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How much could your East London property be worth?

 

"How much could your East London property be worth?"

Let's face it, house prices and property are a bit of a national obsession. 
When it comes to homes, our natural nosiness shines through and we're keen to find out how much everyone's property is worth and what the Johnsons at number 32's living room looks like. 

Thanks to the advent of the internet, we're now able to do this – property portals and data websites allow us to see how much houses down our street have sold for and the insides of our neighbours' homes from the comfort of our own.

In the last few years, house prices in the UK have really gone from strength to strength, particularly in areas like East London. 

Many owners in locations like Stratford and Docklands who've sold up in recent times have benefitted from this high price appreciation. In many cases, this has allowed them to upsize or buy the home of their dreams.

Here's why you could be next...

The current market

The London market is still motoring along nicely. At this time of year, we have to take into account the summer holiday season so the odd lull is expected. 

That said, strong price growth and activity levels continue to be driven by a lack of supply, high demand and favourable mortgage borrowing conditions. 

If you look at Rightmove's latest figures, it's clear that property price growth has remained strong in the last 12 months. The property website reports that the average asking price of a property in Greater London is now £635,710, some 3.3% higher than a year ago. 

What's more, according to home.co.uk, property price growth in East London has continued its upward trajectory. 

In our corner of the capital, flats remain a highly sought-after property type. For example, the average asking price for a flat in Leyton has increased by an impressive 19% since July 2015. 

Average asking prices for all property types in Walthamstow, meanwhile, have increased by 19% in the last year to almost £520,000.  

What about Brexit?

There's been a lot of speculation about how last month's referendum is affecting the property market. 

According to Rightmove, progress is steady and any dips in activity are more likely to be down to the summer holiday period, rather than Brexit.

In fact, the average time for a property to sell is actually significantly lower now than it was in January. 

Despite some political and economic uncertainty surrounding Brtiain's exit from the EU, it's been business as usual for most in the London property market.

The capital's appeal and status as one of the best cites in the world means people are still deciding to move here every day, something which is keeping the property market in good shape.

If anything, the property shortage means those that who do decide to sell soon will benefit from high demand from buyers and therefore increase their chances of selling for their asking price or above.

So, how much could your home be worth?

With all this house price growth in the last few years, you must now be itching to find out how much your property could be worth. Luckily for you, you can find out by gaining a free instant online valuation. 

All you have to do is fill out your details and we'll be able to provide you with an idea of how much your home could be worth in the current market. 

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