The Canary Wharf property market has started the new decade with a splutter in 2010. Heavy snow has dampened people’s appetite for getting out and viewing new property both for sale and rental. With the dire weather behind us we can start to confidently look forward to the year and decade ahead.
One of the first events of the Canary Wharf property calendar will be the re-launch of Indescon Court in Canary Quarter by developer Galliard Homes. After successful re-launches at Wharfside and Barking Central, I’m sure the marketing will be along similar lines with big discounts advertised to savvy buyers due to non completion of previous investors.
The outlook for property prices in the area looks positive with pent up demand and lack of supply combining to put upward pressure on prices as well as the regeneration benefits on the 2012 Olympics around the corner. My advice to sellers is “don’t wait for the Olympics to sell”. By then it may well be too late. There is a window of opportunity to sell to people hoping to benefit from an uplift in prices due to the Olympics, but the longer you leave it, the less benefit there is to buyers. The regeneration underway for Stratford and surrounding areas will help prices and I think everyone is looking forward to having our own Westfield’s shopping centre on our doorstep! The improvements to transport will also impact on prices. Barratt Homes are also making positive noises, announcing recently that they will be starting work on 8 new major developments in London.
Rightmove recently announced that property stock levels are at their lowest level for a century. This only adds to the notion that now is the right time to sell if you have been putting it off.
If you have a property for sale or to rent contact Angus directly on 020 7473 9533 for a free no obligation valuation. We have access to the latest valuation tools to give you a realistic achievable price for your property.
Angus Edy
Movello Managing Director
http://www.movello.com/
Monday 18 January 2010
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