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As one year ends and another begins, I thought I’d take a look at what’s happened in the E14 market over the last 12 months, and what a year it has been! It’s true that something of a ‘cold front’ has been moving across most of the country, but the strong fundamentals which underpin the E14 market mean that we’re well placed to weather any storm.

Using simple unweighted averages, the price of a home in E14 is now £504,800, which is 18.1 per cent more affordable than the regional average. Over the last 12 months this has risen by 3.1 per cent compared with a rise of 5.2 per cent in the region as a whole, so the area has underperformed the market in that sense. Since 2000, the average level of house price growth has been 8.3 per cent per year.

There were 1,152 sales in our area in the last year, compared with 2,772 in the 12 months which preceded it. Comparisons with 2016 need to be handled with care because of the big spike in sales before the stamp duty rise in April. The most common type of property to change hands were flats which accounted for 96.2 per cent of all sales.

Given the natural advantages the E14 property market has, we’re expecting 2018 to be a tremendous year for everyone involved in the housing market - buyers, sellers, landlords and renters alike. If you’re in any of those categories and want some advice on how best to make the property market work for you, please give me a call and I can give you a more complete lowdown on what I expect in 2018. 

Thanks for reading this blog and I hope you have enjoyed reading my thoughts and observations on the Docklands and Canary Wharf property market in 2017.

You can email me HERE if you have any questions relating to property.

Kind regards

Spencer Fortag

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