This was the finding from a study undertaken recently and while you may be lucky enough to find a property of this price popping up, the reality is that London property prices are going to remain above the £100,000 mark, even in the most affordable prices.
Operating in Streatham, we are pleased to offer a broad range of houses, and the homes in this area offer a fantastic opportunity for buyers looking for an affordable home in London. Therefore, Streatham vendors should retain an air of optimism surrounding their chances of selling their home, but of course, it is important to be realistic about the market and accept that there are going to be challenges.
In the study, it was also found that there were only four properties which were priced at £125,000 or less. At the point of review, the most affordable property available in the English capital was a studio flat which was in Hornchurch, in the RM12 postcode area. The estate agent was looking for offers more than £100,000; a price that no doubt would have grabbed attention in London even if the property wasn’t exactly what people are looking for.
Help To Buy has been up for debate of late in the London property market
There has been considerable debate about property prices and the market of late, and of course, there has been a focus on Help To Buy. There is genuine debate as to whether the Help To Buy scheme should be extended when it comes to its scheduled end in 2021. One issue that many people have with the Help To Buy scheme is the fact that it appears to help people who are already on the property ladder and who have more money to buy property.
Shared ownership isn’t as helpful as some people would like
There has also been a realisation that many of the other schemes aimed at helping people get on the property ladder are far from ideal. There is a lot of focus on shared ownership, and if you are unable to afford to buy a property outright, many people will argue that owning some of the property is better than nothing.
However, a lot of people who got involved with the scheme have found it extremely difficult to scale up their size of ownership and not being in complete control of the property is a concern for a lot of people. Add in the debate about stamp duty and is it any wonder that many people are left confused as to what is happening in the property market.
If you’re looking to sell your home in London, it is natural that you will be concerned about buyer demand and what is on offer to prospective buyers. There may not be bargain prices in London anymore, but there are certainly prices that offer value, and at Oaks Estate Agents, we want to help you sell your home in the most effective manner, so get in touch for the best standard of support when selling your London home.