What UK Properties Continue to Sell Despite the Real Estate Downturn?
As you are well aware, the housing market in the UK is in a bit of a downturn.
That said, certain real estate properties continue to sell. How do some properties manage to beat the odds and continue to sell well in spite of the current market situation? Well, the main reason is the same old one - location, location, location!
What makes a property desirable location-wise?
Well, that really depends on the buyers, and what their particular needs are at the moment. However, in general, proximity to a downtown centre, transportation, schools, green space, shops, museums, airports and so on are desirable traits. A neighbourhood with a low crime rate is always desirable as well for obvious reasons.
K-Point development sells out in nine months
An example of a property that sold relatively quickly despite the UK housing downturn is Gladedale’s K-Point development in Kennington.
K-Point sold all 28 of its luxury one and two bedroom apartments within nine months - with most of its units bought off plan.
As this property is located just two miles from the centre of London, half a mile from the Kennington Tube Station, 5 minutes from the Embankment, 7 minutes from the West End, 13 minutes from Brixton Academy, and 18 minutes from Canary Wharf, location, without a doubt, played a leading role in the successful sale of these properties.
Sid Griffiths of selling agents, Barnard Marcus, has this to say about Gladedale’s K-Point development: “We were very pleased with the extent of the interest we received in the K-Point development and it comes as no surprise that it has sold out so quickly.”
With its innovative design and contemporary finish, the K-Point development certainly appealed to our market and its position next to Kennington Park offered a unique opportunity to have open green views in what is otherwise an urban central London location, explains Griffiths.
Nevertheless, as you hunt for off plan property to buy or invest in, it is extremely important to keep in mind that properties located in prime areas will indeed continue to sell despite less than ideal real estate market conditions. The extra investment involved in buying a centrally-located property could very well prove more than worth it!
