Lettings market – What is the current state of the lettings market post Brexit?
As we all try to wrap our heads around the possibilities thrown up by Brexit, we find ourselves in a changing property market.
The initial shock and disappointment of the result has given way to hope and anticipation of things to come, and whilst prices have begun to soften slightly due to the uncertainty in the sales market and the investors rushing to beat the stamp duty increase at the end of March, it is no surprise to have seen a sharp increase in the number of rental properties available in the lettings market throughout the year thus far.
Demand from tenants has remained typically strong, especially during the traditionally busy summer months, with professional sharers, families and students alike competing for the newest developments in the rapidly-changing landscape in areas such as Canada Water, Surrey Quays, and Deptford.
As we approach the final quarter of 2016 and look ahead to 2017, expect tenants and buyers from around the world to continue to be lured by one of, if not the, best cities in the world. Life must go on, and we must change and adapt to whatever lies ahead of us.
It is important that Landlords and Vendors remain calm and listen to the best advice, rather than siding with the often-inflated prices offered by agents with the lowest fee, or by online agencies with little or no local knowledge. The best advice and indeed service as a whole is rarely the cheapest.