2016 – A big year for SE23
What will 2016 bring for the Forest Hill Property Market?Earlier this month I was asked that question by a leading estate agency magazine called The Negotiator.I was delighted to be approached to share my thoughts, especially as they called me a local expert.Here's some of my thoughts.“2015 was a solid year for Forest Hill property prices. Some areas saw a growth of over 10 per cent.While I can't foresee a similar rise in 2016 I certainly don't see any decreases.I think the first two months and perhaps until March we'll see more and more people who are looking to purchase a Buy to Let (BTL) start making offers.This is because of the increases in Stamp Duty which come into effect from April for people investing in BTL and second homes. By buying before the deadline people can potentially save thousands and if this does cause a rush then prices may spike a little more than usual. I think the move to clobber landlords with higher taxes will help some first time buyers locally. The most popular properties bought as a BTL from us in 2015 were two bedroom flats. This is also the most popular purchase first time buyers are hungry for. Overall I think 2016 will be another steady year. Prices will rise but not as sharply as in 2015. The main reason why I think this is that this year there was not a lot of stock coming onto the market. I think that will change next year and if it does it will mean buyers have more choice and property values will level out.”At this time of year the housing market is quiet as people's minds turn to Christmas and having a well earned rest with family and friends.However, if you have any property related questions whatsoever please do not hesitate to contact me on 020 8699 5139 or send me an email at: ben@benjamin-matthews.co.ukThanks for reading and Merry Christmas.Ben, Earlier this month I was asked that question by a leading estate agency magazine called The Negotiator.