East vs South-West: Live Debate with Dockleys and James Pendleton
Our Director, Adam Dockley, recently had an amazing experience joining Lee Pendleton of James Pendleton estate agents for a video Q&A.
It was supposed to be a debate between East London (his patch) and South West London (James’ patch). Instead, it was a debate between Central London and the Home Counties with some great property questions from the general public.
Please have a watch – you might hear the answer to your own property question, or learn a valuable insight that helps you make a key decision.
A common theme was “how can I get the best value for money when I buy property?” That’s a very important question – buying property is usually the biggest transaction we make in our lives, and it’s vital that we get it right and choose a house or apartment that will maintain its value.
Because there is so much variety in the property market, it’s hard to say broadly what will increase in value and what won’t. If you buy in an area that later gets picked to be a major transport hub, you’ll suddenly see your property increase in value! However, in the absence of a crystal ball we agreed that it’s really important to do as much research as you can about your specific property or financial plan.
Most people hoping to buy property look at transport links and local amenities first, closely followed by the new must-have features: outdoor space and a home office. If you consider these advantages, you’ll see whether the property you’re interested in is likely to maintain its value.
More important than increasing in value, Lee and Adam both felt buying the right property for you and your life as it is now should be the priority. It’s important to live where your life is and where your friends are – it’s no fun being lonely even if you do live in the “right” postcode. If the value of properties in your area doubles, that’s a bonus, but what’s more important is to live where you need to be now – you never know what’s in store for you.
Lots of other questions came up too, including rising energy prices and the impact on the property market, parking in London and equity release.