Westminster Lettings and Sales Insights for Q3 2017

Westminster Lettings Market Update 

Thankfully the Lettings market in Westminster over the summer has been more consistent than the weather we’ve been experiencing, with successful rentals across all price points being achieved. Tenant enquiries and corporate searches are coming from all corners of the globe which shows that London is still a hot bed for talent and opportunity in these apparently turbulent times.

September is traditionally the golden month for Landlords and we expect it will again, but this doesn’t necessarily mean achieving 10% above the normal rate. It is more the combination of factors such as choosing between multiple offers and getting the terms and Tenant profile they prefer.

Searching tenants don’t get it too easy themselves at this time of year, the best properties will go between 6 to 8 weeks before being available to move in and competition is at its most fierce. It would advisable for tenants to get out there early with a firm grasp of where they want to be, how much they will pay and what they will compromise on.

If you are considering letting your Westminster property in the near future, we may already have the perfect tenant waiting for it. For further information, or to have a chat about much your home might be worth, contact Douglas Booth (Lettings Manager).

Westminster Sales Market Update

Confidence is back in the Westminster residential sales market, with an increase in buyer activity. We are delighted to report an uptake in property viewings, offers, agreed sales and exchange of contracts. We have also had more invitations for market appraisals in the local area with potential vendors noticing a restored confidence.

Buyers are from all nationalities and backgrounds, with an increase in domestic British based purchasers who feel it is time to resume or start their property search.

Buyers are increasingly attracted to live or invest Westminster, due to its excellent location, being walking distance to the river Thames, the West End and Sloane Square, with superb transport links and surrounded by world famous landmarks such as the Houses of Parliament, Buckingham Palace and Westminster Abbey.

If you are considering selling your Westminster property in the near future, we may already have the perfect buyer waiting for it. For further information or to have a chat about what your home might be worth, contact Amir Ghomshei.