London has long been a safe bet for property owners & landlords alike. Yes, it’s expensive to buy, but prices have always steadily risen & proven consistently to be a good return for investors. Whilst right now may not be a great time to sell (although that of course depends on when you bought and what your motivation to sell is) It may not even be a good time for current landlords who are experiencing large voids & and rental price drops. Throw in the fact that the government are considering stopping in-person viewings during the lockdown thus making it even harder for Landlords & Letting/Estate agents to fill properties. The immediate future looks bleak.
This last year we have seen something of an exodus from London with people being consigned to the bedroom/office as remote working has become ‘de rigeur’ and have therefore flocked to the countryside/suburbs en masse in search of extra space. On the flip side of this, many people who don’t have the luxury of being able to work from home and for many years have been priced out of London are now actually starting to move back into the areas they could never afford now that rents have shrunk.
This won’t last forever of course. As Covid-19 vaccinations are rolled out over the next 4-6 months and confidence grows amongst the government & employers, we will start to see people return to the Capital leading in turn to more activity in both the rental & sales markets pushing prices (steadily) back up again.
For now at least, for renters (and buyers) this is a great time to bag a bargain! If you would like to take advantage, why not book an in-person viewing (whilst you still can!) or of course do a video viewing at one of our many great properties currently on offer for sale, for example https://southhampsteadresidential.co.uk/properties/hancock-nunn-house-belsize-park-nw3/ or rent https://southhampsteadresidential.co.uk/properties/45-dynham-road-house-share-room-2/
Conversely, if you are a thinking of renting or selling your home do get in touch!
Martin Wheeler MARLA, Director.
Schedule a 1-1 chat: https://calendly.com/shr-viewing/1to1-chat
Come in to my virtual office, just knock: https://whereby.com/martinwheeler