London house prices show no sign of slowing down

Surveys show how those working in commercial property are preparing for a slight downturn. Experts from the Royal Institute of Chartered Surveyors have claimed that in their opinion, ‘property brokers are expecting real estate values and rents to fall as investors and companies turn cautious following Britain’s vote to leave the European Union.’

However, it’s quite a different story for residential property across the UK. Many have claimed that there will be a downturn in the market and activity will slow down, yet London residential property prices are actually on the rise.

Many foreign investors are taking advantage of a weak pound and are channeling their money into both prime and suburban real estate.

One of the most astonishing examples of price increases concerns a 12-bedroom apartment which is located in the Admiralty Arch building and has been put on the market for just under £200,000,000.

As a recent article in the Huffington Post stated, ‘many prognosticators said London’s property market, a favourite target for wealthy foreign investors and jet-setters looking for a second home, would see a major slump after the Brexit vote. Yet so far, the opposite has happened.’

It’s the same story for outer London which currently boasts several real estate hotspots.  At Inspired, we have focused largely on Croydon, as well as other high-growth locations including Sutton, Epsom, and Chertsey.

Croydon in particular has become increasingly popular with young professionals, meaning that there are large investment opportunities to either flip a project or simply grow a buy-to-let portfolio.

Affordability has ensured the surge in demand for residential properties in the borough, as well as superb transport links and a large number or regeneration schemes.

Although Croydon boasts a diverse housing market, we specialise in building new apartments which are perfectly suited to young working professionals and first-time buyers.

Overall, the reduction in value of the British pound following Brexit has made London real estate much cheaper from the perspective of foreign buyers, and sales in the city have jumped roughly 38 per cent since June, so now really isn’t the time to miss out. Our units start at less than £200,000.

To find out more, please contact the team on 020 7495 0523

UK housing market stands strong after Brexit vote

Both politicians and property experts predicted that UK house prices would take a rather large hit post-Brexit, yet the residential market in particular has managed to remain relatively stable.

New data by Rightmove shows how 40.7% – 352,301 – of the 866,179 homes available for sale nationally the day before the Brexit vote are now under offer. In addition, prices have remained stable thanks to increasing demand for property across the UK.

Throughout July and August, the total number of homes on the market has increased by nearly 2%, with the country’s average asking property price rising by £1,040 – from £240,470 on 25 July to £241,510 on 8 August.

Following an independent study which was highlighted in a report by Landlord Today, Nick Leeming, Chairman at Jackson-Stops & Staff, commented: “Whilst the market has weakened slightly following the Brexit result, we usually see a slowdown in activity over the holiday months and these figures suggest we are yet to see a property crisis.

“Although agreed offers have marginally decreased, many thousands of buyers are still making offers to buy homes in the present economic environment. As a result, many sellers are feeling confident, demonstrated by the fact that asking prices themselves have not fallen – and have in fact seen a moderate increase.”

The average price of a home in London is now £600,076, with this figure expected to grow even more thanks to a shortage in supply and increasing demand. Therefore, those worried about the impact of Brexit on the residential property market can rest assured. A weak pound is causing an increase in overseas demand, buyers confidence is rising and property is still proving to be an excellent investment.

To receive regular updates, please contact the team on please contact our team on 0207 495 0523

Gatwick expansion to have positive effect on south London property market

Following months of in-depth debate, eleven councils across London have urged Theresa May to back Gatwick’s bid to build London’s new runway.

The airport has recently reported increased activity with trade at an all-time high, encouraging the government to take the expansion plans more seriously.

Most recently, these eleven council bosses have witnessed nearly 20 years of failed attempts to increase the capacity of Heathrow sufficiently which has only made them more determined to see successful expansion plans carried through.

Unsurprisingly, Croydon Council is amongst the eleven councils openly supporting the concept of the Gatwick expansion, in addition to Hammersmith & Fulham, Kensington & Chelsea and Lambeth Council.

The impact of expanding Gatwick will spread across the whole of London, but have a particularly positive effect on South London. Over 3 million Londoners will experience the impact of increased trade, more job opportunities and improved transport links. In addition, property prices will also increase in the surrounding areas as they benefit from the alterations.

Currently, the average price of a house in London is over 600,000, with prices in outer boroughs such as Croydon still reaching averages of £350,000 – £400,000. The expansion of Gatwick means that there is an opportunity to experience capital appreciation on properties based in the relevant areas.

Furthermore, former MP’s Tessa Jowell and Steve Norris have been confirmed as the heads for the new Gatwick Growth Board, ensuring the impact of the expanded airport is positive and benefits are equally distributed across the region.

For regular updates on the industry, please contact our team on 0207 495 0523

2017 – even bigger, even better for Inspired

Are you nervous about the year ahead? Brexit, Trump, house prices, the global economy? I know I am.

But I’m also excited because in 2017 everything will change. And we’re good at leading through change – we’ve been through so much of it. The old ‘world order’ (particularly in homebuilding) was looking out of date and ripe for some ‘Inspired’ disruption.

In 2016, Inspired led the movement towards higher quality, more efficient and more affordable accommodation. We pioneered improvements in standards, technology and legislation – adapting to the new world and evolving lifestyles. We completed a bunch of awesome projects. We were in the papers, on TV and won awards on the way. We even helped to re-brand Croydon.

So – let’s do it again in 2017. I’m not sure exactly what our greatest achievements will be – a lot of that will be up to you – but if they’re going to be anywhere near what we achieved last year, they will be pretty extraordinary – and that’s an exciting prospect.

Umm – what shall we do?

Shall we help Housebuilders to bring forward new homes by acquiring future phases in their entirety off-plan and then improving them? Sure, why not, let’s do it!

Shall we help smaller investors to continue to invest in buy-to-let? Yes please. We and many other developers need BTL to get new projects off the ground and deliver much needed new homes for young professionals and first time buyers. We have numerous innovative and supportive friends on and in what is now a £2tn BTL sector. Let’s defend them!

Shall we solve the housing crisis? I think we should. Let’s drive home our campaign for efficient legislation and a better planning system. We can build more homes if we cut the red tap – I would love us to be spending more time with our customers creating solutions for them instead of filling in so many forms for lawyers and local authorities.

Can we also continue to deliver great value homes and exceptional returns for our investors? Absolutely.

And if we can get through all of the above before the year’s out, we might just have time to establish ‘co-living’ as an asset class and launch our crowdfunding and VR (and maybe AI and AR) platforms. The world’s our oyster…

But then what? Well I guess that’s up to us. Is that scary or exciting? Probably a bit of everything but hopefully more of the latter.

Come on, let’s do it, let’s make 2017 the best year ever!

Martin Skinner – Founder and CEO, Inspired Asset Management / Inspired Homes