Market report – A look at this summer’s house prices compared to the summers of 2016, 2014, 2012, and 2007
Given that we operate in one of East London’s fastest-growing and most popular areas, property price trends are always on our radar. Not only do they indicate areas where investors can make money, but they are also a sign of the popularity of the area.
And what better way to explore our fascination than by conducting a Waltham Estates analysis of house prices over the past decade. The comparisons below clearly show the rollercoaster ride that Walthamstow’s property market has been on in recent years. Enjoy.
What have we seen this summer?
With similar prices seen throughout the summer, there has been a monumental increase when compared to prices in years past, as we will see below.
1 year ago?
Compared to the giant £760,000 figure above, Rightmove stats show that, in September 2016, a freehold three-bedroom terraced house sold for £650,000. That is almost a 17% increase.
3 years ago?
Looking back further makes the situation even clearer. In the year 2014, the same type of house as those mentioned above sold for £370,000. There is almost a 76% jump from this price to the 2016 price, and so a clear trend starts to emerge.
It is evident that recent times have seen a huge increase in prices.
5 years ago?
If you were in the market for a Walthamstow property in 2012, you would have been looking at around £267,000, which is exactly what a freehold three-bedroom terraced house sold for in the summer of that year.
10 years ago?
In 2007, a freehold three-bedroom terraced house sold in Walthamstow for £285,000. The fact that this is higher than the 2012 figure is likely due to the housing crisis. Following a slight lull, after 2012, property prices in Walthamstow have truly soared. £285,000 is an extraordinary sum when compared to modern-day prices.
Simply put, over the last 10 years, prices of properties have more than doubled in the Walthamstow area, with the most pronounced growth coming in the last 3 years.
This conclusion comes as no surprise to us. Over the many years, we have been helping people find property in Walthamstow, we have witnessed the incredible development in, and enthusiasm for, the area.
Whether you are looking to invest in property, or find your perfect home, at Waltham Estates, our knowledge of this area and its trends over the years allows us to locate the house that’s right for you.
The future certainly looks bright for Walthamstow’s real estate market.