What is the latest on Welling property prices?

I am still amazed on a weekly basis to be told by vendor after vendor that the housing market isn't very good. 

"Where are you getting that impression from?" I ask... the answers are wide ranging. 

And is it any wonder when Rightmove and Zoopla, the nations two biggest property portals, are both issuing reports to prospective buyers and sellers that all is doom and gloom?

Zoopla have issued figures this week showing property prices in Welling, DA16 are down over the last six months (see graphic below). Working in the area on a daily basis I don't agree, but maybe its just us!

If you delve deeper, do bear in mind that those prices are transacted properties. Those coming to market in the last month or so will not have concluded and been reported back to the Land Registry. As we are averaging this calendar year over 100% of asking price achieved across our sales pipeline I would assume that things are on the up for anyone looking to sell in Welling, and as they say, you shouldn't be reliant on stats, but should speak to a local agent. 

Then come Rightmove with their report on average prices for sales and rentals, but most alarmingly of all, the average rental yield for DA postcodes being just 4.71%. That, frankly, annoys me, because anyone renting out their property for a low yield is effectively losing money, and if that is the average, there are some almost giving their properties away. See below. 

So for those of you insistent on being sceptical, including the big portals, what about some factual evidence. 

Take Coleman Road, DA17 for example, a nice residential street in Belvedere, what would a house there sell for? Circa £300,000 we decided in conjunction with the owner. And the result?

And of those ten offers, nine were asking price or over, and all achieved within one week. And the one under asking price? "Zoopla says the average price in the area is £285,000 so I'm offering that and think it's fair". Sadly for that buyer, nine other parties, one vendor and his wife, and three estate agents didn't agree. 

The market is strong, in Welling and surrounds at least, so if you are considering a move, don't believe what generic websites and stats tell you, or historical data, ask the people in the know, the agents, looking at property and speaking to buyers and sellers on a daily basis. Gauge their opinion, and as mentioned before, you might be pleasantly surprised as to what your property is really worth, and how quickly it will sell. 

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation