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City workers return to the office

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For over 40 years Frank Harris & Co. has been selling and letting property in this desirable area. With our three offices full of local experts spending on average 180-200 hours finding you the best buyer or tenant, it’s no surprise that two thirds of our business come from word of mouth referrals and returning clients.

‘Many workers in the City of London have returned to their office desks and paired with low interest rates on mortgages increasing buyers budgets to purchase, the market is incredibly active at the moment,’ says Tina Evans at Frank Harris & Co. ‘We’ve successfully sold more property in the last six months than the whole of 2020. Our buyers are a mixture of overseas investors, professional couples and families. Throughout the years there has been a noticeable change in properties being built and converted into larger apartments for families rather than just for Pied a Terres, this benefits those wanting the luxury of walking to work. When launching a property onto the market, first impressions count so ensuring the property is well presented and clutter free is crucial, we also advise sellers to instruct a solicitor as soon as possible as this organisation can save time. Our advice for buyers is similar, make sure you have a good solicitor and that your finances are in place as this allows you to be presented in the best possible light to the seller. As more professionals return to working in the city, we expect to see an increase in demand and will undoubtedly finish 2021 in a strong position.’

‘As more professionals return to work in central London as well as students looking to secure a property for the academic year ahead, the lettings market has been exceptionally busy,’ says Tony George at Frank Harris & Co. ‘As a result of this, competition for property has been intense with multiple offers and we are regularly achieving the asking price or more. Our typical tenant includes professional couples, corporate tenants relocating and students. Over the years we have witnessed tenants demand for a higher quality of property and in order to meet this demand, landlords must invest in their properties to remain competitive with new build properties coming to the market. Regular upgrading and refurbishment is essential for us to achieve the best possible price for our landlords. 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 are highly favourable for landlords and tenants alike as the stability it brings benefits both parties. For example, one of our successes in recent months includes securing several three year tenancies for one of our landlords with a portfolio of properties who had previously only considered letting their properties one year at a time. Some sellers may choose to list their property on the lettings market to take advantage of the incredible prices we have been achieving. We fully anticipate this busy market to continue as we head into the last few months of the year.’

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.

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