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MUCH has changed since spring when there was an overwhelming supply of buyers in comparison to the number of properties that were available. The balance in supply and demand certainly now seems to be more balanced with more home owners deciding to sell.
Coopers estate agents with branches across the borough of Hillingdon, say the latest Land Registry data shows that prices in Hillingdon Borough increased just 0.2% last month whilst having increased 9.3% annually.The average property is now worth £296,551 in the borough.
The national press certainly make it very hard to know what is actually happening due to the fact that every area in the UK, not least London, is experiencing very different market conditions.The recent ‘Mortgage Market Review’ has toughened up mortgage lending criteria which is combined with an impending rise in Bank of England rates giving clear signals that measures are being taken to cool the market.
For more information on what’s happening in the market, whether you’re looking to sell or rent or just to have an informal chat please contact one of our offices.
For details and phone numbers for Coopers offices go to www. coopersresidential.co.uk