“Christmas seems to have come early for New Malden, whilst the property market in this area is normally very buoyant throughout the year, a combination of Brexit blues and the upcoming festive period seem to have slowed things down slightly. This is not to say that properties are not selling, just that they are now having to wait for the prices to be adjusted to the correct level before being bought. Sellers have started to realise that the market has changed since the start of the year and the air of nervousness regarding the property market is something they want to see out through the holiday season before deciding whether they want to sell. This seems to be the most prudent idea with the market generally slowing down over the Christmas period and buyers being able to purchase properties at lower prices.
For buyers, this is the best time to buy, sellers are more realistic about prices they hope to achieve and would rather find a buyer now than have their property sit on the market over the quiet period. Despite the negative press reports, there is actually some stability in the local market, particularly in the mid to upper price bracket, with a high level of demand for semi detached and detached family homes in the ‘Groves’ area of New Malden.”