Strong demand from buyers and tenants
Autumn has arrived and Frank Harris & Co. is hard at work talking with increasing numbers of buyers and tenants eager to live in central London. Having been active in the area for over 40 years we know the locality inside out and find that buyers and tenants come to us first as a reliable and established Estate Agent.
‘This autumn we have remained incredibly busy agreeing sales with demand still strong and a constant supply of new properties coming to the market as sellers look to upsize locally or relocate,’ says Alison Battrick, Sales Director at Frank Harris & Co. ‘We have noticed buyers are placing more value on a comfortable area to work from home along with outside space. The stamp duty holiday has certainly accelerated individual’s decisions and plans to move and we have seen an increase in activity across the board. Some buyers are seeing this as a fantastic opportunity to save on the cost of moving whilst others are using these savings to enable them to purchase at a higher level. Sellers want to take advantage of this market too and we are seeing many homes receiving multiple offers, selling over the asking price, or both. Now has never been a better time to sell your property.’ Our advice to sellers and buyers is to ensure they are fully proceedable and prepared with solicitors and financial arrangements in place.’
‘The lettings team have noticed a buoyant market this autumn as people have had time to reassess their living situations,’ says Neil Dawson, Lettings Director at Frank Harris & Co. ‘The pent up demand from the spring lockdown has continued over the recent months and we are still incredibly busy. With many people spending more time at home it’s understandable that priorities may have changed with many looking to fit different functions which include space to work from home and access to some form of outside area, whether it be a garden, balcony or terrace. As the market is competitive, properties that are well presented and priced correctly are being snapped up so we are able to achieve minimal void periods. Although we’ve not been impacted by the stamp duty holiday directly, we have seen the highest levels of new properties coming to the market that we have ever seen.’
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.