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In the first few weeks of January, we\u2019ve been seeing a record number of buyer enquiries for residential properties throughout London. We\u2019ve also been carrying out a much higher number of market appraisals than we usually see for the start of a new year. Usually we would expect to see this level of activity from March onwards but looking at prospect registrations, leads from our website and property portals, we have seen a 30% year on year increase.<\/p>\n
Of course, some of this is due to the pent-up demand from buyers who held back last year, partly due to the frenzy caused by the Stamp Duty<\/a> holiday and partly due to the difficulty carrying out viewings in person.\u00a0 Some potential buyers simply decided to wait until the housing market calmed down and conditions became easier.<\/p>\n Now these buyers are keen to move forward with their plans so enquiries are quickly translating into viewings, offers and \u2018sales agreed\u2019. \u00a0Buyers are serious \u2013 they\u2019re not just window shopping.\u00a0 They wish to get the deal done and move quickly with domestic buyers in particular, keen to get a fixed rate mortgage secured before rates rise, albeit modestly, as anticipated.<\/p>\n With a clear sense of normality now, there is genuine confidence returning to the London property<\/a> market, both from domestic homebuyers and from overseas investors.\u00a0\u00a0Demand is increasing for all types and sizes of property<\/a> and at all price brackets \u2013 from \u00a3600,000 to \u00a32.5million+.<\/p>\n As many professionals return to the office, at least part-time, the tide has turned and Londoners are looking to return to the buzz of London.\u00a0 So central London apartments are now back in favour.<\/p>\n With enquiries increasing for apartments in Zones 1,2 and 3, we are actively looking for new instructions in all these areas to meet the growing demand in central London which we expect to rise further as the year progresses.<\/p>\n Read more about Beaufort Park and the Colindale area investment potential<\/a>.<\/p>\n Beaufort Park<\/a> is also popular with BNO visa holders from Hong Kong who have been moving here over the last 12 months since the UK Government launched the incentive. Most have been renting before they buy and put down roots in the area where there is already a strong Chinese community.<\/p>\n In prime central London, we are now carrying out more valuations in areas like Kensington<\/a> and Knightsbridge<\/a> and enquiries from buyers are also increasing for traditional conversion apartments and period houses with good budgets too. Stock remains limited and we are looking to receive instructions for a number of genuine buyers at the moment.<\/p>\n We\u2019re also seeing interest from Middle East investors, particularly British expats living in places like Dubai.\u00a0 Many are looking to build a buy-to-let portfolio in London or perhaps wish to have a London bolthole \u2013 either for themselves or for children who are studying or working in the UK.\u00a0 You can read more about this in our blog Middle East investors remain a dynamic presence on the London property market<\/a><\/p>\n We urgently need new instructions to meet the growing demand from homebuyers and investors.\u00a0 Our international offices report an 28% increase in buyer enquiries during the first 4 weeks of the year so if you have a property to sell, do get in touch with our London Sales team<\/a> or your nearest International office<\/a> who will be delighted to assist you.<\/p>\nDemand soars in London NW9 postcode<\/h2>\n
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Our Colindale branch at Beaufort Park in NW9<\/a>, has made a cracking start to the year. We received numerous new instructions in January and our sales team received 20 offers in the last two weeks, with 12 sales agreed on a number of new-build apartments<\/a>.\u00a0 This highly sought-after residential development is popular with both homeowners and buy-to-let investors thanks to its high spec, amenities and easy commute into central London, just 25 mins from Colindale to Bank on the Northern Line. \u00a0Demand is also high from renters here, existing tenants are renewing mostly so we have little or no stock to let, \u00a0so for buy-to-let landlords, properties here represent an excellent investment, with high rental yields as well as good long-term capital appreciation.\u00a0 In fact, some apartments aren\u2019t even advertised before they receive an offer.\u00a0 Our estate agents at Beaufort Park<\/a> was the top selling agent in the area from January to September 2021 and it is an achievement that we hope to emulate this year too.<\/p>\nDemand grows from BNO visa holders from Hong Kong<\/h2>\n
Residential developments back on the buyers wish-list<\/h2>\n
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Apartments in central London and its fringes are generating a lot of interest too as professionals who left London during the pandemic for the tranquillity of the countryside, now crave having a nearby \u2018buzzing\u2019 caf\u00e9 and entertainment culture that only London can offer.\u00a0 Modern property developments<\/a> such as Fulham Reach in Hammersmith<\/a> and Imperial Wharf Fulham<\/a>, are again in high demand, as too is Royal Arsenal Riverside in Woolwich<\/a>, together with several schemes close to Canary Wharf<\/a>.<\/p>\nGrowing interest in prime central London properties for sale<\/h2>\n
Overseas investors keen to take advantage of the buoyant buy-to-let market in London<\/h2>\n
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Interest from overseas investors has been growing for a while now, particularly now that international travel is becoming easier and they can carry out viewings in person.\u00a0 The continuing weakness of sterling is a key driver too, offering overseas investors real value for money even if the interest rates push up a little over the course of the year, they are not deterred.<\/p>\nGet in touch<\/h2>\n