• IS THE OPPORTUNITY TO BUY RIGHT NOW?



    'Softer house prices will have a restorative effect on the London property market long term'



    Lucy Pendleton

Every InvestorMarket comes up for air but London has a bad day

Lucy Pendleton, Founder Director of independent estate agents James Pendleton, said:

"The housing market has come up for air, which is incredible in a month that saw one of the least conclusive general elections ever.

If Theresa May’s disastrous election gamble was the first shock result, then the performance put in by the housing market in London has to be the second.

London had a bad day in the office in June but it always bounces back.

Thanks to its stellar performance stretching back years, we’ve been confidently relying on London to shrug off any slowdown seen nationwide but the tables have turned, if only briefly. If this trend continues in July then that is going to turn some heads.

For the market to bounce slightly across the country as a whole in such adverse conditions says something about the way solid demand and weak supply are cushioning the market.

However, it may be short-lived. A gentle slide in prices could continue but it’s got less to do with Brexit and more to do with four factors that can be the Four Horsemen of the Apocalypse for markets – inflation, consumer credit, wage growth and mortgage activity – all of which have been dragging their heels recently.

In May, mortgage approvals hit an eight-month low, wage growth slumped, inflation rose unexpectedly to 2.9%, a near four-year high, and consumer credit also fell dramatically.

This combination of factors is not fertile soil for house price growth. What I expect to see from those buyers and sellers who don’t have to come to market right away, is the classic wait-and-see wobble as vendors put off selling, and buyers hold out for better deals.

It’s this wait-and-see approach that can cause short-term falls to become a bit of a self-fulfilling prophecy but solid demand, particularly in urban areas, will cushion any retreat in prices.”

Every Investor
By Admin, 28 June 2017
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Help to Buy
Lucy Pendleton to give insight into the recent November 2017 House Price Index.
James Pendleton is an amazing company. They have been a big part of me winning a bronze medal in Rio 2016 and have been so supportive with all my achievements, which wouldn't have been possible without them. They have given me so many opportunities, I am privileged to be associated with such fantastic people who give so much back to the local community.

Aaron
Having recently rented my property through James Pendelton, I can't recommend them highly enough. They walked me through the process and found me amazing tenants. From the first contact they were professional and informative. Thank you to Jacob, you were amazing. Thank you also to the Angel Department who, after realising I needed safely certificates, sorted everything out for me and made sure I had everything in order.

Giles
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