Dexters Summer 2023 market comment

Summer 2023 market comment

The London property market

Confidence in our thriving city remains strong as we experience yet another busy start to the year. Our dedicated teams are going the extra mile to meet these high levels of demand, and are focused on consistently delivering a first-class service to the 300,000 customers and clients that we support on their property journey.

Market update

Andy explains, “The market is incredibly active and buyers are choosing to press on with their planned moves, not deterred by what they are reading in the press. As a business, we are carrying out up to 50,000 viewing appointments every month, the equivalent of showing a property every 15 seconds in the working week. Homeowners and investors agree that London remains a brilliant long-term investment, and are jumping in with offers where they see good value, location or both.”

The prime central London market has experienced considerable growth, with an influx of overseas buyers creating high levels of competition, as reported by Dexters’ prime network. Andy continues, “With offices situated in 12 key locations including Mayfair, Chelsea, and South Kensington to name a few, we are well positioned to meet the needs of our high-net-worth clients.”

In recent years, appetite has been growing for super prime properties, rarely available to the market. Dexters works exclusively with Wetherell, the leading Mayfair agent, with a reputation for selling and letting the capital's most desirable homes.

Andy adds, “When promoting an exclusive property, we offer our client’s maximum exposure on a global scale by working closely with the world’s press. Our Marylebone office were recently instructed to sell a historically interesting home in excess of £12m, which secured an exclusive with The Times and went on to be promoted in major titles including Tatler.”

The lettings market has continued to move forward with pace. Andy says, “In comparison to this time last year, the number of tenants looking for their next home through us has grown by over 40 per cent. In addition, Dexters Corporate Lettings and International Relocation team are receiving 200 enquiries each week from embassies and major corporations looking to relocate their staff. With more than 70 per cent of tenants choosing to renew their contracts, coupled with a shortage of good quality property, London is crying out for more landlords.

“For the secret to our success, look no further than our people,” Andy explains. “We invest in long-term relationships which means that many of our colleagues stay with us throughout their careers - 90 per cent of our managers started with us as trainees.”

Dexters is one of the only major residential Estate Agents that is a firm of Chartered Surveyors, regulated by the Royal Institution of Chartered Surveyors (RICS), upholding their worldwide reputation for integrity and professionalism.Dexters is determined to maintain its professional approach by providing outstanding training and development. Colleagues at all levels attend Dexters’ industry-leading Training Academy and are proud to be the UK’s first Estate Agency employer provider, offering a range of professional accreditations.

Andy continues, “Key to delivering these principles is the outstanding training and development provided to our colleagues of all levels at our industry-leading Training Academy in Pimlico.” Dexters is proud to be the UK’s first Estate Agency employer provider, offering a range of accreditations, giving our customers the confidence that they are working with trusted experts.

“We work with the sentiment that nothing is too much trouble and our clients and customers should never have to ask twice, ensuring we go the extra mile to deliver a first-class experience.” Andy continues, “But don’t just take our word for it, we have over 50,000 Google reviews averaging 4.9 out of 5 stars, a testament to the dedication of our talented teams.”Dexters comes highly recommended having received over 50,000 Google reviews with an average rating of 4.9 out of 5 stars. “This is a testament to our teams who live and breathe our ethos that clients and customers should never have to ask twice. Our colleagues always go the extra mile to deliver a first-class experience which is why our clients and customers love to recommend us.”

If you’re planning a move in the current market, you need an agent you can rely on, one who is experienced and prepared to put in the hard work needed to succeed. This combination, together with the scale of the business, helps to ensure Dexters continues to deliver the results our clients and customers have come to expect. We are looking ahead with great optimism and have every confidence in the future of the London property market.

If you’re considering selling or letting a property in London or would like some market advice, please contact your local office and one of our Directors will be pleased to advise you. Full details can be found at Dexters office.