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| Signs of the times |
As
a south London estate agent with branches in Bromley and Lambeth,
when property issues make the front page of the media, we take
notice. On 23rd July, The Bromley Times went front page
with the story "Rising Prices', sub-title "High cost of
buying a home in the borough – see inside."
The
article, by Sarah Linney, says that the average price of a home in
Bromley and Bexley is now over £300,000 (£304,000 in Bexley,
£436,000 in Bromley). Both are under the London average - £500,000.
The
ratio between wages and wage rises and property price growth isn't
helpful to home purchasers. More helpful are very low interest rates
and, as the article mentions, the loss of the prospect of a 'mansion
tax' after the general election. So, as ever, the picture on London
property is reasonably complex.
Even
more so if you listen to the radio. Recently, as respected a body as
the BBC in a radio programme referred to additional, and very hard to
trace, demand for property in the UK coming from overseas criminal
sources engaged in money laundering.
On
a happier note, Sarah added that Bexley is the most popular place to
live in the country. Bromley is a distinctly sought-after location as
well.
Unfortunately,
the resulting price pressure cooker contributes to a rise in
homelessness among young people and increases in property rental
prices provide fresh difficulties for anyone needing somewhere to
live.There are some interesting developments, one being in Greenwich,
as reported on by homesandproperty.co.uk – see
www.homesandproperty.co.uk/property-news/rentals/family-rental-homes-london-uks-first-private-housing-scheme-family-renters-greenwich.
What
difference does this make to Edward Ashdale Estate Agents? In one
way, none. Our values mean that we seek to put the right people in
the right properties, whether bought or rented. We also ensure that
vendors and landlords and buyers and tenants experience, as smooth
and stress free an experience as possible. Whether prices are up or
down, or if the sales market is more active than the rental sector,
our service has to be the same.
However,
there is food for thought for us. Things are changing and we need to
be changing with them. Our advice to people needs to be able to
consider the latest trends. We ourselves need to engage with people
in new ways, including via social media, to improve customer
experience. We are doing those things. These are all signs of the
times.
You can view our earlier posts in our Index here.
