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What does the Balham property market look like in 2020?

What does the Balham property market look like in 2020?

2020-02-12 
| by Marsh & Parsons (Balham) | Posted in Home & Garden

The team at Marsh & Parsons Balham discuss how the UK’s political landscape is shaping Balham’s property market in 2020.

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Two months after 2019’s general election result and with a new government in place, we’re beginning to see movement in the Balham property market.

We have a two-bedroom apartment available in this beautiful period property on Ritherdon Road.

 

‘We had a 59% increase in applicants registering with us in January 2020 compared to the same month last year’ says our Sales manager Carys Doyle. People are also moving quickly: those who registered in November and December are buying now, a real contrast to before the election when buyers were less willing to commit to a purchase. We’re also receiving multiple bids on some properties which is an encouraging sign of things to come for health of the south-west London market.  

This apartment on Balham Hill has no onward chain.

 

Balham’s vendors are also demonstrating improved faith in the market post-general election. Before, they were holding off selling their homes- leading to a lack of choice from an applicant’s point of view- but now we’re seeing an uptake in stock levels again. Carys says that she expects this to continue in 2020: changes in tax implications mean that more landlords will come to the sales market, and vendors who first considered selling two or three years ago are now revisiting the idea.

This reception room belongs to an apartment available on Bedford Hill.

 

What’s happening in Balham is reflective of the wider London market. Overall we experienced a 75% increase in applicant registrations over the Christmas period of 2019-2020 in comparison to the same period last year. Marsh & Parsons now has on average 15 applicants per property.

This is a clear indication of confidence returning to the market, explained by contrasting the differing political landscapes of 2018 and 2019. In 2018, the government suffered a series of defeats on its Brexit deal, and a vote of no confidence confirmed the loss of the support of a third of Conservative MPs.

We have an apartment available in this property on Cautley Avenue.

 

One year later, the Conservative party secured a majority of 80 in December’s election and then passed the Brexit withdrawal agreement by 358 to 234. It’s clear that a government with a strong majority (and with the uncertainty surrounding Brexit having somewhat subsided) has led to an increase in buyer confidence and renewed interest in London’s property market.

If you would like to discuss the Balham property market, you can reach Carys Doyle and the Balham sales team on 020 8673 4377.

Hunting for the perfect home in Balham? Take a look at our list of properties for sale here!


Marsh & Parsons Balham is an award-winning estate agent and one of our valued Community Partners. Find them at 45 Balham Hill, SW12 9DR. Call Carys (sales) or Miles (lettings) on 020 8033 4114.

Click here to view local properties for Sale and here for Lettings.

Find out more on their website, and follow them on Twitter, Facebook and Instagram.

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