Although we are optimistic about 2013, this year has got off to a slower than expected start. With market trends straying from ‘the norm’, we have found a dramatic increase in demand for studio and one bedroom properties, as opposed to last year where two bedroom properties were the most popular. We are anticipating that the larger properties will not start to feature on the market until Spring time as we move towards a faster-moving market and it is apparent that enquiry levels for houses available come March / April are rising. Realistic rents and high quality properties are being let in quick succession and we recommend that Landlords take note of their agent’s advice if any improvements need to be made and most importantly their guidance on price. A true example of the success of this strategy is a property in Courtfield Gardens, sold through our sales department, which we recently let in just three days due to the high standard of presentation and correct pricing. First time investors are at their highest level in over a year due to attractive yields, low interest rates and an opportunity to supplement their income. The flourishing number of Landlords and therefore increasing stock has caused rental prices to remain static in central London. However, we have noted that properties of good quality and presentation have been rented at a premium rate. Tenants are becoming increasingly savvy to trends in property prices and as a result they are negotiating harder when it comes to renewal prices - overall 90% of rents are remaining the same. Hasty decisions in terms of re-letting can be uncertain as, due to the increase in stock levels, Tenants have many more options available to them. We would advise Landlords to be realistic of the rental amount achievable for their property. As with any investment, property owners in the private rented sector should not be disheartened by the current static state of the rental market as they will still see the benefit of capital value growth. - See more at: http://www.winkworth.co.uk/estate-agents/south-kensington/office-blog#sthash.q9PfIz1v.dpuf
The number of buyers purchasing a property with cash is on the up. If you wanted confirmation, you only have to look to the Council of Mortgage Lenders (CML), which calculates that last year there were some 370,000 cash sales, 25% higher than in 2009. Over the last few years, the number of cash buyers has been on the rise. During the depths of the...
March 26, 2014
Although we are optimistic about 2013, this year has got off to a slower than expected start. With market trends straying from ‘the norm’, we have found a dramatic increase in demand for studio and one bedroom properties, as opposed to last year where two bedroom properties were the most popular. We are anticipating that the larger properties will not start to feature on the...
February 12, 2013
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