Bexley Borough Property News

My research shows that certain types of Bexley property are more affordable today than before the 2007 credit crunch. Roll the clock back to 2007 just before the credit crunch hit which saw Bexley property values plummet like a lead balloon and the Bexley property market had reached a peak with the prices for Bexley property hitting the highest level they had ever reached.  Between 2008 and 2010, Bexley property values lay in the doldrums and only started to rise in 2011, albeit quite slowly to begin with. Nevertheless, even though property values have now passed those 2007 peaks, my research indicates that Bexley property, especially flats/apartments, are now more affordable than they were before the 2008 credit crunch. Back in 2007, the average value of a Bexley flat/apartment stood at £240,750 and today, it stands at £294,424, a rise of £53,674 or 22.3%. However, between 2007 and today, we have experienced inflation (as measured by the Government’s Consumer...

Well, the fallout from the recent budget is ongoing.  I was chatting to a couple of movers and shakers from the Bexley area the other day when one said, “There isn’t enough land to build all these 300,000 houses Philip Hammond wants to build each year”. If you read the Daily Mail, you would be forgiven for thinking the country was at bursting point ... or is it? 60 years ago, the first satellite, Sputnik, was launched. All the superpowers have used them to take high definition pictures of each other for decades, but now satellites and their high-powered cameras are being used for more peaceful purposes. The European Environment Agency (EEA) has been taking high definition pictures of the UK from outer space to give us a focused picture of what every corner of the country really looks like, and the findings will come as a surprise. As my blog readers know, I always like to ask the important questions relating to the Bexley property market. If you are a Bexley landlord or Be...

I miss the good old days of George Osborne as Chancellor, with his hard hat and hi-vis jacket. He must have visited every new home building site in the UK with his trademark attire! For the last few years, the nearest Philip Hammond has got to donning a ‘Bob the Builder’ outfit was at his grandchild’s birthday party. However, with what appears to be a change in focus by the Tories to ensure they return to power in 2022, they seem to have fallen in love with house building again, with the Chancellor’s promise to create 300,000 new households in a year. Nationally, the number of new homes created has topped 217,344 in the last year, the highest since the financial crash of 2007/8. Looking closer to home, there were 764 ‘net additional dwellings’ in total in the last 12 months in the London Borough Bexley Council area, a decent increase of 79% on the 2010 figure. The figures show that 104% of this additional housing is found in new build properties. In total, 796 new dwellings were b...