The London property market
“Demand for property in London remains strong and we have not noticed hesitation in the market, despite what others are saying,” says Andy Shepherd, Dexters Chief Executive.
Sales market update
“Our local experts across London are dealing with high demand from both buyers and tenants, in fact we are currently working with over 70,000 people keen to find a new home in the capital.”
“Our New Homes experts are now advising on the marketing and sale of over 100 projects across London including BRX in Brixton and the over-station development, Twickenham Gateway. The launch of the 96 apartments at BRX was a terrific success with 15 reserved over the first weekend alone and with many more having been secured since,” says Andy. “More recently all of the talk has been about Twickenham Gateway, a major development of 115 apartments that we are marketing for Solum, a joint venture between Kier and Network Rail. On launch day of phase one, almost 100 viewings were carried out with seven apartments reserved on the spot and more interest generated.”
“Our network of 70 offices across the capital, including 35 in central London, are reporting strong levels of buyer enquiry from all over the world. Our dedicated Corporate Lettings and International Relocation team, based in Mayfair, are receiving over 200 enquiries every week,” says Andy. “All of this activity is resulting in up to 45,000 viewing appointments being arranged with Dexters every month.”
“Online only marketing is an option some may be considering, and whilst it may look to be a cost saving exercise, it’s a high risk strategy,” says Andy. “We know Dexters is the ultimate online Estate Agent in London as we regularly have more London property on Rightmove than any other agent and our own website attracts well over 200,000 visits every month. For Dexters clients, this unmatched marketing strength is combined with local offices that are brimming with intimate knowledge of their areas and talented professionals who work hard for London’s sellers and Landlords. The internet cannot replace the necessity of human contact in property transactions, and having an entire team dedicated to the sale of your property is invaluable. In fact, we often sell properties without using any digital marketing at all, this ‘off-market’ low-profile approach is a service we call our ‘invisible properties’, and it can suit both buyer and seller who appreciate this discrete approach.”
“Dexters is in touch with 160,000 customers at any one time, and we are incredibly proud of what we have achieved over the years. We look forward to what the summer has in store and expect this to be another sensational year for us and our clients.”
If you are considering selling your property or would like an update on your local market, we would be delighted to hear from you. Please click the link to make contact with your local Dexters office.
Lettings market update
“As we head into the busiest time of the year for London lettings, all our offices are reporting increased activity from both private and corporate tenants. In the past 12 months we have seen an average 4.9% increase in rental prices across the capital as demand for rental properties remains strong,” says Alex Harrington, Dexters Group Lettings Managing Director. “This summer we expect to achieve record levels of rent as our highly experienced lettings experts provide Landlords with the best advice on all aspects of letting property.”
“Whilst we specialise in long term lettings, our expanding Short Lets department, based in Mayfair, has been dealing with an increasing number of enquiries - from those looking for temporary accommodation while their usual residence undergoes renovation or repair, to those needing a space to call home while in the capital for the forthcoming Cricket World Cup,” says Alex. “Meanwhile, our dedicated Corporate Lettings and International Relocation team, who handle more than 10,000 enquiries every year, have been assisting large companies to house staff in London. Some of the companies we have assisted recently include Sky, Microsoft, Deloitte, Tullow Oil, Bloomberg, PWC, HSBC, Bain & Co., AIG and Dunnhumby.”
“We have seen a significant increase in lettings transaction numbers year-on-year, which is attributable to the dedication of our local offices who work tirelessly on behalf of over 25,000 Landlords who use us as their trusted lettings and management agent,” says Alex.
“Our Landlords quite rightly expect us to be absolutely on top of the rules and regulations associated with letting a property. There are now over 160 pieces of legislation for Landlords to comply with and, as a managing agent, we take on all responsibilities and can offer detailed advice on any related subject.”
If you are considering letting your property or would like an update on your local market, we would be delighted to hear from you. Please click the link to make contact with your local Dexters office.
Thinking of Selling or Letting? Find out the value of your property