The benefits of owning a home in New Malden are huge. While it’s true that across the country homeowners are benefitting from steady and reliable capital growth, here the rewards are even greater. The core reason is that the area we live in is popular and just keeps getting more so.
Let’s take a look at the numbers. Over the course of the last market cycle, prices here have risen, on average by 9.5 per cent per year. That means since 2010, the average homeowner has made £34,200 per year just by owning a house. There are of course differences between house types; more expensive homes tend to increase more in value, as a proportion, than smaller types, which is a great reason to stretch your budget as far as you can within reason.
Market conditions have been fairly good over the last few years, in stark contrast to other parts of the country. Yet it’s an undeniable fact that we’re between two market cycles and sales volumes have been low. If this next cycle takes the same course as the last, which kicked off after the credit crunch, 2020 looks set to be a year of strong house price growth.
That’s why now is the time to grab the bull by the horns if you’re thinking off making a move in New Malden. Well-priced homes in the area will always be snapped up quickly, but if you want to make the most out of 2020, you’ll need to get a move on. As ever, the best way to make sure you win is to work with a local market expert who understands the market inside out.
Overall sales levels in the last 18 months
There’s so much going on in our local market it’s sometimes hard to keep up. However, one of the measures we as property professionals are fixated on is how many sales are taking place. This chart shows the total number of sales over the last few quarters.
Prices over time vs region and national
A lot has happened in the property market recently, particularly when it comes to prices. However, what’s happening locally doesn’t always reflect what’s going on regionally or in the country as a whole. This chart shows prices side-by-side and reveals telling patterns.
Hours worked each week
Nobody ever lay on their deathbed wishing they’d spent more time in the office. However, most of us have our nose to the grindstone to make ends meet and our area is no different. This chart shows how long the working week is for people here.
