Parkheath Property Market Report: December 2010
Tom Gladwin : 10 December 2010
2010 has been an interesting year for the property market in our prime areas of North West London.
Our local market has continued to buck the trends seen across the country. Low supply and a huge demand for high quality property in this area has meant that prices have actually risen, and I believe that they will continue to rise next year.
I know that this goes against the data produced by the Halifax and other building societies which show a declining market. These figures are triumphed by the pessimistic press and those economists who wrongly predicted 30% falls in house prices. But it is impossible to be accurate about a specific area when only looking at National averages.
There are some journalists who interpret data sensibly and
specifically to show the true state
of the local market. In an article
in the Times last month, journalist Ruth Bloomfield writing in 'Bricks and Mortar' showed that the London
Borough of Camden has emerged as the only London
borough where property values have actually increased in comparison to the
property peak of 2007.
I think that now, more than ever, it is vital to look at the micro market in a specific area. Should you postpone buying, based on the National property prices falling, you will end up paying more if your local market rises. The fact that house prices are falling in Leeds and Sheffield does not mean that house prices are falling in Belsize Park and West Hampstead.
I would like to wish you all a very happy Holiday season, and a successful and productive New Year.
Tom Gladwin, Managing Director, PARKHEATH
| A Confident Start to 2011 | Camden and the London Property Market: The Times 12.11.10 |
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