Information provided by Zoopla suggests that average house prices are 30% higher than the market peak of 2007, with the demand for homes creating a situation which means people are paying more and more to buy their ideal home.
The same source states the average value of property in the UK has reached £230,700; which is the figure that is 30% above the market peak in 2007.
According to Rightmove, the Crowthorne market is buoyant, as they said; “Overall, sold prices in Crowthorne over the last year were 20% up on the previous year and 3% up on the 2017 peak of £506,696.”
There are many reasons for people to move home
It is not as if we need to outline the measures and factors that have led to people being so active in the housing market in the past year. The stamp duty holiday has provided considerable impetus to the market, but you also need to take on board remote working, people looking for more space, and all the personal reasons people have for moving home in these challenging times.
There is a lot to be said for the people who have left the capital, but it is not as simple as saying as people want to get out of London. Many of these movers may have bought a new home in a different location because of family reasons, for work or to enjoy more freedom.
With Crowthorne being over 40 miles from London, it is the sort of location that people are considering right now. It is far away from London to feel like a different world, there is an opportunity to enjoy more greenery and a more sedate pace of life.
Crowthorne is well connected to the capital
However, it is not as if Crowthorne is detached from the capital. It is possible to travel from Crowthorne to Paddington Station in less than an hour. There are many people living in London who cannot make it to Paddington Station in less than an hour from their home, so if you still want to be connected to the heart of London, you have the chance to do so while no longer living there!
Gráinne Gilmore is the head of research at Zoopla, and she said; “Demand is moderating from record high levels earlier in the year, but remains significantly up from typical levels, signalling that above average activity levels will continue in the coming months. London has a two-speed market at present, with domestic demand driving price growth in the outer boroughs, while the lack of international business and leisure travel is affecting demand in the more global real estate markets towards the centre of London.”
Gráinne concluded by saying; “As COVID-19 progresses at different rates across the world, unrestricted travel may not resume for some time yet, but when it does, demand will start to pick up once more.”
If you have any housing market questions or queries, please feel free to contact us. If you plan on selling your home, we recommend arranging a property valuation to ensure you make an informed decision. At Frank Schippers, we are here to support you in this trying time, and you can call us on 01344 777 888.
