In recent months, Southampton, Portsmouth and the surrounding areas have been experiencing incredibly high property demand from buyers. This is primarily due to the spiralling rate of London house prices, which only look set to increase further.
London’s housing market carries on at full speed ahead, with both buyers and renters are struggling to keep up. Current house prices in the capital are more than 46% higher than what they were at the pre-financial crisis peak, with the average house price standing at a massive £525,000.
Many potential buyers can’t afford to purchase properties in the capital, and with the commuter belt widening, even properties outside public transport Zone’s 1 and 2 are proving difficult to afford.
On the other hand, this is fantastic news for sellers in southern locations such as Southampton and Portsmouth, as ex-London residents are now choosing to bed down further afield to get a foot on the housing ladder and get more property for their money.
Not only do Southampton and Portsmouth present opportunities to live in a location where you can get better value for money in terms of property, but they also rival the capital’s social scene.
One of London’s main draws is its varied social scene, but as coastal locations such as Brighton have demonstrated, you don’t have to live in the capital to have a variety of things to keep you occupied.
Cities such as Southampton and Portsmouth are now buzzing epicentres of activity, with a handful of universities between them, dozens of galleries and music venues and great ports.
For those who are considering making the move down south, but still wish to commute to the capital, this is also still possible, taking just 90 minutes. This provides the best of both worlds for buyers as they can set up home in a more affordable property, yet not be too far from the capital.
These rising house prices in the capital have really done southern locations a favour. Higher prices in the capital mean an increased influx of people are choosing to buy property in Southampton and Portsmouth, areas where we cover as leading estate and letting agents. This high buyer demand in these areas means that property can be priced slightly higher than before, something every seller wants to hear when placing their property on the market.
This increasing demand means that well-presented properties in Portsmouth and Southampton are selling like hot cakes. Sellers in Southampton and Portsmouth can benefit from quick selling times too, as on average they’re likely to sell in 67 and 70 days respectively.
Here at Chimneypots, we’re experienced in all things property-wise and are skilled in selling your home. Need proof? Well in August this year, a month typically recognised for being slow in the property market, we sold 23 properties, quite impressive by anyone’s standards!
Choose us to sell your home and we’ll ensure we attract those buyers which are flooding to southern locations such as Portsmouth and Southampton in their thousands.
If you're looking for an estate agent in Portsmouth and Southampton and would like further advice or property selling tips, then don’t hesitate to get in touch with the team today. Alternatively, if you would like to find out how much your property is worth in the current market, and be in with a chance of selling your home for free, check out our free, online valuation tool.
