Southwest London Housing Market: Hot or Not in 2024 so far?

Thinking of buying a place in southwest London? You might be wondering if you’re jumping in at the right time. Let’s break down the situation and see if it’s still a hot property market or one that’s starting to simmer.

Here’s the headline: house prices in southwest London have cooled slightly compared to last year. We’re talking around a 3% decrease according to Rightmove. That might not sound like a huge shift, but it’s a change from the double-digit growth we saw pre-2023. Interestingly, this dip goes against the national trend, where house prices have stayed pretty flat.

Is the Seller’s Market Over?

Another interesting tidbit – the number of sales transactions in southwest London has dipped compared to last year. This suggests a shift in power from sellers to a more balanced market. Basically, there might be more wiggle room for you as a buyer!

So, Should You Buy Now?

Southwest London prices are still about 6% higher than their peak in 2020, so it’s not exactly a steal. But the slowdown and potentially increased negotiating power for buyers are positive signs.

Here’s the Takeaway:

The southwest London housing market is showing signs of cooling down. Prices are down slightly, sales activity is calmer, and there might be more room for negotiation. This could be a good window of opportunity for buyers who were priced out before.

The information above gives you a general sense of the market, but remember, southwest London is a big area with different neighbourhoods performing in their own ways. Before you take the plunge, consult us and chat with our local property experts. They’ll have the latest data on specific areas and can help you find your perfect spot in southwest London.

Happy house hunting!