With all the latest developments in the property market in London and throughout the UK, it was inevitable that there would be some alterations in pricing. Property website Zoopla has stated that around 33% of homeowners placing their properties up for sale have dropped their asking prices. This means that now could be the right time for people looking to purchase buy-to-let or investment properties in Islington, London and the rest of the UK.
With consistently rising prices in the first half of 2014, it seemed that it was becoming more and more expensive to find affordable investment properties in London and many other parts of the country. Prices traditionally drop and sales usually slow down at this time of year, and it seems that the market has certainly begun to cool down this December, giving shrewd investors the chance to snap up a property for a bargain price.
On average, 29% of original asking prices have been reduced throughout London and the South East of England, making for huge discounts on many desirable properties. Mitcham, in the London Borough of Merton, has seen particularly huge discounts with prices being reduced by an average of 9.2%.
Other areas which have seen big discounts include Barnsley, Wakefield, Rotherham and Preston, where almost half of properties on the market have seen great reductions in their asking prices.
If you need any kind of help or advice with investment properties in Islington or any other areas of London, our professional property team are on hand to provide the help you need. With more than a decade of experience and an in-depth knowledge of the latest developments in the market, we can help you to make sure you invest at the right time and in the right area. If you want to find a bargain and look for new investments with the potential to make you money in 2015, we are on hand to help.