At Finefair Ltd we work hard to make sure we are one of the best resources for investors in London. Our goal is to provide the broadest range of services, covering everything from acquisition to management and guaranteed rent. As a result, we are a team you should definitely work with. This is especially true if you are looking at the options for property investment Enfield has to offer.
A quick look back
The last 18 months have been quite incredible for the property market in the UK. It has been a period of big ups and downs. There have been some huge changes in what people are looking for, especially because of COVID and working from home. This has brought a change in focus in terms of locations and property types.
Perhaps most amazing has been the bounce back. At a number of points the whole industry almost came to a standstill. But activity exploded back in a major way, seeing record requests for viewings at estate agents across the UK. For several months listings were going live in many areas and sales would be agreed in a matter of days.
However, there was the typical slowdown at the end of the year. This brought a drop in activity and a dip in prices too.
What could happen in 2022?
Experts are predicting the market to get closer to normal behaviour this year. However, it is already starting off slow. According to Rightmove figures, the number of homes currently for sale is at the lowest point since 2004. That can make it difficult to find assets. If you are thinking about property investment in Enfield and other parts of London, we can help you here.
The current conditions are really useful for sellers who plan on listing their properties in the coming months. The lack of supply means that it is likely that any homes with good pricing will fly off the market. It really is a seller’s market at the moment.
While sellers do have the power, prices did cool a little in December. According to Rightmove they were down by 0.7% on average when you compare to November. However, the average asking price is still above December 2020. There is also an expectation that prices could rise by as much as 5% this year.
Be wary of sticking around
One thing to be careful with in 2022 is how long a property remains on the market. As we said above, there were times in the last 18 months when sales were complete in a matter of days. What this does is highlight homes that remain on the market for a long time. That can deter potential buyers because they will question why these properties did not sell sooner.
It can be incredibly tricky to reignite interest in properties, even when supply is low. To avoid this you need to ensure the listings do not go stale. It is also vital to price properly; over-pricing is one of the easiest ways to put people off.
Selling
Another thing sellers need to be careful with is waiting too long to list. Many people will wait to put their properties on the market while they look for an onward purchase. However, that is risky as they will likely find they are in competition with other bidders. It is more effective to list first and then look for the next purchase.
Ask us about property investment in Enfield
Finefair Ltd provides an excellent service for all kinds of property investors. We can be with you every step of the way, from finding a suitable asset to managing and leasing. Our comprehensive services give you the best peace of mind. Plus, we can guarantee rent on every asset.
So, if you are looking at the opportunities for property investment Enfield offers for the coming year, work with us. You can get in touch today to find out more about what we can do for you.
