When is a Good Time for Buying a Property in London

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Living in London is quite expensive and buying a property here is without a doubt a huge step for anyone. If this is what you plan to do in the near future, then you must be very well informed regarding this aspect so that you can make the best choice for you. You must know exactly when it is a good time for buying a property in London, and you can find out by reading this article. Hopefully, you will find all the information you need for choosing what’s best for you and your family.
According to Hometrack, an important part of the Zoopla property group, 2018 is the perfect year to buy a property in London. The prices are currently falling in nearly half of this wonderful city, and for those who want to invest in a home this is the perfect time for a decision like this. This is without a doubt good news especially after many years when houses and apartments were really expensive here. Therefore, you can confidently start your search right now, because you have lots of chances to find what you need at an affordable price.
The data reveals of Hometrack show that the best areas where you could find something really good are Wandsworth, Camden, Southwark, and Islington as well. These neighborhoods are very nice, quiet and safe, as they have a very low criminal rate. However, if you would like to buy a home in a different area, prices are lower all over London, in comparison with the past few years. Therefore, you have lots of chances to find something affordable and nice as well.
Maybe you are a bit more skeptical person and you are wondering why this city is experiencing such a drop in house prices. Well, the truth is that this drop is a result of tax changing impact overseas. At least, this is what Hometrack says. Not only tax-changing but Brexit as well have affected quite a lot overseas and the interest that investors had in London property. However, it seems that something great has come of Brexit.
There is another aspect that you should also take into consideration if planning to buy a property in London this year. Although prices are dropping this year in this city, it is still very expensive to actually own a house here. That’s why it is very important to know exactly if you earn enough to afford a house in London. Furthermore, statistics show that from next year, prices will again go up. It will probably not be a very big difference, but it is still best to invest in a home this year.
All in all, it is essential to be very well informed regarding what’s new on the real estate market and also consult a specialist in order to make the best decision. Plenty of real estate agencies are all over London and all of them provide the necessary consulting for anyone who is interested in buying a house in the city.

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