Over the past year, the rampant growth in the sales market has seen some London boroughs report a 20% increase on property prices as buyers chased the short supply of homes available in the capital. However we could see this frenzy finally fizzling out as early indicators suggest there has been a slowing down of prices since June. If you are considering a move, why not take a look at our property of the week, a beautiful three bedroom duplex apartment, perfect for a family.
Moving on to the rental market. We have seen a slight increase in activity moving through September due to college placements and job opportunities but from our perspective, the market remains somewhat unsettled. Government restrictions on visa applications are having a direct impact as fewer people are arriving in London to take up rental properties and we believe this will have an effect over the coming months on rental prices in the private sector. At the same time, prospective purchasers currently renting have found themselves extending their tenancies as house prices escalated and buyers from overseas snapped up properties across London pushing local buyers aside.
Here at Property Divas, we are also busy overseeing a number of rejuvenation projects prior to letting, as ‘suited and booted’ is fundamental – not just aesthetically but compliance-wise. We strive to ensure that our clients sleep easy, safe in the knowledge that their property is in good hands. Read our tips on making the right first impression here.
We hope you have a wonderful month, and as always, please feel free to pop in the next time you are passing, the Divas would love to see you!