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London homeowners positive about their property values

Tuesday, 22 February 2011 09:58 Alex Bell News - London Focus

A recent poll has revealed that homeowners are upbeat about London’s property market for 2011.

85 percent of those questioned indicated that they thought their property would be worth more by the end of the year, than its current market value. The remaining 15 percent stated that they didn’t believe their house would be valued at a higher price.

Commenting on the findings, William Davies, managing director of property maintenance and refurbishment company, Aspect who conducted the survey, said:

“The UK property sector has been through a very tough period, and it is encouraging to see that homeowners are beginning to feel upbeat about the value of their properties. Only time will tell how the market will fare over the year ahead.

“Whether they are planning to sell, or to stay put – London’s homeowners should prioritise keeping their properties in good working order; paying attention to key areas, such as the roof, brickwork and drains. Keeping your property in tip-top condition will not only save money in the long-term, but will also help to maintain its value, should you choose to sell.”

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Reality check

I think some homeowners need to get a reality check. Homeowners may feel upbeat about the value of their homes, but it's the buyers and what they are prepared to pay that really is a barometer, surely? Homeowners need to understand that it's no longer 2007, it's 2011 with 11% loss in prices across the UK. They can have whatever price and value they like, but the value is only ever what someone is prepared to pay for it.

Son Bruce , April 17, 2011 | url