With the sales market getting back to its normal buzz across London after a cold and seemingly never-ending winter, DAA Residential has seen the average prices of properties in Wapping and the Docklands increase. Likewise the numbers of potential buyers including first time buyers are also improving with the sunnier weather.
This month, U.K. house prices rose the most in three years, led by a 0.7 per cent increase in prices in London, as demand outstripped supply. Overall, according to property researcher Hometrack Ltd, average property values in England and Wales increased by 0.3 per cent, the biggest advance since March 2010.
In my opinion, there are two critical reasons why this might be the right time for you to sell your ‘buy-to-let’ investment. First of all, property prices are continuing their upward trajectory, especially in Wapping and the Docklands, where demand still outstrips supply of good quality apartments and where prices have increased by more than 20% in the last 5 years.
Secondly, the actual time to sell a property is also dropping with the average time to completion of a sale now down by some 20% since late 2012 according to some commentators.
If you would like to discuss the market with me or you would like a bespoke guide on the sales price of your investment property, please do not hesitate to contact me.
Remember, you may not necessarily need your tenant to move out while we are selling your property.