With 2023 now firmly underway, many hopeful buyers and sellers are looking ahead at what they can expect from the property market this year.
We sat down with Mark Beim, the founder of Wimbledon Homes, to hear his advice for those navigating the market this year and his predictions for the local area.
The new year is a notoriously slow time in the property market – how’s Wimbledon faring in 2023?
Mark comments, “Now we are at the end of January, the market is waking up again after the typical Christmas break and there is definite movement. At Wimbledon Homes, 2023 has started with a bang and we have agreed one new offer on a property in the first week of January and exchanged on a further two deals on property over £3m and £4m. We are busy with new valuations and instructions, so there are definitely positive green shoots despite the economic world we are in.”
Looking back at last year, any reflections on the property market in 2022?
“There’s no doubt that the global and political climate in 2022 had a distinct impact on the housing market,” Mark says, “whilst Wimbledon has a resilient property market, rising interest rates had a detrimental effect. Liz Truss’s economic plan caused a sudden shock which made many buyers rethink taking the plunge and led to delayed purchases and uncertainty in the market as a whole. However, an overall lack of good stock in both sales and lettings meant that quality properties, correctly priced, still gained increased interest and achieved good prices at sale.”
What are your predictions for the 2023 property market?
“We hope the early positive signs continue in earnest,” says Mark.
“Locally speaking, high end homes are always in demand in Wimbledon Village. We have lots of buyers on our books who are eager to find a new home and my advice to them is to be patient and place themselves in the best buying position possible so that they can secure the right sale.
Wimbledon Village is a great place to live, hence the village property market is different from the property market in other areas and the reason why we continue to see consistently strong prices. UK press headlines do not always align to the realities of the Wimbledon Village property market.”
What makes a good estate agent?
“Unparalleled local knowledge, a breadth of experience and the desire and ability to support the buyer and seller on a transaction through difficult market conditions. There is a lot that can be challenging when dealing with lawyers, chains, surveys, and a host of other issues, so you really need that experienced agent to guide you smoothly to a successful end result.”
At a time when there are more estate agents than ever – how do you choose the right one to sell your home?
“It is imperative to have confidence in your estate agent,” Mark comments. “I would advise meeting them in person as soon as possible so you can gain the trust that they will go that extra mile for you. The agent needs to understand your requirements and make an effort to find the right property as well as keeping the client abreast of new homes coming on to the market. A good agent will be able to skilfully negotiate on your behalf to ensure that the buying experience is seamless rather than stressful.
For my clients, I strive to use my 20 years’ experience, in-depth knowledge, master negotiating skills and calmness to get you, the client, a successful outcome at a good price.”
In a similar vein, how do you choose who to register as a potential purchaser with?
“Again, a proven track record, a strong desire to get the very best result for you – not just in terms of a good price but in satisfaction of the whole transaction. At Wimbledon Homes, we offer a friendly, personal approach with straight forward trusted property advice whilst maintaining great client relations between buyer and seller.”