rightmove analysis, homes priced at £1m or more are slow to sell, while homes priced at or below £500,000 are moving quickly.
A realistic valuation helps you connect with likely buyers
Therefore, if you are looking to sell your West Hampstead home, you need additional support. Our experienced team is on hand to ensure you connect with buyers in an effective manner.
One of the most important steps you can take in selling your home is arranging a property valuation. At Hunters West Hampstead, we aim to provide you with a realistic property valuation. This allows you to enter the market with confidence, and will assist you in connecting with likely buyers.
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
Danny Luke, Quick Move Now’s managing director, commented: “Despite grave concern about how the property market would fair during the COVID pandemic, there are some very positive signs. Overall, a property in England or Wales typically now sits on the market for 41 days less than it did in March of this year. Properties in the best areas to sell are removed from the market in an average of 35 to 45 days. Back in March of this year, properties in the best areas to sell typically stayed on the market for 46 to 65 days. It is important to note, however, that stock levels are significantly lower than they were this time last year.”
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.”
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 West Hampstead today for all your housing and letting needs.