Lee and Hither Green property prices up 10% – latest housing market report

James Ankers KFH Nov 2015James Ankers of Kinleigh Folkard and Hayward gives us his regular property market report and welcomes the redevelopment of Leegate




Q: Is the market still buoyant?

James: The market across London landed with a slight ‘thud’ directly after the buy to let stamp duty rush in early April but after things have now settled down and prices have found their right level again after the early year boost.

Q: Hither Green is often named as the place to buy for first or second time buyers. Why?

James: Incredibly, Hither Green and Lee still have two of the cheapest postcodes price per square foot across London while actually being great places to live and commute, therefore the ‘tag’ simply comes as a default!

Q: Plans to regenerate the Leegate site have been approved. What difference will a new shopping centre make to local property prices?

James: I believe this is another step towards the area becoming even ‘hotter’ than it is already is. While many see London prices leveling off for a period I believe developments and regeneration like the Leegate site will actually once again cause Lewisham Borough to outperform the vast majority of London boroughs .

Q: Should residents who want to sell be concerned about the construction phase? Can that put a temporary blight on areas?

James: No I believe the ‘short term pain, long term gain’ element of the construction and the unarguable improvement of the development should keep people happy and safe in the knowledge that this development will have a positive effect on their lives and their pocket.

Q: Do you like the look of the plans?

James: I’m just pleased that we appear to be finally moving forward, you will never get 100% agreement from local residents, business owners, councils. However everyone needs to compromise and realise that we all need to enjoy the new development. The continued delays have undoubtedly held the area back.

Q: With the summer coming up, should people who want to sell get their property on the market now? Is it true the market goes dead in summer?

James: It is true the market slows down locally during the summer holidays. Buyer levels continue to be really good but traditionally all of my vendors go on holiday so there’s nothing to buy! (Note to self – exploit the captive market.)

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