Great news for house hunters in Canary Wharf as buyer’s market returns

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With experts predicting the price boom is subsiding for London property, our Canary Wharf estate agents take a look at why this time of incremental growth is great news for buyers looking for property in E14 and across London.

Property values in Canary Wharf

Now could be the perfect time to make your next move if you are considering buying in Canary Wharf

London has seen property values increase three fold over the last twenty years. Foreign investment and huge amounts of regeneration have been partially responsible. Now though, with people still waiting to see what Teresa May will put on the table the time could be a great one for buyers in Canary Wharf and London as a whole.

House prices are only set to rise in small increments over the next two years. A recent poll suggests rises of only 1.8% in 2019 and 2.0% again in 2020. This is the National figure. It is going to be good news for buyers. First-time buyers in particular will be boosted onto the property ladder, aided with the extension of the Help-to-Buy scheme until 2023 for first-time buyers.

Buyer’s market returns, but its not all bad news for sellers

The London figures in the poll predicts a 1.5% price increase in 2020 alongside a 2% inflation increase. Together with great bank deals on offer currently, buyers are coming into a really good phase in the market. Borrowing costs are low.

It is not all bad news for sellers however. History shows that the London property market is never subdued in the long term. We have also seen property prices holding steady in E16 and other areas of outer London.

The time of the buyer has definitely come in the London market. Given the fact that historically these times do not last for too long it could be the perfect opportunity for you to make the next move if you are considering buying.

Buying a home in Canary Wharf

Our Canary Wharf office have a range of flats & apartments for sale in E14. If you have any questions you would like to ask us about buying a property in Canary Wharf or surrounding areas give us a call today. We may have a great opportunity waiting for you.

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