Has there ever been a better time for Docklands home sellers?
The Docklands property market for people looking to sell is at its sturdiest for at least the last five years with home buyers jumping onto to the Docklands property ladder with abandon.
Docklands house prices are anticipated to rise upwards throughout 2021 after the stamp duty cut (and subsequent extension until the autumn) and the newly revealed 95% mortgages for Docklands first-time buyers (and Docklands homeowners with minimal equity).
Added to this the continued low interest rates, and the demand for larger homes because of lockdown, this means the Docklands property market should remain bullish for a while. There is a surge in people putting themselves on mailing lists with Docklands Estate Agents from potential buyers, making the biggest disparity between supply and demand for Docklands property for many years
Fears of a cliff edge for the Docklands housing market at the end of March have dispersed, somewhat due to the stamp duty tax deadline extension, but also because the elevated level of buyer demand caused by the three lockdowns has continued to swell since the start of 2021 meaning today
23% of Docklands properties on the market are Sold (STC)
Interesting, when utilising data from the theadvisory.co.uk website, the Docklands average for the last five years has only been 17%, meaning there has been an uplift of 35.8% in the proportion of Docklands properties sold (stc) compared to that five year average
Yet what can’t be forgotten is that 9 out 20 Docklands house sellers are also Docklands house buyers as well, so whilst they do indeed achieve a higher price for their Docklands property, they also have to pay more for the Docklands property they want to buy.
So how much will Docklands house prices rise by?
Like all things in life, it’s all about demand and supply. I have discussed about the demand, yet about the supply of properties for sale?
There are 1% fewer Docklands properties for sale
today compared to 3 years ago
Whilst February saw a lower-than-normal level of new properties coming on to the Bournemouth property market, the easing of lockdown road map and faster rollout of the vaccine is also persuading more Bournemouth homeowners (especially those older Bournemouth homeowners who have had their jabs) to start making the first steps towards moving home in 2021.
This will mean there will be more Docklands properties available for sale in the conventionally busier post Easter market in the coming weeks and months which should cause more equilibrium and help keep Docklands property prices in check.
These are interesting times for the Docklands property market. If you are a Docklands homeowner or Docklands landlord looking to buy or let your Docklands property in the coming weeks or months, don’t hesitate to drop me a line to discuss what all these points raised in article mean to you.
One place for more information is my Docklands Property Market blog. If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Docklands property market together with regular postings on what I consider the best buy to let deals in the Docklands area, then it is well worth reading. You can also email me at email@example.com
If you are in the area feel free to pop into the office which is based at Landmark Estates, 264 Westferry Road, London, E14 3AG
Don’t forget to visit the links below to view back dated deals and Docklands Property News.
Free Valuation - lmlondon.com/value-my-property
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