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Was there ever a housing bubble in East London?

If you have been thinking about buying a property for sale in east London but have been holding off due to a 'housing bubble', now may be the time to revise your thinking. Here at Winkworth we use our historical data, local knowledge and expert analytics to advise our clients, rather than let people form opinions based on what is published in the national media. The latest figures from Hometrack suggest that house price rises are levelling off, with only 7% of buyers are prepared to pay over the asking price. Rightmove add that its own research indicates "the market in general is a very long way from overheating". Although these are generalisations taken at a national level, they illustrate how sensationalised stories can appear in newspapers when the actual reality is very different. While national trends can be marginally indicative, anyone looking to buy a flat or house for sale in east London should concern themselves with what is happening at a local level, rather than be swayed by press headlines. Winkworth estate agents strongly believe that property 'microclimates' exist all over the capital city, with each part of London, every postcode and even single streets possessing their own market conditions fuelled purely by local supply and demand. Only an estate agent working in the local environment can meaningfully comment on their own housing market, as there are many nuances and individual factors not seen at a national level. Flats and houses for sale in east London will only be successfully sold if there is an audience willing to buy them. Even then, much depends on what a person is willing to pay for that property and how many people are interested. Since east London secured the hosting rights for the 2012 Olympics, the appetite for houses and flats for sale in east London has been strong, and has continued way beyond the event thanks to local area improvements and increased opportunities. When you combine that with an aging and increasing population, it's clear that demand for property for sale in east London is justified. However, this demand may be tempered by the effects of the Mortgage Market Review, which has resulted in a more stringent mortgage application process, and the mere hearsay of a potential interest rate rise. Winkworth east London estate agents agree that the property market should never be considered as a whole. Across east London we focus on what the local market needs. We advise our clients that any move should be affordable within their own personal circumstances and to think of a property as a place to live, rather a vehicle with which to make money. We are lucky that home moving across east London is fluid. Property for sale in Hackney, Shoreditch and the surrounding postcodes is swift and we are achieving great sale prices for our clients. Affordability is very individual but we feel there are enough measures in place and influences from organisations like the Bank of England to temper any heat in the market.

If you have been thinking about buying a property for sale in east London but have been holding off due to a 'housing bubble', now may be the time to revise your thinking. Here at Winkworth we use our historical data, local knowledge and expert analytics to advise our clients, rather than let people form opinions based on what is published in the national media.

The latest figures from Hometrack suggest that house price rises are levelling off, with only 7% of buyers are prepared to pay over the asking price. Rightmove add that its own research indicates "the market in general is a very long way from overheating". Although these are generalisations taken at a national level, they illustrate how sensationalised stories can appear in newspapers when the actual reality is very different. While national trends can be marginally indicative, anyone looking to buy a flat or house for sale in east London should concern themselves with what is happening at a local level, rather than be swayed by press headlines.

Winkworth estate agents strongly believe that property 'microclimates' exist all over the capital city, with each part of London, every postcode and even single streets possessing their own market conditions fuelled purely by local supply and demand. Only an estate agent working in the local environment can meaningfully comment on their own housing market, as there are many nuances and individual factors not seen at a national level.

Flats and houses for sale in east London will only be successfully sold if there is an audience willing to buy them. Even then, much depends on what a person is willing to pay for that property and how many people are interested.

Since east London secured the hosting rights for the 2012 Olympics, the appetite for houses and flats for sale in east London has been strong, and has continued way beyond the event thanks to local area improvements and increased opportunities. When you combine that with an aging and increasing population, it's clear that demand for property for sale in east London is justified. However, this demand may be tempered by the effects of the Mortgage Market Review, which has resulted in a more stringent mortgage application process, and the mere hearsay of a potential interest rate rise.

Winkworth east London estate agents agree that the property market should never be considered as a whole. Across east London we focus on what the local market needs. We advise our clients that any move should be affordable within their own personal circumstances and to think of a property as a place to live, rather a vehicle with which to make money. We are lucky that home moving across east London is fluid. Property for sale in Hackney, Shoreditch and the surrounding postcodes is swift and we are achieving great sale prices for our clients. Affordability is very individual but we feel there are enough measures in place and influences from organisations like the Bank of England to temper any heat in the market.

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