Increasing Number of Downsizers Driving Sales of Reasonably Priced Large Family Homes in London
Date of Issue: 29 May 2012
By: Sky Communications International, on behalf of Wooster & Stock
More retirees are downsizing their homes in order to free up capital that is currently tied to property, in order to cover rising living expenses. As they tend to purchase smaller homes, we are now seeing an increase in beautiful large family houses on the market at fairly competitive prices.
Families have the opportunity to purchase large family homes close to central London at reasonable prices due to an increasing number of downsizers putting their properties on the market. According to Rightmove, downsizers are the driving force in today’s market, with trading down now the single biggest reason given for selling.*
Leading south London estate agent, Wooster & Stock, suggests that those trading down are generally baby boomers that have experienced an increase in their property values in recent years. But like the Rightmove report suggests, these people are rich on paper in terms of property wealth but may be short of easily available cash and have decided it is not worth holding out any longer for the recession to end and lift house prices once more.
Becky Munday, Head of Sales, Wooster & Stock comments: “More retirees are downsizing their homes in order to free up capital that is currently tied to property, in order to cover rising living expenses. As they tend to purchase smaller homes, we are now seeing an increase in beautiful large family houses on the market at fairly competitive prices.
“For example, there are homes with four or more bedrooms available in SE5 from £800,000 to more than £1.2m.** There really are some amazing opportunities for families to cement their London roots and for investors to build up their property portfolios.”
A magnificent terraced house in the picturesque Grove Lane is currently on the market with Wooster & Stock for £1,199,950. The Georgian style four bedroom terrace is in fact early Victorian and comes with a separate two bedroom mews house. It is beautifully decorated using a traditional colour palette with a stylish twist and has charming period features including the signature bay window with original shutters.
The open plan kitchen and dining rooms are perfect for entertaining and two sets of French doors lead to the luscious garden complete with flower beds and lawn. The front garden is also a highlight, designed by award winning topiarist, James Crebbin Bailey.
Residents can enjoy the fruits of Camberwell’s eclectic cultural mix, with The Crooked Well, Angels and Gypsies and No. 67 all popular venues for a meal or Sunday morning coffee. Ruskin Park is nearby and offers shady parkland and tennis courts, while local schools are highly regarded, including Dulwich College, The Charter School, Lyndhurst Primary, The Villa (nursery and pre-prep) and Dog Kennell Hill Primary School. Higher education providers Camberwell College of the Arts and Kings College are also situated in SE5.
Transport is also a breeze from central Camberwell, with trains from Denmark Hill station journeying to London Victoria in around 15 minutes.*** The forthcoming East London Line extension will also provide residents with direct access to Shoreditch and Canary Wharf.
For further details, please contact Wooster & Stock via www.woosterstock.co.uk or call:
Camberwell 020 7708 6700 | Brixton 020 7952 0590 | Sydenham 020 8613 0060
*** www.tfl.gov.uk and www.nationalrail.co.uk