Kennington Sales and Lettings Market Insights for Q3 2019
Generally, the summer months are very quiet in the sales market, but we have seen continued activity throughout July and heading into August. Generally, September is a natural starting point for new jobs and people moving on with new life decisions, so it is typically one of the busiest times for the sales market. The market is very ‘erratic’ at the moment with bursts of activity one day, and very quiet the next. With sales of large houses happening frequently which is ‘bucking the trend’ across London currently. We have also noticed this year, that more and more people are moving to Kennington from the surrounding areas, as well as other parts of the UK, as Kennington becomes more established and desirable. You only have to take a look at our website to see some of the most stunning homes in the area.
The sales market in general has continued receiving a huge amount of discouraging press. Something we certainly do not seem to be experiencing in Kennington. We have been achieving very solid prices for our clients throughout 2019. There are exceptions to this, but they tend to be sales of ‘duress’.
The lettings market has been incredibly busy throughout summer, and is continuing through September. We have been experiencing multiple bids on most properties we have marketed recently. If you are considering renting out your property, please do get in touch!
The Kennington area is well known for its stunning Georgian architecture and beautiful garden squares, aswell as its fantastic location, being walking distance from many central London locations. It is also nestled between two of the largest development projects in London in recent 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 the Battersea Power Station.
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 in the near future, we may already have the perfect buyer for your property. For further information on what your property might be worth and to have a chat about the process and what we can do to help. Please do not hesitate to contact our Sales Manager, Ian Boardman.