John D Wood & Co report an outstanding year for Chiswick’s property market

Guest blog by Julian Masson

As we take down the Christmas tree and stash away the decorations, I think it’s safe to say we all hope that 2022 will be a slightly more normal and familiar year.

Interestingly, the property market in Chiswick and West London surprised us all and proved to be far more resilient than we had initially anticipated. The John D Wood & Co. Chiswick office recorded an exceptional increase in property transactions, almost doubling the number of sales and end of year result from 2020.

The house market got off to a flying start in 2021 with the initial Stamp Duty Holiday announcement followed by a further Stamp Duty Holiday extension and a mortgage guarantee scheme. Covid-19 created changes in lifestyle, changes in people’s commute and perhaps most importantly to the property market, changes in people’s needs and requirements.

The desire for more space for working from home and different uses of a home had a massive impact on the extraordinary bounce back from previous years. With a breadth of offices positioned across central London, our Chiswick office witnessed a surge in purchasers relocating from the likes of Notting Hill, Fulham, Kensington, Chelsea etc. which provided us with the buyers for our vendors selling in Chiswick.

We also experienced a dramatic increase in buyers and sellers moving within Chiswick, with many wanting to upsize whilst other long-term residents of the area needed to downsize.

The buying frenzy died down towards the end of the summer and beginning of the autumn as many sellers who would have typically sold in the autumn decided to make the most of the Stamp Duty Holiday earlier in the year. With the days drawing in and the return of the cold weather, a lot of our sellers decided to put their moves on hold until the New Year and enjoy a much-needed extended Christmas break.

Due to a lack of new properties launching to the market, the properties we did launch pre-Christmas experienced a phenomenal result, four of which we agreed within a matter of days at the asking price or above.

The number of purchasers registering with us in the autumn has been incredible, many of whom are desperately searching for family homes across different price ranges. Furthermore, the properties we have launched between Christmas and New Year ranging from £1,150,000-£2,450,000 have had a very positive response, with many people lining up early viewings within the first day of our return to the office in January.

I have no doubt that this year will be another unusual year for the property market and the demand for property in Chiswick and West London will continue to increase.

Julian Masson is Branch Manager and Head of Sales at John D Wood & Co., Chiswick

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