Market conditions made a significant change in some sectors of the London market during September. So if you have been waiting to jump into the market, now might be the time to consider making your move. Here is the reasons why.
The Market Advantage Indicator made a significant shift toward a more balanced market. After months of indicating a sellers market, the pendulum shifted closer to a more balanced environment. A balanced market is considered to be in the range of 50 – 60.September results show the indicator at 64.5 down from 83.0 in August. This means that more competitive conditions are starting to return to the market and home buyers might have more selection to choose from. The market conditions are the most balanced in North London.
The average home sale price had it’s smallest increase this year, when compared to the same month in 2018. The increase for September was 4.9%. This suggests that prices are starting to stabilize and that home buyers can be more confident when preparing an offer to purchase a property. Once again, North London showed the most improvement with a reduction in the average sale price of – 2.6% when compared to September 2018.
If you believe it’s time to buy your next home just call or text me at 519-777-6521.
The September Market Report is below.
