Kennington Sales and Lettings Market Insights for Q2
Market Update: Kennington Q2
With the rather slow start to Q2 for both sales and lettings, the hope for a U turn on stamp duty increases and a date being given for the ban on lettings fees; all of these factors were set to have an impact on the market. However, none of these materialised. Spring has now well and truly 'sprung', bringing with it a fresh market of tenants, buyers and sellers and all with a 'business as usual' attitude. We have seen a steady influx of very good stock in recent weeks, which in turn has obviously attracted very solid buyers and tenants.
In Q1 we found that buyers were reverting back to trying to find their ideal property before starting to market their own. We could still advise against this and to get yourselves into a position of being able to move swiftly. If you are up against another interested party and you are in a position to move fast, you will be far more attractive to the vendor.
The Kennington area is well known for its stunning Georgian architecture and beautiful garden squares as well as its fantastic location, being walking distance from many central London locations. It is also nestled between two of the largest development projects in recent London history - Nine Elms (home of the American Embassy) and Elephant & Castle. Both areas are enjoying massive amounts of regeneration and huge spend on infrastructure, including a new tube station which is part of the Northern Line extension to Battersea Power Station. Vauxhall is also benefitting from the areas regeneration and is having major works on the Vauxhall Gyratory including the Cycle Superhighway.
If you are looking to buy or rent in the area then please let us know, as we are seeing new properties daily. If you are considering selling or renting out your property in the near future, we may already have the perfect person for your property. For further information on what your property might be worth or to have a chat about the process and what we can do to help, contact our Branch Manager, Ian Boardman.