News
Autumn OutlookSitting here in London towards the end of the summer and it is interesting to reflect, that whilst August is always considered a quiet month, this year has been particularly so. The change in market conditions over the last 12 months has been remarkable and I think has taken many buyers and sellers by surprise. It has been barely 18 months since the property market reached it’s lowest point and since then, prices seem to have rebounded to their pre-recession levels and in some cases, surpassed them. Whilst it seems unbelievable that the recovery has happened so quickly, the signs are there that property in Central London is still a pretty safe bet. Oliver Lurot - Sales Director |
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Indian SummerAugust was exceptionally busy and we have enjoyed a buoyant late summer with no sign as yet of it abating. With a continuing demand for properties in Central London, we have concentrated on bringing more instructions onto the market. It is interesting to see that pockets of Lurot Brand’s key areas experience cyclical popularity and as a result rents fluctuate accordingly. In the last couple of months it is W2 (more specifically the Hyde Park Estate) that has seen demand soar and conversely supply fall which is having a positive effect on the rents achieved in Paddington and Lancaster Gate as a result. We have seen 2 and 3 bedroom mews houses in the area go for 20-30% more than they did 12 months ago regularly achieving over asking price thanks to several interested Parties. South Kensington and Kensington is definitely holding its own though with properties achieving around 15-20% more than they did in 2009. As a prospective Tenant it may seem rather daunting as it is clear that your money will not go as far and for now it is Landlords that are reaping the rewards. It is not all bad news though – just be more flexible with your requirements, be prepared to offer on a property that you like immediately and most importantly keep in regular touch with your Negotiator. At Lurot Brand we pride ourselves on providing a comprehensive search service so if we do not have the right property for you, we can contact other agents on your behalf and find you the right property without you needlessly contacting many agents. We look forward to being of help! Lajla Turner - Lettings Manager |
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