Market Report

Recent reports from property portal Zoopla and industry analysts Twentyci both showed that, whilst the property market in London and the South East has its challenges, both volumes and prices are holding up well despite the current, well publicised, uncertainties over Brexit.

The Zoopla report highlighted a measurable increase in the number of people looking to both buy and sell in 2019 (by as high as 7% in London) and that, therefore, any reports of loss of confidence are overstated.

At Anthony Pepe, our experience in the first weeks of 2019 echoes those views and, whilst the sales market is undoubtedly price sensitive, there are plenty of motivated buyers willing to transact.

Our unique Prime marketing service is proving a real winner with sellers as it boosts the coverage and chances of finding a buyer and is securing demonstrably higher prices. If you are thinking of selling, just contact your nearest office and we shall be only too pleased to provide advice on the best way for you to achieve the move you seek.

The aforementioned Zoopla and Twentyci reports also showed that the wave of new “online” estate agencies” were losing market share across London and the UK, particularly on properties with values in excess of £200,000.

In recent months a number of these businesses have either gone into administration or have posted unsustainable losses and, on the basis that they generally take their fees from clients “upfront”, many homeowners have found that the promise of a low-cost sale has actually turned into a nightmare of lost money and no sale.

As a traditional estate agent who combines branch offices, experienced local staff and extensive online marketing, we have always believed in delivering service and performance that only gets rewarded on the successful conclusion of a transaction.

Our overriding view is that, despite uncertainty over Brexit, there is an underlying desire to “get on with life” and more and more people are doing just that. Many, who had previously delayed their moving decisions, are not willing to wait any longer and are taking steps to sell and buy.

The rental market also remains strong with Zoopla’s report showing that 23% of renters think they will be renting indefinitely and 63% are not looking to purchase until some future date.

Rental values have hardened and, particularly on a good quality property, are showing signs of increasing with more and more higher earning professionals looking to rent for longer periods.

Well-presented and maintained properties are commending premium values and, with the gulf in rental value between average and top-quality homes widening, now is a good time to invest in ensuring your property is presented at its best to attract the best tenant and a premium rent.

The Zoopla report listed the five biggest challenges facing landlords as:

Finding suitable tenants – 56%
Tenants looking after property – 55%
Tenants paying rent on time – 47%
Keeping up with increased regulation – 39%
Concerns over future changes to legislation – 36%

Of course, all of these concerns are eradicated or mitigated by having your rental property managed by ourselves and our services provide cost effective, peace of mind that will look after and help you maximise the benefits of your investment.

Finally, as an experienced, multi award winning business, with an exceptional team, we know our local markets and take time to understand our client’s situations and the wider economic, social and legislative factors that impact upon them. Consequently, our track record of success in helping people sell and buy, let and rent is impressive.

As always, we are here to help and look forward to doing so.

Yours

Charlie Perdios
Managing Director