Chat GPT vs Local Market Knowledge
Happy New Year and welcome to our January newsletter. We’ll update you on the latest market news and give our professional advice when it comes to buying and selling.
Chat GPT vs Local Market Knowledge
I asked Chat GPT about the property market in Ealing over the past month and I have to say I’m very impressed with its efforts. Have a read of the article below and I’ve added our lived experience to see how it stacks up with interesting results.
Certainly, here’s a blog post about the property market in Ealing over the past month:
The property market in Ealing has remained stable over the past month, with some fluctuations in prices and demand. Ealing is a popular area in West London, known for its excellent transport links, green spaces, and vibrant community. The diverse range of properties in Ealing means there is something to suit everyone, from first-time buyers to families and investors.
According to recent data, the average property price in Ealing is £636,405, a slight increase of 1.2% compared to the previous month. This increase can be attributed to a rise in demand for properties in the area, particularly from families looking for larger homes with outdoor space.
The demand for larger properties in Ealing has led to a decrease in the number of properties available on the market. This shortage of supply has resulted in a competitive market, with some properties receiving multiple offers within days of being listed.
The most popular properties in Ealing continue to be three and four-bedroom houses with outdoor space. However, flats and apartments are also in demand, particularly those with balconies or access to communal gardens. The popularity of properties with outdoor space reflects the desire of buyers to have more space and access to green areas, especially after the pandemic and the rise of remote work.
Despite the rise in demand for larger properties, there are still opportunities for first-time buyers in Ealing. The area has a good selection of one and two-bedroom flats that are reasonably priced, although the competition for these properties is also high.
Overall, the property market in Ealing has remained strong over the past month, with a slight increase in prices and a shortage of supply. Buyers looking to purchase in Ealing should be prepared for a competitive market, particularly for larger properties with outdoor space. However, the diverse range of properties in the area means that there are still opportunities for buyers at all price points.
I concur, the market has without a doubt stabilised after a brief but significant downturn following the disastrous mini budget which caused mortgage rates to sky rocket. It seems they are on the slide now and buyer sentiment has definitely improved (perhaps we’re over the worst?) On the price front in Northfields and surrounding we’ve seen some adjustment down but prices are still up approximately 5% from 2021 which is positive. I’m not sure we are going to see continued price rises this year but a stable market will be welcomed for many as it will facilitate home movers both in and out on the area and ultimately it’s all relative. We’ve also seen a sharp increase in buyer registrations, new properties coming to market and offers compared to the first two weeks of January. I believe there are many reasons we’re thriving in this slightly tougher market and in summary it’s because our clients appreciate we go the extra mile in everything we do and continue to look for new ways to improve. We can’t do it without having a sizeable and outstanding sales team and they are really what makes the difference. Although I’m certain AI is going to play a significant role in the way we do business, you can’t beat first-hand experience with a finger on the pulse of the local market which currently wins every time. That’s just good old-fashioned forward thinking.