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North London property market - what might happen next?

The election is over and buyers of property for sale in north London might be wondering what to expect from the local market over the forthcoming months. There are a number of factors to consider and a couple of reports to digest to get a clearer picture, say north London estate agents. Here at Winkworth we noticed a lull in activity before of the general election as buyers adopted a 'watch and wait' approach. Activity has, however, markedly increased since the definitive result. There is increased in movement at the top end - no doubt thanks to the threat of a mansion tax being lifted - with houses for sale in north London above £2 million coming to market more freely and also generating more buyer enquiries Not everywhere, however, saw prices suffer ahead of the election. Pre-voting conditions were cited by the Royal Institution of Chartered Surveyors for a 10-month high price spike concerning prime properties in London during April 2015. The organisation said this rise was a direct result of a general feeling of uncertainty ahead of the election outcome, limited the number of prime and ultra prime properties available to purchase. A separate survey also showed that demand for prime properties for sale in London's hotspots was up 6% since February this year. Sellers of houses and flats for sale in Islington, north London, should note that one of the biggest increases in demand has been in their area, according to an online property source. Demand was reported to be up 30% in Islington, in a category that looked at homes selling for more than £2 million, far outpacing other prime areas such as Knightsbridge, Mayfair and Chelsea. Winkworth is sure north London's property market will see further uplift in the coming months, as this research was conducted using pre-election data and with the prospect of a mansion tax still circulating. Speaking of London house prices, a third piece of research also caught Winkworth's eye. Oxford Economics has forecasted that the capital's house prices could double in the next 15 years, rising to an average of £1 million by 2030. It points to a lack of house building and London's rising population (that could top 11 million in the coming years) as the driving reasons behind its thinking. Oxford Economics suggested its estimate was using cautious assumptions, although the forecasted average house price could change if the rate of house building was addressed. If you would like to know more about the north London property market - whether you're thinking of selling your home or are interested in properties for sale in north London - contact Winkworth today.

The election is over and buyers of property for sale in north London might be wondering what to expect from the local market over the forthcoming months. There are a number of factors to consider and a couple of reports to digest to get a clearer picture, say north London estate agents.

Here at Winkworth we noticed a lull in activity before of the general election as buyers adopted a 'watch and wait' approach. Activity has, however, markedly increased since the definitive result. There is increased in movement at the top end - no doubt thanks to the threat of a mansion tax being lifted - with houses for sale in north London above £2 million coming to market more freely and also generating more buyer enquiries

Not everywhere, however, saw prices suffer ahead of the election. Pre-voting conditions were cited by the Royal Institution of Chartered Surveyors for a 10-month high price spike concerning prime properties in London during April 2015. The organisation said this rise was a direct result of a general feeling of uncertainty ahead of the election outcome, limited the number of prime and ultra prime properties available to purchase.

A separate survey also showed that demand for prime properties for sale in London's hotspots was up 6% since February this year. Sellers of houses and flats for sale in Islington, north London, should note that one of the biggest increases in demand has been in their area, according to an online property source. Demand was reported to be up 30% in Islington, in a category that looked at homes selling for more than £2 million, far outpacing other prime areas such as Knightsbridge, Mayfair and Chelsea. Winkworth is sure north London's property market will see further uplift in the coming months, as this research was conducted using pre-election data and with the prospect of a mansion tax still circulating.

Speaking of London house prices, a third piece of research also caught Winkworth's eye. Oxford Economics has forecasted that the capital's house prices could double in the next 15 years, rising to an average of £1 million by 2030. It points to a lack of house building and London's rising population (that could top 11 million in the coming years) as the driving reasons behind its thinking. Oxford Economics suggested its estimate was using cautious assumptions, although the forecasted average house price could change if the rate of house building was addressed.

If you would like to know more about the north London property market - whether you're thinking of selling your home or are interested in properties for sale in north London - contact Winkworth today.

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