Wembley Property Market Holding Up Despite Doom and Gloom in the Newspapers

The Wembley housing market over the last three months is now becoming more ‘normal’ after the last couple of years of insane demand when the lockdowns started a race for space!

Wembley Property Market Holding Up Despite Doom and Gloom in the Newspapers
Even with the blackening economic doom-mongers forecasting a harsh slowdown in the British property market, the number of people buying and selling their homes is still very good for the time of year.
Whilst many homeowners are reducing their asking prices, it is not the 20% (some even said 30%) drop some property commentators and newspaper journalists had predicted.
Looking at the stats for Wembley for the last three months since the disastrous Truss mini budget – they make good reading.

Of the 95 Wembley properties that have sold (stc) since late September, the average length of time it took to achieve a sale
was 94 days.

Under £100k – 149 days
£100k to £200k – 161 days
£200k to £300k – 90 days
£300k to £400k – 70 days
£400k to £500k – 59 days
£500k to £1m – 100 days
£1m and above – no properties sold in this price range

And by type:
  • Wembley Apartment/Flat – 90 days
  • Wembley Terraced/Townhouse – 65 days
  • Wembley Semi-Detached – 158 days
  • Wembley Detached – 191 days

The latest sold price data from the Land Registry shows that Wembley house prices currently remain 12.2% higher than they were 12 months ago; the rate of growth has dropped significantly.

Last month, Wembley house prices dropped by 1.4%; thus we are seeing the first sign that the property market is starting to cool.


With interest rates at 3.5% and further increases likely in 2023, that will undoubtedly spur ongoing cooling in Wembley property values yet it’s doubtful we will see the Wembley property market go into the deep freeze that many doom-mongers were predicting.

As I said in recent articles on the Wembley property market, we will see a 5% to 10% reduction in Wembley house prices over the next 12 to 18 months.

That will only take us back to the prices achieved in mid/late 2021 or early 2022 (depending on the property type).

Landlords have experienced double-digit rent growth in the last 12/18 months with a shortage of rental properties coming onto the market. I cannot see this changing in the short term, so I expect rents to be a further 10% higher by Christmas 2023.

Last week I stated it is not always wise to only focus on house prices but also take reference from the number of property transactions completed that feed the fire of the British property market.

For example, in March 2021, 135,670 properties sold, yet a month later, it dropped to 87,600. A couple of months later, it rose again in June 2021 to 165,290 homes sold (for it to drop to 64,000 in July).

Whilst this is good news for estate agents and removals companies, it can skew the property market and put undue pressure on the property market (pressure which could cause a housing crash if not put under check).

Like most things - slow, steady and consistent is the preferred option for the property market. Throughout 2022, the number of properties selling in the UK has been a steady average of 68,832 per month, ranging from a low of 61,800 in January 2022 to 72,200 in July 2022.

This consistency will continue into 2023 and a return to a more 'normal' housing market.

One final thing I have noticed about the Wembley property market in the last six months is the number of larger properties coming onto the market that last sold over 25 years ago.

Homeowners in their 20s, 30s and early 40s tend to move every five or six years, yet when they reach their late 40s and 50s, they tend to stay put for longer. These properties only tend to come on the market when people pass away or must be sold for nursing home fees.

These mature homeowners are downsizing for several reasons. Their children have flown the nest and they’re rattling around in homes with accommodation they don’t need. Many are being driven to sell their large homes in light of mounting energy bills, high inflation and never-ending maintenance costs that larger properties demand.

The second reason is that the recent rises in Wembley house prices has meant the money released to downsize has grown, meaning if these mature homeowners sell up and cash in to more manageable properties, the amount of money released is quite impressive.

In conclusion, 2023 is going to be a more 'normal' year, akin to the 2016 to 2019 years. Wembley homeowners need to be realistic with their pricing, yet as over eight out of ten sellers buy another home, the one you buy will be lower.

If you are considering selling your Wembley home in 2023 and would like a chat about your options, feel free to drop me a line or call the office.










Get in touch with us

First Name*
Last Name*
Your Email Address*
Mobile Phone*
Are you looking to*
Please enter message here*
Please confirm that it is okay for us to contact you about this information as well as products and services. (You will always be given the right to unsubscribe at any point in the future)*

Register for Property Alerts

Ever missed out on the perfect property just because you heard about it too late, or the Estate Agent never told you about it as it was slightly outside of your criteria? Never miss out again by using our “Heads Up Property Alerts”.

Latest Properties

Charming 3 Bedroom House with Spacious Interiors and Off Street Parking in Wembley

Guide Price

£650,000

3 Beds1 Bath2 Receptions
The Dene Wembley Middlesex HA9 7QT

3 Bedroom Semi Detached House

Off Street Parking for 2 Cars

Large Through Lounge

Spacious 2 Bedroom Flat with Off Street Parking in Wembley - Perfect for Families or Investors

Guide Price

£380,000

2 Beds1 Bath1 Reception
Scarle Road, Wembley, Greater London, HA0 4SR

Off street parking - highly sort after this close to Ealing Road

Electrics checked in 2021 - valid until 2026

Good condition throughout - full refurb in 2016

2 bedroom apartment boasting a private roof terrace with stunning panoramic views on Popes

Guide Price

£590,000

2 Beds2 Baths1 Reception
Abelard Place Popes Lane South Ealing London W5 4BZ

Striking and Contemporary 2 Bedroom Apartment on Popes Lane in South Ealing

Built in 2015 in a striking small luxury mixed development of 3 houses and 2 apartments

Private roof terrace with motorised roof access providing 360 degree views of West London

Meet Abigail

  Hello, my name is Abigail, and I am the Grey in Grey & Co. I started working here in 2002 as a Junior Negotiator and have worked my way up the ranks since then. I took over running the company in 2014 and have been enjoying the roller coaster that is leadership ever since.   During my 20 plus years at Grey & Co I have dealt with the sale of over £100,000,000 worth of property and overseen the management of assets worth £250,000,000 for clients around the world.   I also had the pleasure of working with my father, the founder of Grey & Co, for 15 years before he sadly passed away and from him, I learnt the work hard ethic and our values today are still the ones that he founded the company on all those years ago.   Be Remarkable, Be Passionate, Be Humble and Be Better.   As a community centric boutique family agency, you couldn’t find a better partner to take with you on your property journey.

Meet All The Team

So You’ve Had an Offer Accepted, What Now?

Congratulations – you’ve had an offer on your future new home accepted. But don’t rush out to buy curtains just yet. Here’s some important information about what happens next.

The Psychology of Successful Tenancies

How can you encourage tenants to settle long-term in your rental? A report compiled by consumer psychologists claims to have the answers.

January 2025 Property Market Update

Let's look at what's happening in the property market at the end of January 2025. And ask, is now a good time to buy or sell?