Patrick Oliver, Bishops Stortford - Market Update

Posted on 30th October 2019

Bishops Stortford - Market Update

by Zoe Kenworthy MNAEA MARLA 

Based in Bishops Stortford, covering the town and surrounding area

Every day I read a variety of property market updates with the B word consistently popping up ! But, my personal prospective is that in 2019 we have found the market to be static, stable and a strong one – why – because everyone in the position to buy and sell WANTS TO.  We have consistently had all the key ingredients to have a positive market with multiple First Time Buyers (FTBs), growing families and downsizers selling and finding their ideal homes.

Therefore, as far as predictions go for 2020, I believe there will continue to be a good property market in Bishops Stortford. Mortgages remain low, so buying is still a great option. But let us not forget the rental market, which with the removal of tenant fees, has definitely meant that tenants are able to move more easily thus ensuring a consistent and vibrant market too. Renting is also a great way to get to know an area before you buy or to give flexibility to travel from place to place.

According to The Guardian more than a third of people moved out of London last year. Which is a trend that will continue with the rising cost of London living. Commutability features in the top 5 wish list for Commuter Newbies, as they want to be within a maximum 45 minute commute of London, therefore making Bishops Stortford a great contender.

The towns commuter road, rail and air links can be all be accessed quickly and easily. They include the main line railway station providing fast services to Cambridge and London's Liverpool Street (approx. 40 mins), the M11 (J8) for the North and South and the A120 West and East. Air access is via Stansted, London's third international airport.

The town and surrounding villages are also very fortunate to have a good selection of both primary and senior state schools with a number being Ofsted 'Outstanding' notably Hockerill Anglo European College (11-18 mixed), The Hertfordshire & Essex High School (11-18 girls - mixed 6th form), The Bishops Stortford Boys High School (11-18 boys - mixed 6th form). There is also Bishops Stortford College (5-18 mixed) an excellent private school close by too.

Here are some October 2019 property news snippets too:

Russell Galley, Halifax MD, “Underlying market indicators, including completed sales and mortgages approvals, continue to be broadly stable. Meanwhile for buyers, important affordability measures – such as wage growth and interest rates – still look favourable.”

Jonathan Hopper, managing director of Garrington Property Finders said "While the number of homes changing hands has reduced, buyer demand has kept surprisingly stable - buoyed by strong wage growth and low interest rates.”Which.co.uk stated “The good news if you’re a homeowner is that prices have recovered over the last few months, with July 2019 seeing the highest average house price”

As locally focused property consultants, we are experts in our areas. If you are thinking about putting your home on the market or are currently struggling to sell, please do get in touch:

Zoe at out Bishops Stortford branch   01279 510300       zoe@patrick-oliver.co.uk       (covering the town and surrounding area)
Gemma at our East Sussed & Kent branch  01424 390100       gpatrick@patrick-oliver.co.uk       (covering St Leonards on Sea, Bexhill, Battle, Rye, Camber, Beckley, Westfield).

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