Welcome to our first-time Property Market Yearly Review 🎉
ScanSan 2024 Real Estate Roundup
Today we will talk about trends and insights related to London's dynamic sales and rental markets.
I believe this document is important for anyone who would like to gather information about real estate in London. Whether you're looking to buy, sell, rent, or invest, this month's report from ScanSan Properties provides a deep look into what's moving and instead what is shaking in London's property landscape.
ScanSan’s comprehensive yearly report captures the essence of these changes. To make it even more impactful, our AI-driven forecasts for the final quarter of 2024 add an extra layer of timely insight, filling the gap left by government data delays. At the same time you can still download the October, November and December data from the regular monthly report.
Let’s start with Rental
Rental Market Overview
Rental prices maintained an upward trajectory for most of 2024:
General Trends: A consistent rise in rental prices across most regions, with some areas like Brent showing resilience even in December.
Seasonal Impact: The slight dip in December rental prices aligns with seasonal trends, as potential renters often delay decisions during the 🎄 holidays.
Future Outlook: The rental market is likely to stabilise as supply begins to match demand, offering renters more favourable conditions in 2025.
Overall Total Properties for Rent:
Landlord's Market: Areas like E14 and E1 have high demand leading to quick turnovers. Properties here are literally snapped up very fast, giving landlords the upper hand in negotiations.
Balanced Market: Districts such as W2, NW8, SW11, and NW1 maintain a sort of mystique equilibrium where supply meets demand, leading to stable transactions.
Tenant's Market: In contrast, W8, SW3, and SW7 are experiencing an oversupply, which translates to longer market times and more bargaining power for tenants.
Therefore my dear tenant friends you know what to do and where to go, obviously is always about Location Location Location for some people.
Rental Prices:
High-end districts like W8 and SW3 are very close “friends” and they both boast significantly higher rents, with houses fetching well over £10,000 per month🤯. However, the disparity between average and median rents in these areas indicates a market driven by luxury listings.
For those looking for more affordable options, areas like E1 and SW11 offer reasonable room rents, appealing to students or budget-conscious renters. In any case, you can always use our ScanSan Property Assistant PAA to get more information about any area in London! Use it for free it’s a game changer: https://paa.scansanproperties.com/
Sales Market Overview
Our analysis revealed a general decline in property prices as 2024 progressed, with forecasts indicating a softening market in the final months:
Regional Trends: Central London saw notable declines, while some outer regions displayed greater resilience, maintaining more stable prices.
Market Activity: Properties stayed on the market longer, reflecting slower buyer activity.
Future Outlook: The market’s correction phase will continue into early 2025, with local factors such as infrastructure projects and regeneration efforts shaping specific areas’ performance.
Total Properties for Sale:
Buyer's Market: With inventory levels often exceeding 8 months, districts like W2, SW8, and SW11 show prolonged market times for premium properties, suggesting potential price adjustments to attract buyers.
Seller's Market: More affordable areas such as CRO and E16 see quicker sales, indicating strong buyer interest where the price point aligns with market demand.
Sale Prices and Market Dynamics:
High-value areas are facing longer sale periods, indicating a cautious buyer market, possibly due to affordability or economic caution.
Districts with moderate prices like E14 and E1 show healthy competition, with properties moving off the market quicker, this is a potential opportunity for first-time buyers or investors. I dare you to ask the question to our Property Assistant: can you compare the postcodes E14 and E1 (go ahead and try it out: https://paa.scansanproperties.com/)
How ScanSan AI Enhances Market Predictions
A standout feature of this year’s report is our AI-driven forecasting for October, November, and December. Since government index reports are released three months later, our advanced models bridge the gap, providing actionable insights in real time. These projections highlight:
A slight downward trend in sale prices.
Regional variations in rental prices reflect local demand and supply dynamics.
Looking to integrate our cutting-edge technology to enhance your estate agency's services? Contact us for tailored support with our API pricing or to explore the opportunity to embed our Whitelabel PAA solution. Reach out today for more details we're here to help you elevate your offerings!
Insights and Opportunities
Rental Market: There’s a clear opportunity for landlords to optimize their pricing strategies in high-demand areas, while tenants can leverage longer market times in certain districts for better rental terms.
Sales Market: Investors have a chance to capitalize on slower markets by seeking out properties in premium areas that might be priced to sell, while buyers can find value in districts with quicker turnover for immediate occupancy or investment.
Our 2024 Yearly Market Report offers an in-depth look at these trends, complete with regional breakdowns, heat maps, and detailed forecasts. Best of all, you can access these insights for free on our website. Whether you’re an investor looking to refine your strategy or a renter seeking the best deals, this report is your ultimate resource.
Stay ahead of the curve with ScanSan’s unparalleled insights and let data drive your decisions. Don’t miss the chance to leverage these valuable resources to their fullest potential. Click here to explore the full report now and uncover the opportunities waiting for you in London’s real estate market!
In the meantime, I will see you on the other side!
Stay foolish stay hungry and keep pushing!
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