Buyer Demand In 2020 And Belsize Park

Buyer behaviour has changed in 2020, so it is interesting to see what buyers are looking for when they search for properties. Zoopla has recently published their most popular search terms for this year, and of course, we are interested in what is on offer.

Of course, we like to pay attention to local matters too, and how what is happening nationally is connected.

It is fair to say Belsize Park isn’t like most property areas across the country. Therefore, it shouldn’t be a surprise to learn the property types on offer in the area, and what buyers see, doesn’t exactly match with what is happening across the country.

As of the end of November 2020, Rightmove said this about the Belsize Park property market; “Properties in Belsize Park had an overall average price of £1,192,901 over the last year. The majority of sales in Belsize Park during the last year were flats, selling for an average price of £949,898. Terraced properties sold for an average of £2,256,950, with semi-detached properties fetching £3,515,000. Overall, sold prices in Belsize Park over the last year were 6% up on the previous year and 3% down on the 2017 peak of £1,232,989.”

Property on offer in Belsize Park

At the end of November 2020, Belsize Park had a total of 320 property types listed for sale in Belsize Park. 6 of these properties were classed as detached homes while 9 semi-detached homes were listed. 21 terraced properties were listed for sale in Belsize Park, and 281 flats were on sale.

Of the total properties listed for sale in Belsize Park, 113 results were returned when using the “Garden” filter.

The “Parking” filter returned a total of 116 results. 47 properties were listed as having a garden and parking facilities.

There was a total of 23 new homes listed for sale, and 17 retirement homes were included in the list.

With so many flats on sale in the area, garden and parking space is going to be more limited. There is open space close to many homes, but if you are buying property in Belsize Park, comfort is second nature.

Buyers’ top 10 most-searched terms

The top 10 most-searched for terms from buyers in 2020, according to Zoopla, is as follows:

1. Garden

2. Garage

3. Parking

4. Detached

5. Rural

6. Secluded

7. Bungalow

8. Balcony

9. Annexe

10. Freehold

The top 10 most-searched for terms from buyers in 2019, according to Zoopla, is as follows:

1. Garage

2. Garden

3. Parking

4. Bungalow

5. Detached

6. Annexe

7. Freehold

8. Rural

9. Acre

10. Seaview

Why has buyer demand changed in 2020?

Although it is fairly obvious as to why buyer activity and behaviour has changed in 2020, the key factors which have shaped the 2020 housing market are:

• COVID-19

• Lockdown

• Remote working

• Stamp duty holiday

If you would like to arrange an appointment to help you negotiate the local housing market, please contact Stones Residential today by calling us on 020 7483 0685 or emailing belsizepark@stonesresidential.co.uk.