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Fiona Guthrie | Rental Market Comment | Autumn 2016

Fiona Guthrie Rental Market Comment Autumn 2016

By Fiona Guthrie  //  Thu 13th October 2016
Our Summer market comment was written just a few weeks after the Brexit Referendum and consequently was a little uncertain. Summer usually being boom time for the rentals market; this year was different.
Our Summer market comment was written just a few weeks after the Brexit Referendum and consequently was a little uncertain. Summer usually being boom time for the rentals market; this year was different. I am pleased to say that although June and early July was extremely quiet, towards the end of July the market changed. Since then, we have experienced a flood of enquiries from tenants with exceptionally strong demand from overseas students and also from families looking for houses and large flats. The weak pound has certainly increased the value of money for anyone moving to London from overseas. Predictably, the recent flurry of activity is unlikely to continue at the same pace and we expect a quieter market as Autumn turns to Winter.

Stock levels are good and newly refurbished properties are the ones attracting the attention of tenants. Some such properties have had multiple offers and these landlords have found themselves able to secure their preferred choice of tenant at attractive rent levels. Not all landlords have been in such a fortunate position and so we reiterate our previous advice to landlords that it is vital that their properties are in good order. It is the newly refurbished properties that are letting. For presentation advice or project management of a full refurbishment please do get in touch.