Overall, it’s been a very positive start to the year for Fulham’s property market, with many encouraging signs that buying and selling is at last bouncing back from its slump in 2018.
We have experienced a 165% increase in buyer registrations compared to the first few months of 2018, and other agents have also been reporting a significant increase. This shows that there is still a strong demand to purchase a property in Fulham despite concerns about London’s market as a whole.
Furthermore, we’ve experienced a 76% increase in the number of new instructions compared to last year as confidence begins to build again in the market. There’s no hiding from the fact however that the market is still reduced, with a significantly lower amount of stock out there than usual for buyers. But it’s very encouraging that despite the ongoing ambiguity regarding Brexit, we can see that many buyers and sellers aren’t willing to continue waiting for a decision to materialise, but rather are keen to get on with their lives.
In line with the evidence of an increased buzz among buyers, Zoopla’s Hometrack index indicates that London property prices are slowly beginning to steady after a sustained period of price reductions over the last three years. While prices aren’t yet on the way up but are still hovering at around 15% below their peak a few years ago, the increase in demand from buyers shows positive signs for growth in the not too distant future, somewhat encouraging news for prospective sellers.