While lockdown measures are currently in place, and the property market has been put in effective pause mode to combat Covid-19, the market is still functioning – just in new, innovative ways, with things like virtual viewings and valuations, and agents advising their buyers and sellers to prepare for a purchase or sale now before the market bounces back.
Inevitably, the current strict restrictions on movement – which are likely to remain in one form or another for quite some time – are going to have an impact on transaction levels, but pleasingly sentiment in the market remains high. Recent research from home moving comparison website Reallymoving found that 75% of current movers still want to move at the earliest possible opportunity.
It also found that over 90% of sellers who are marketing their homes but haven’t yet found a buyer are planning to leave their property on the market for now, despite physical viewings being off the table and transactions much harder to complete. By doing so, though, they are taking advantage of the fact that potential buyers will probably have more time on their hands to search for property online during lockdown.
We know that people will still be looking to buy and sell homes once the lockdown measures are eased, and so now is actually the perfect time for buyers to put in the research (to make sure they’re buying the right home in the right area) and for sellers to get their home ready for sale and to understand how the place they live in might actually be a selling point in its own right.
With this in mind, we are running a series on the areas in which we at Kings Group operate in. Following on from our exploration of Hackney last time out, this time we zone in on the popular commuter town of Harlow.
A quick history
Harlow is best known as a new town, built post-war (1947) to the masterplan of Sir Frederick Gibberd. It was, like all new towns, designed to provide a strong community feel, with separate neighbourhoods, each with their own local shops, schools, community facilities, health centres and green spaces.
The area itself has been inhabited since Roman times, but it only became the commuter town we all know now in the 1940s. Situated in West Essex, surrounded by lovely, picture-perfect villages, its biggest attribute is its closeness to London and the excellent transport links it provides to the capital.
But it’s not just a commuter town – it also has plenty of culture, local businesses, leisure facilities and beautiful open space, as well as a thriving centre with a host of restaurants, shops, cafes and pubs.
Transport links and things to do
Harlow has two mainline train stations – Harlow Town and Harlow Mill – with the former providing Stansted Express and greaterAnglia services while the latter is just on the greaterAnglia branch. London Liverpool Street can be reached in just 30 minutes while going the other way Stansted Airport is only a 20-minute train journey.
The area is also well-served by local buses and access to the M25 and M11 is quick and easy, making Harlow a commuter’s dream.
When it comes to things to do (once the lockdown and social distancing measures have been lifted), Harlow is not lacking. Shoppers, in particular, are well-catered for with two large pedestrianised centres: The Harvey Centre and The Water Gardens. Harlow also has its own market, held four times a week in the town centre, with Monday’s bric-a-bric sale especially popular among locals and those from further afield.
Green space, meanwhile, is in plentiful supply, with Harlow Town Park, Terlings Park and Mall Hall Park all on the doorstep, while Canons Brook Golf Club and Harlow Town FC to the west of the town centre help to keep sporting enthusiasts happy.
Local amenities are strong, too, with an Asda Superstore, a Sainsbury’s, a Co-op Food, Princess Alexandra Hospital and libraries in Harlow and Old Harlow.
A number of extensive retail parks sit in and around the town, with all manner of well-known names selling their wares, plus the town includes various trade shops and car dealerships.
Foodies will also have reason to cheer, with plenty of small independent restaurants in amongst the big branded names. We hope these restaurants will reopen and bounce back once the restrictions on eating out have been lifted, and the same goes for the cafes, pubs, delis and local shops. There may also be opportunities for new eateries as the desire for eating out is likely to soar once it’s allowed again.
There are too many establishments to mention, with many different cuisines covered, but a few personal favourites of ours are King Du (Asian), Dusty Miller (a country gastropub with regular live music sessions), Melin Bar & Restaurant (a family-friendly Turkish restaurant) and Raj Lodge in Old Harlow (an informal curry house and takeaway). In the charming villages that surround Harlow, such as Roydon, there are plenty of good-quality restaurants and pubs to keep you going for some time.
For more information about things to do, from the Harlow Playhouse and the Parndon Mill Art Gallery to the 100 public sculptures in the town and various cycling, jogging and walking opportunities, please click here.
What does the property market look like?
Housing in Harlow can suit a range of budgets and desires, from newer developments closer to the town centre to listed Victorian homes and character properties in Old Harlow.
Given its newness as a town, relatively speaking, most of the housing in Harlow Town itself is post-war – and in many cases newer builds from the last few decades. But Old Harlow has a very village-like feel and aesthetic, with period properties to match.
Affordability is not an issue in Harlow, with much cheaper prices than Central London and its environs leading to high demand from commuters, young families looking to escape the hustle and bustle and older buyers keen for more peace and quiet.
According to Rightmove, properties in Harlow had an overall average price of just above £317,000 over the last year.
Most of the sales were for terraced properties, selling for an average price of £284,529. The average price of a flat, meanwhile, was £217,256. Sold prices in Harlow have gone up by 4% on the previous year. Harlow has, in fact, experienced remarkable house price growth in recent years, with recent analysis of Land Registry data showing that house prices in the town have risen by 74.92% since 2010 – the best house price growth of any Essex area in the last decade. The Times also recently revealed the best places for fast broadband in Britain, with Harlow in the top ten WFH hotspots, thanks to speeds above 56 Mbps and a cost of less than 55p per Mbps per month. Working from home is likely to become far more popular, even after the lockdown and restrictions on movement are lifted, so this is a great thing for sellers in Harlow to shout about as part of their sales pitch.
We appreciate it’s a very difficult time for everyone at the moment, but we are here to support our clients. We’re still open for business, with all of our staff currently working from home and finding new and innovative ways to sell and let homes while the crisis continues.
To contact us or our branches, please call on 02039538030. We can do online viewings on all of our properties as we have been offering virtual tours for the past two years.
