We’re now in February… the month of love. There were times last year when it seemed we in the UK might have been losing our passion for the property market, holding back… unsure how we felt… it wasn’t just buyers, it was sellers too.
Now armed with a degree of certainty over our futures, that pent-up demand is starting to be released onto the market. It’s not just us feeling it, the commentators are reporting the same thing – take a look at these headlines:
Daily Telegraph: ‘Brexit sparks housing boom in capital, with estate agents reporting highest buyer interest in 15 years’
Guardian: ‘UK house price growth at 14-month high, says Nationwide’ Independent: ‘UK housing market: Asking prices see record hike after election released “pent-up demand” BBC: ‘Estate agents report “uplift” in housing market’
Before everyone gets too carried away though, these are headlines written to sell news. The facts of the matter are currently a little less frantic in West London. Yes there is a more positive feeling out there – no doubt about it – it is just going to take some time for the West London market to re-calibrate. There are some excellent buyers in the market and more properties are being put on the market so we are definitely seeing more activity than in 2019 but it is more of a gentle and healthy pick up rather than a bounce.
The rental market has started the year in the same way it ended the last; with stock shortages and rising rents. This is good news for landlords but less so for tenants. It’s a situation that is unlikely to change because Landlords are leaving the market. There is even more legislation due this year with minimum EPC requirements and new Electrical Tests for all rented properties along with consultations on how to end tenancies fairly. We will keep you up-to-date as it all happens.
Our international team, enjoying the blue Riviera skies, are reporting strong activity in Monaco and are pleased to present this new, sensational office building with excellent outside space for employees to rejuvenate throughout the day. The property is available to either buy or rent.
If you’re thinking of moving, now is probably one of the best times to do so for quite a while. So, give us a call and we can get you on the market as soon as possible.
All the best for the last month of winter! Stay strong and healthy – spring will soon be here!