In recent months, Southampton, Portsmouth and the
surrounding areas have been experiencing incredibly high property demand from
buyers. This is primarily due to the spiralling rate of London house prices,
which only look set to increase further.
London’s housing market carries on at full speed ahead, with
both buyers and renters are struggling to keep up. Current house prices in the
capital are more than 46% higher than what they were at the pre-financial
crisis peak, with the average house price standing at a massive £525,000.
Many potential buyers can’t afford to purchase properties in
the capital, and with the commuter belt widening, even properties outside
public transport Zone’s 1 and 2 are proving difficult to afford.
On the other hand, this is fantastic news for sellers in
southern locations such as Southampton and Portsmouth, as ex-London residents
are now choosing to bed down further afield to get a foot on the housing ladder
and get more property for their money.
Not only do Southampton and Portsmouth present opportunities
to live in a location where you can get better value for money in terms of
property, but they also rival the capital’s social scene.
One of London’s main draws is its varied social scene, but
as coastal locations such as Brighton have demonstrated, you don’t have to live
in the capital to have a variety of things to keep you occupied.
Cities such as Southampton and Portsmouth are now buzzing
epicentres of activity, with a handful of universities between them, dozens of
galleries and music venues and great ports.
For those who are considering making the move down south,
but still wish to commute to the capital, this is also still possible, taking
just 90 minutes. This provides the best of both worlds for buyers as they can
set up home in a more affordable property, yet not be too far from the capital.
These rising house prices in the capital have really done
southern locations a favour. Higher prices in the capital mean an increased
influx of people are choosing to buy property in Southampton and Portsmouth,
areas where we cover as leading estate and letting agents. This high buyer
demand in these areas means that property can be priced slightly higher than before,
something every seller wants to hear when placing their property on the market.
This increasing demand means that well-presented properties
in Portsmouth and Southampton are selling like hot cakes. Sellers in
Southampton and Portsmouth can benefit from quick selling times too, as on
average they’re likely to sell in 67 and 70 days respectively.
Here at Chimneypots, we’re experienced in all things
property-wise and are skilled in selling your home. Need proof? Well in August
this year, a month typically recognised for being slow in the property market,
we sold 23 properties, quite impressive by anyone’s
standards!
Choose us to sell your home and we’ll ensure we attract
those buyers which are flooding to southern locations such as Portsmouth and
Southampton in their thousands.
If you're looking for an estate agent in Portsmouth and
Southampton and would like further advice or property selling tips, then don’t
hesitate to get in touch with the team today. Alternatively,
if you would like to find out how much your property is worth in the current
market, and be in with a chance of selling your home for free, check out our free, online
valuation tool.