JLL Residential

South East London sales and lettings market overview

London, 8th February 2017

Sales
After the predictable rush to complete transactions before the festive break, 2016 ended on a much needed high following a bumpy and uncertain previous eleven months. Levels of activity also remained surprisingly healthy in stark contrast to the usual Christmas slowdown. Notably market appraisal requests remained high, with potential sellers not only seeking a current value but also genuine and candid advice as to what to expect in 2017. JLL's remit, as always, is to discuss a strategy and establish clients' needs whilst ensuring that the optimum value is achieved for their property in a timely manner. These market appraisals are now converting into instructions and we are pleased to say that the level of inquiries from buyers is increasing.

The first two weeks of January can sometime be relatively quiet, however it is obvious that this year the market is springing to life early, and we have already received a handful of offers from the first weekend of viewings. We are encouraged by the level of enquiries both from the web and from walk-ins and telephone calls. Sellers also appear to be more positive, believing that this could be the perfect time to move prior to spring. School catchment areas and job relocations are often the catalyst at this time of year, which, along with upsizing, seems to be the reasons for a moving.

We hope to see healthy levels of transactions similar to 2016, with property consultants like JLL really outshining the competition as valued and trusted property experts. Prices will hold and rise steadily in places as we pass through the year, accidental landlords will be tempted to sell as a general feeling of ‘now being the right time’ becomes more prevalent.

Lettings
Since business resumed after the winter break, there have been no signs of the Greenwich and Blackheath lettings market slowing down. In fact we are seeing a buoyant market with a particularly healthy, daily registration of potential applicants wanting to relocate or upgrade to Greenwich and its surrounding area. Likewise landlords, investors and developers continue to invest in the buy to let market and present good quality stock which tenants are snapping up.

The high end of the market is still experiencing particularly strong demand. Greenwich, Blackheath and its surrounding areas have established themselves as popular and sought after locations and have continues to attract families and couples alike. We expect this demand to continue throughout the year.