Autumn 2022 market comment

Autumn 2022 market comment

The London property market

Dexters' vision to change the common perception of Estate Agents was born 29 years ago. Now, as London’s leading independent Estate Agent, the company continues to deliver a first-class service to the capital’s homeowners. Andy Shepherd has been at the forefront of the award-winning business for almost three decades.

Market update

“With London busier than ever, we are growing stronger year-on-year by investing in our people and our London offices. Dexters has 12 offices in prime central London and over 70 across the capital, giving us an unrivalled network of local experts and access to a wide selection of buyers and tenants,” says Andy.

“At any one time we are in contact with over 200,000 customers and this year has been very busy as we continue to focus on achieving the best results for our clients. We are currently arranging up to 50,000 viewing appointments every month, which means we are showing a property every 15 seconds during our working week. This level of activity is down to the hard work of our teams. London is globally regarded as a safe investment so buyers and investors are taking a long-term view, and more and more are choosing Dexters to help.

“Our Lettings teams have already broken all records this year. We are now the ‘stand out’ agent for the very best London property and we attract quality tenants from London and around the world,” explains Andy. “We encourage longer-term tenancies, creating long-standing relationships with the 30,000 Landlords we work in partnership with. Our Corporate Lettings and International Relocation team handle over 200 enquiries each week from global blue-chip companies looking to relocate employees to London and from overseas buyers looking for investment properties.

“Tenants across London are supported by Dexters' award-winning Property Management team and are reassured that Property Managers are never more than 15 minutes away. Dexters provide a rapid response to any issues that may arise during the tenancy. Over 200 Property Managers work in our London offices caring for individual houses, flats as well as whole blocks, estates and portfolios.”

The sales market has also been incredibly active. “There have been conflicting predictions about London property sales this year but we have been taken aback by the very healthy demand,” says Andy. “Our website now attracts over 100,000 visitors every week, so we can really make things happen for our clients with this level of exposure.

“New Homes are a critical ingredient for London’s future success and a vital part of our business. With the supply of property still a long way behind demand, there remains an urgency to London's house building efforts. Dexters specialise in residential schemes, advising developers and investors on their acquisition and sale, ranging from build-to-rent to luxury apartments and family homes.

“When looking for the key to all of this activity and success for our clients, you need look no further than our people,” Andy continues, “We invest in long-term relationships which means many colleagues stay with us throughout their careers, with 90 per cent of our managers having started as trainees. Dexters is one of London’s only major residential Estate Agents that is a firm of Chartered Surveyors, regulated by the Royal Institution of Chartered Surveyors (RICS). This provides our customers with the reassurance of working with experts who adhere to the highest standards of regulation and ethical behaviour.”

Intrinsic to this is the fact that Dexters runs its own Training Academy, based in Pimlico. “We established the Dexters Academy to make sure that our standards always exceed even the highest expectations,” explains Andy. “Our industry experts provide ongoing training and coaching to colleagues at all levels. We are delighted to be recognised as the UK’s first Estate Agency providing Ofsted regulated professional accreditations, as well as further qualifications up to RICS level.

“All this hard work in these areas pays off in the form of happy clients and customers. Across the company we have 40,000 Google reviews with an average rating of 4.9 out of 5 stars. In addition, 70 per cent of new business comes to us simply through word of mouth recommendation, which we are very proud of.

“We have every confidence in the future of the London property market and are excited to be playing our part in it,” says Andy. “It is looking like another record-breaking year for Dexters as we continue to work hard and 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.