As I mentioned last month, perceptions of local residents and the reality when it comes to the housing market are sometimes very different things.
I go into peoples properties on a daily basis having never met them before and sit down to talk about the Welling Property Market. It continual shocks me, even after 10-12 years in the industry, how so many people are pessimistic, either about their home specifically, or the market in general.
The market in Welling is good, very good in fact, and most of our stock continues to sell at either asking price, very close to it, or sometimes over it, and usually within 1-3 weeks of becoming available.
The stats below, in comparison to those shown on my March update, prove very positive. The average figures for two, three and four bedrooms homes sold in DA16 over the month surveyed all show an increase, and whilst the figures for the five beds are lower, the volume changing hands is obviously lower too. Leasehold flat figures show a small decline.
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| Average Sale Prices in March 2017, Source: Rightmove |
Of course you can't sum up the entire housing market for the area in the space of a few transactions in one month, but the prices quoted for the area are definitely on the up if you consider the figures over a longer period of time.
In general you'll note that it is now very difficult to expect to find a reasonable two or three bedroom flat in the Welling area for anything under the £250,000 mark. In that respect, if you are looking to get on to the housing ladder, a smaller terraced house might be worth considering rather than an exceptional flat. This will save you needing to move again in the coming years, pay service charges and leasehold extension costs, and allow you to get something freehold with outside space. Whilst stretching yourself financially is not wise, especially if interest rates were to rise in the coming years, a "lesser" house would be a wiser purchase than a "better" flat.
For the foreseeable future, I see no reason the upward trend in local property prices is likely to alter.
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
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
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