The London property market
"The demand for London property remains very strong and now has extra impetus following the result of the recent General Election. Our local experts in our offices across the capital are seeing high demand from both buyers and tenants who are keen to move," says Andy Shepherd, Dexters Chief Executive.
Market update
"In fact, we have over 80,000 people registered currently looking for a new London property. This results in us carrying out some 45,000 viewing appointments every month, equivalent to showing a property every 15 seconds during our working week. We receive enquiries from all over the world and have a specialist Corporate Lettings and International Relocation team based in Mayfair, who handle over 200 searches a week. These are from major global companies and institutions many of whom now deal with Dexters exclusively when relocating employees into London."
"Our lettings teams are extraordinarily busy, working in partnership with the 27,000 Landlords who trust us to look after their property investments. We have seen a 19% increase in homes let by us over the past year and have also seen rents increase by an average of 5%. We know that Landlords are staying invested in the capital, reassured by both increased rents and the prospect of long term capital gain."
More and more Landlords are taking advantage of Dexters dedicated Property Management service, particularly as corporate tenants prefer to live in a fully managed property. "We have over 200 Property Managers who work across our London offices caring for both individual houses and flats as well as whole blocks, estates and portfolios. Our Property Managers are all located within 15 minutes of the properties they look after, ensuring a rapid response to any issues that may arise," says Andy.
The sales market has also been incredibly busy. "We were taken aback in 2019 by how strong the demand was from buyers eager to own London property and this has only increased since the General Election," says Andy. "Our expanding New Homes team are advising on over 100 new development schemes across the capital and are seeing healthy demand. For example BRX in Brixton, which we launched last March for Network Homes, has been one of the fastest selling developments of its kind."
"2019 was another record breaking year for us and we are continuing to expand and strengthen all aspects of our business as we have every confidence in the future of the London property market," says Andy. "We work hard for our clients, combining the strength of our network of offices, with intimate local knowledge. We are looking forward to an exciting year ahead as we continue to deliver the results our clients and customers have come to expect."
If you are considering selling or letting your property or would like an update on your local market, we would be delighted to assist. Please click the link to make contact with your local Dexters office.