An extremely busy end to the year
Frank Harris & Co. has a network of four offices which focus on delivering professional and personalised sales and lettings service to local residents. Our local experts spend on average 180-200 hours finding the best buyer or tenant for your property.
‘We currently have a large percentage of buyers looking to purchase property before the end of the year,’ says Tina Evans at Frank Harris & Co. ‘Many of them are City professionals who want to be within walking distance of work as well as families taking advantage of excellent schools and nurseries in the area. We are advising sellers to dress the property and ensure it is well-presented. It’s also important, at the start of the transaction, to instruct a solicitor and complete the relevant forms. Equally, we advise buyers to have their finances in order including a mortgage in principle if necessary. We recommend speaking with our mortgage advisors for a second opinion, they can check if you are getting the best rate. The market is still incredibly busy, especially in our most popular locations like the Grade II Listed Barbican Estate. There has also been a noticeable increase in buyers registering for properties in the Old Street area. Where the new infrastructure, high-rise buildings, bars and restaurants have proved incredibly popular with prospective buyers. There continues to be demand for larger properties in the Square Mile part of London, and with little supply of this kind of property coming to the market, we’re expecting to see prices rise in 2023.’
‘The lettings market has been extremely busy with applicants offering above the asking price in order to secure a property,’ says Ryan Morgan at Frank Harris & Co. ‘The demand is outstripping supply so there’s never been a better time to let your property. We are constantly in touch with a great number of tenants from corporate backgrounds or from overseas who are relocating to London for work and study. We strongly advise landlords to invest in their portfolios as we find the best-kept properties attract good-quality tenants who are looking to make the property into a home. Due to the current nature of the market, we are advising tenants to react quickly if they find a property they like, chances are they’re not the only interested party. Also, long-term tenancies can be more favourable for landlords and tenants alike as the stability it brings benefits both parties. We recently let a property in Parfett Street and successfully secured the landlord a substantial annual price increase over the course of a three year tenancy. The landlord was thrilled with the service provided. We’re expecting a strong end to the year as we head into the last few months and we will remain busy as we start preparing for the January market.’
If you would like an update on the local market, or if you are considering selling or letting your property, please contact your local Frank Harris & Co. office where our team will be happy to help.