With Donald Trump announcing his so-called ‘Liberation Day’ tariffs yesterday, including 10% on British imports to the USA, many sectors are mindful of coming pressure, with the threat of an international trade war looming particularly large.
But what does it mean for the property market in SE24?
Turn on the News today, we will see lots about trade tariffs and hear plenty of talk about economic impacts.
It isn’t a property market story – but we have to face up to the reality that the health of the property market, and the South London property market included, is intertwined with the health of the economy – and that’s why it matters to us to talk to you – our fellow local Herne Hill residents – about how it could leach across to impact the local property market here in this vibrant slice of London.
These tariffs may slow economic growth and are likely to drive inflation upwards in the short term, which could stall further base rate cuts – and in fact, we have to be prepared for those recent rate reductions to be reversed, if not the base rate then undoubtedly mortgage rates. Of course, that has a direct effect on property purchases.
Nevertheless, the property market is resilient – and besides which, we have just experienced a bumper first quarter in 2025, with demand significantly higher than it was this time last year.
Our local property market has weathered periods of economic uncertainty in the past, thanks to strong underlying demand, a limited local housing supply, and the continued appeal of homeownership and investment here. Schools like the Judith Kerr will continue to draw families, and with local employment being as strong as it is, coupled obviously with the quick and easy access we have to Central London, professional tenants and working-age buyers will continue to flock to our area.
We might see shifts in buyer behaviour, and the knock-on effects from the inevitable increase in our cost of living. All this plays a part in a property buyer’s decision making.
But, chaotic as the headlines and media coverage may seem, these tariffs will also open up opportunities. These things always do.
Sellers who are willing to stay ahead of the game and price sensibly will attract solid buyers without any doubt at all – and local landlords will always benefit from a market where tenants look for security and stability – that is par for the course when a market finds itself adjusting to new economic conditions.
As always, markets will adapt, and at Petermans we have our finger on the pulse locally to stay ahead of the game ourselves, keeping you informed about the local Herne Hill property market as it ebbs and flows.
For professionals and investors alike, staying informed and agile will be key. Yes, these tariffs will bring headwinds, but they also usher in new dynamics to navigate and new opportunities to seize.