When it comes to the London property market, there is a lot to consider. While the size and standard of property is important, you also need to consider the local area. Features such as transport matter when it comes to the housing market, and a recent study by a leading property portal in the UK indicates there has been a significant growth in the demand for property in the outer reaches of London.
Rightmove analysed buyer search interest in relation to Travelcard Zones, and we believe this is of interest to people who are looking at the Stanmore housing market.
Stanmore homes will see higher demand from keen buyers
Rightmove’s analysis of the London property market right now is as follows:
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Zone 6 has moved from having 9% more buyers in September 2019 compared with the previous year, to now being up by 108%
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Zone 5 has moved from having 8% more buyers in September 2019 compared with the previous year, to now being up by 103%
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Zone 1 has moved from being 41% up year-on-year in 2019, to now being just 7% up
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The further out you go by zone the greater the increase in year-on-year demand
With Stanmore Underground Station located in Travelcard Zone 5, this is the most pertinent zone for local residents, and there is interesting reading with respect to buyer demand for Zone 5.
All the Zone 5 stations in Harrow are as follows:
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Harrow & Wealdstone
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Harrow-On-The-Hill
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Headstone Lane
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North Harrow
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Pinner
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Rayners Lane
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South Harrow
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Stanmore
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West Harrow
Interest in the outer reaches of London has grown sharply
For Zone 5, the period between September 2018 and September 2019 saw an increase of 8% with respect to interested buyers. For the period between September 2019 and September 2020, the increase in interested buyers was 103%.
While remote working is on the increase, some people might think transport is less important when it comes to buying a home.
However, there is no denying people will still want to travel into and out of London, even if you don’t want or need to do so for work every day.
At the end of October 2020, Rightmove said this about the Sutton property market; “Properties in Stanmore had an overall average price of £641,535 over the last year. The majority of sales in Stanmore during the last year were semi-detached properties, selling for an average price of £600,626. Flats sold for an average of £383,122, with detached properties fetching £1,178,032.
Overall, sold prices in Stanmore over the last year were 6% up on the previous year and similar to the 2015 peak of £642,015.”
Whatever your circumstances are, or what move you would like to make next; we are here for you. Stones Residential prides itself on offering the best standard of service to our clients, and we work hard to help you achieve your property goals. If you would like to arrange an appointment or get more details on how we can help you sell your property, contact us today online or by calling us on 020 8954 0045.
