Enfield Property Searches Grow Sharply
While there is considerable focus on the impact of the stamp duty holiday on the housing market, we cannot overlook the impact of the lockdown, and how we deal with the pandemic.
There is no denying buyer behaviour has shifted in the housing market. The lockdown period has left many people looking for larger homes, and having access to garden areas or open space.
Also, with remote working a possibility for a greater number of people, it is no surprise to see people considering moving from their current location. If there is no need for people to be located close to their place of work, there is an opportunity to live in different areas.
This can be seen in London. While the “mass exodus” from the capital hasn’t occurred to the extent it has been portrayed in the media, there is no denying people are weighing up their options. There is enough evidence to suggest people in central London are looking for homes on the edge of London, and a recent study into property searches by Travel Zone is interesting reading.
Enfield Town rail station is convenient for many professionals
Enfield Town Rail Station is located in Zone 5. According to the Trainline website, the average journey time from Enfield Town to London Liverpool Street is 40 minutes, with the fastest route taking 33 minutes and the slowest journey taking 42 minutes. There are around 47 trains a day servicing this route.
Zone 5 is an attractive option for many buyers
Rightmove’s study highlights a significant increase in property searches in the Zone 5 area of London. Between September 2018 and September 2019, there was an 8% increase in searches. However, for the time between September 2019 and September, the increase was 103%.
This indicates more people are exploring their options when it comes to the outer areas of London, and Enfield is perfectly situated for many households.
Rightmove’s Head of Property Data Tim Bannister comments:” Agents have been reporting a number of people selling up in the inner London zones and moving further out, but to see this reversal in the demand trend reflected so clearly in the data is quite something. Some buyers still expecting to commute into the centre in the long term may have now adjusted their mindset about how many zones they’re prepared to move out, leading to zone 6 being the new favourite. This data demonstrates the short-term trend of more central places like Moorgate and Bank seeing lower demand right now – although it’s worth noting that it’s off strong demand levels for these locations a year ago. I do think this demand will come back eventually but it’s not clear yet how long it will take.”
If you are looking for guidance or assistance in the Enfield property market, we can help. At Atkinson Residential, we are estate, land and letting agent specialists, and we look forward to assisting you as best we can. If you would like to arrange a property valuation, please call us on 020 8366 0261, while you can contact us on 020 8342 1234 for all letting enquiries.