Market Update: February 2019

Recent reports from property portal Zoopla and industry analysts Twentyci both showed that, whilst the property market in London and the South East has its challenges, both volumes and prices are holding up well despite the uncertainties of Brexit.

The reports also showed that the wave of new “online” estate agencies” were losing market share in the same territories and across the UK on properties with values in excess of £200,000.

In recent weeks a number of these businesses have either gone into administration or have posted unsustainable losses and, on the basis that they generally take their fees from clients “upfront” many homeowners are clearly finding that the promise of a low-cost sale is actually turning into the nightmare of lost money and no sale.

As a traditional estate agent who combines both branch office, experienced local staff and extensive online marketing, we have always believed in delivering service and performance that only gets rewarded on the successful conclusion of a transaction.

Interestingly the Zoopla report showed a measurable increase in the number of people looking to both buy and sell in 2019 (by as high as 7% in London) and that, therefore, any reports of loss of confidence are overstated. The rental market also remains strong with Zoopla’s report showing that 23% of renters think they will be renting indefinitely and with 63% hoping to purchase at some future date.

Over 21% of current renters surveyed are currently actively looking to buy.

The report listed the challenges facing landlords as:

  • Finding suitable tenants – 56%
  • Tenants looking after property – 55%
  • Tenants paying rent on time – 47%
  • Keeping up with increased regulation – 39%
  • Concerns over future changes to legislation – 36%

Of course, all of these concerns can be eradicated or mitigated by having your rental property managed by ourselves and our managed services provide cost effective peace of mind to look after and help you maximise the benefits of your investment.

As an experienced business with an experienced team, we know our local markets and take time to understand our client’s situations and the wider economic, social and legislative factors that impact upon them. Consequently, our track record of success in helping people sell and buy, let and rent is impressive.

If you are looking to make a property move in 2019, please call us and we shall be delighted to help you.

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