The days are getting shorter, the nights are drawing in, the leaves are falling off the trees and the temperatures are starting to dip a bit – all of which means we’re leaving summer behind and entering autumn.
Which, as luck would have it, is arguably the best season in which to sell a home as the traditional post-summer boom in housing activity coincides with a desire from buyers to be in their new home before Christmas. It is typically a very busy period – as both buyers and sellers put their home moving plans into action – and here we take a closer look at why that is.
The holidays are over, the kids are back at school, and people want to arrange moves before the festivities begin. This all means activity ramps up in September, October and November. While summer is generally a quieter period for the property industry, this summer was particularly quiet thanks to the excellent weather, World Cup fever and ongoing uncertainty over Brexit negotiations.
The uncertainty over Brexit is still there – and may cause some people to think twice – but other variables are now in favour of stronger market activity.
Given the desire to be in their new home by Christmas, buyers may also be more eager to push through sales in a fast manner, which will be music to the ears of sellers who dread frustrating hold-ups or delays.
As a seller, you can improve your chances of selling by trying to hold viewings in the daytime (when you can shine the best light on your home), clearing your gutters, drains and driveway of leaves, keeping your home warm and toasty during viewings if the weather is cold outside, and decluttering your property so it doesn’t feel too personal or lived in.
Here at Living in London, we operate in one of the capital’s most exciting and up-and-coming areas. In Canada Water, for example, there is what is known as the Canada Water Masterplan, which aims to create a new urban centre for London in SE16.
The project, devised and led by property development and investment firm British Land, puts forward plans for the 53-acre regeneration of Canada Water. After four years of planning and consultation, the plans were finally submitted to Southwark Council in May.
The green light is expected to be given at some point this autumn. If the plans are approved, work could begin on the first detailed plots in spring 2019 (with a target completion date of 2022). The whole Masterplan, in turn, could be completed and fully functioning by 2033.
It would deliver up to 3,000 homes, in addition to retail, leisure, work, entertainment and community space, with the first three buildings set to be constructed on Surrey Quays shopping centre’s current overflow car parks between Deal Porters Way and Canada Water Dock, plus the empty site at Roberts Close.
The first phase would generate 270 homes as well as plans for 285,000 sq ft of workspace, a leisure centre, shops and places to eat and drink. Proposals for affordable social rented housing have also been included.
As well as bringing visitors, tenants and buyers to the area, existing residents of Canada Water will be given a major boost by the project as it becomes a nicer place to live, work and commute from. At present, it could be argued that Canada Water is mostly a commuter hub – a good base for people working elsewhere in the city. However, new leisure, work, entertainment and food/drinks spaces could help to change all that.
Those looking to sell should also be boosted by the plans, with greater media coverage of the area possibly leading to higher levels of interest from potential buyers.
In nearby Rotherhithe, meanwhile, there has been an update on the proposed Rotherhithe Bridge - a pedestrian and cycle bridge which would connect south east London to the docklands peninsular, making ‘sustainable transport a life changing option for thousands of commuters’.
The low lying bridge, downstream from Tower Bridge, will need to be designed so it can open to allow tall boats to pass.
Now, in response to the recent public consultation on the planned bridge, the team behind the initial proposals - reForm Architects and Elliot Wood Engineers – have relocated their design to its original 2013 northern position. The new location, along with a 20% reduction in the scale and 5m reduction in the height of the bridge, would bring ‘tangible public benefits and cost savings to the scheme’.
The update on their official website added: “We once again publicly offer our innovative bascule design for independent scrutiny as part of the ongoing process which TfL confirm will need to demonstrate that the best design and cost outcome has been achieved.”
The bridge, which has the support of the Mayor and TfL, would be the first bridge built in central London to the east of Tower Bridge. But it has proved controversial, with a high-profile and heavily scrutinised battle over the design of the Rotherhithe-to-Canary Wharf crossing.
Consultancy giant Atkins was appointed by TfL in March to provide engineering and architectural support to the project, but reForm Architects is no longer being considered for the design support contract after another design consultancy, Arcadis, allegedly advised against the bascule-type bridge design. It’s still unclear who will actually be responsible for the eventual design of the bridge, but a planning application could be made in 2019 and Sadiq Khan said in the summer of 2017 that he’d like to start construction as soon as possible.
Autumn, then, has so far been busy in terms of developments to the areas we operate in, but as we outlined above it’s also a good time to sell a home – with demand likely to be high as plenty of buyers enter the market seeking a home before the turkey needs carving.
Do you know how much your property is worth?
The market in 2018 has been an interesting one so far, but how has the performance of London's property sector affected the price of your home and how much you could be selling it for? If you would like an 'instant valuation' to get a better idea of what your property is worth for sales or rental, please click here. Or if you would prefer to discuss your options in more depth, please feel free to contact Living in London on 020 7231 0002.