We have put this series of posts together on London’s 32 boroughs to give you a picture of what is happening in the new build market and where the opportunities will be in 2023. Here’s our short investor guide to buying in Bexley.
Information and timing are critical to generating wealth when it comes to investing in new build property. Most investors simply don’t have access to enough information to make an informed investment decision buying off plan. High quality information is reserved for big investors who get all the best deals.
We have put this series of posts together on London’s 32 boroughs to give you a picture of what is happening in the new build market and where the opportunities will be in 2023.
2023 The Year of the Investor
Many are pessimistic about the short-term prospects for the London property market. We think it provides one of the best buying opportunities for buy to let investors in several years.
Good property investors make investments in times of uncertainty, the key to making a good decision is having access to all the information.
Bexley – New Housing Analysis
The sale of new homes in Bexley has averaged 262 sales p.a. between 2009 and 2022. New construction starts over the same period has averaged 286 p.a.
New planning applications peaked at 2,100 in 2021 but have dropped back to 510 broadly in-line with their long term average of 550.
Bexley – Properties due to complete but Unsold
There are 7 new build scheme is in Bexley to complete in 2023. Of these three are yet to be launched comprising 154 properties.
Opportunities for Investors in Bexley
Although Bexley is a relatively small market, there may well be an opportunity for investors. Average sales in the location have been skewed by higher numbers of sales in 2020 (446) and 2021 (405). Sales were much lower in 2019 (214), 2018 (136) and 2017 (160).
With 154 properties due to complete next year and likely tougher market conditions, there may be opportunities to drive a hard bargain. Particularly, for 3 developments which have yet to be launched.
Risks for investors in Bexley
Bexley is a smaller market and is not as well connected by transport routes. It may be possible to drive a hard bargain yet not really achieve an optimal outcome. This is because if the market does soften in 2023 there may be better buying opportunities which are better connected.
If you want to find out more about which developments are likely to come to market next year in Bexley email us at [email protected].
You may also be interested to read our wider guide to the London Borough of Bexley.
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