The UK's property market however remained strong and we are left to wonder what 2022 will bring to the South West London property market.
Maalems estate agent is happy to predict a stable housing market with moderate house price growth for 2022 in the Earlsfield, Tooting and Wandsworth areas. Demand will continue to outstrip supply as the Covid sentiment of 'life is too short' remains a driving factor for buyers. The imbalance between supply and demand will support average prices. Whilst there are concerns about inflation and an increase to interest rates, it is important to remember that rates remain historically low and manageable at present. Buyers are keen to secure the low-rate fixed mortgages currently on offer for their purchases. This year may well be a year where the predicted moderate price growth subsequently helps with affordability.
Private rental, which has seen a rise in average rents, has been in dire need of additional stock to meet demand. Our sales department has already seen a positive return of investors this year, but the sector demands more. As one of South West London's leading letting agents we are able to provide the full estate agent package to investors, new or established.
In conclusion, the SW London property market promises to deliver in 2022. London homes are in high demand again.
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We wish you a happy 2022!