Bexley Borough Property News

Beast from the East, Russia, Facebook, Brexit, Trump, House prices up, House prices down ... the Press is full of column inches on Brit’s favourite subjects of politics, scandal, weather and not forgetting (and I appreciate the irony of this!) the property market. As an agent belonging a national group of letting and estate agents, talking to my fellow property professionals from around the UK, the one thing that is immediately apparent is the UK does not have one property market. It is a hodgepodge patchwork (almost like a fly’s eye) of lots of small property markets all performing in different ways. … And that made me think … is there just one Bexley Borough Property Market or many? I like to keep an eye on the property market in Bexley Borough on a daily basis because it enables me to give the best advice and opinion on what (or not) to buy in Bexley Borough, be that a buy-to-let property for a landlord or an owner occupier house for a home owner.  So, I thought, how cou...

As I have mentioned a number times in my local property market blog, with not enough new-build properties being built in Bexley Borough area to keep up with demand for homes to live in (be that tenants or homebuyers), it’s good to know more Bexley Borough home sellers are putting their properties on to the market than a year ago. At the start of 2007 there were 84 properties for sale in Bexleyheath (DA6) but by May 2008, when the credit crunch was really beginning to bite, that number had risen to 162 properties on the market at a time when demand was at an all-time low, thus creating an imbalance in the local property market. Basic economics dictates that if there is too much supply of something and demand is poor (which it was in the Credit Crunch years of 2008/9) … prices will drop. In fact, house prices dropped between 15% and 20% depending on the type of Bexleyheath property between the end of 2007 and Spring 2009. However, over the last five years, we have seen a steady ...