Real estate expert Nick Millican talks concerning the UK’s housing market current trends. He says that, when it comes to housing in London, there are some areas that are undoubtedly more desirable than others. While the overall trend for London is homes selling for less than they are listed for, that does not mean that all areas are going for less. In some areas prices are actually rising, keep reading to find out more.
Some boroughs of London are now going for a higher asking price than ever before, as the renowned and trusted real estate expert Nick Millican comments. While the rest of the market seems to be recovering and prices do seem to be dropping, in areas that are highly desirable like Richmond-upon-Thames, prices have been up over 5.6% from what they once were.
Nick Millican believes that the rise in prices is due to the fact that mortgage rates are so much better than they have been in years. This means that buyers are able to pay a bit more and sellers are comfortable asking for more since it is not outside of the realm of possibility for buyers to actually get loans and get these higher priced properties.
Areas like Hammersmith and Fulham are also up as well as Kensington and Chelsea. These areas are highly desirable and their pricing is reflecting that. The right area is something that most people are willing to pay a bit more for if they really want it, Nick Millican finally states. The right property is something that we all want and when it comes to buying a home, making sure you have the right property can make all the difference.