The temperature is rising.
So far, summer 2021 has not bathed us in many balmy days but in between some fairly tropical showers the sun is out, the temperature is rising and our cold wet spring is now almost a distant memory! This all adds to the feelgood factor that has been building while we ease our way out of the current restrictions. Infections are on the rise again but thankfully hospitalisations are not because of the success of our vaccination programme – jabs are being administered at an incredible rate into every adult in the UK who wants them. This has created a growing positivity in almost every sector of the economy… things are picking up… shop tills are ringing, bars and restaurants are buzzing and Euro football fever is starting to build.
That feel good factor is very much evident in the property industry. In fact the property market was one of the first areas to feel its effect – even the emergence of the Delta Covid variant hasn’t damaged the mood. The continuance of quantitative easing by the Bank of England together with low interest rates means that there is an increase in strong buyers with bigger budgets, allowing them to purchase that new property they have their eye on… perhaps more internal space, the joy of outside space or maybe that property with wow factor. Not surprisingly there is no opposition from the Government given the very positive impact on economic activity. So if you have a place that you would like to sell (or rent) please let us know and we can set you on the right path. We have seen house price records broken across West London and although still not up to 2016 pre Brexit numbers, the transaction level is twice what is was in 2019 and 2020.
Here is an example of what is currently available on Ceylon Road for £1.8M – a truly wonderful 3 bedroom contemporary house with excellent living/entertaining space over 2 floors and a wonderful westerly paved mature garden with a lovely water feature. This exciting and refreshingly different house is truly flooded with light, has an amazing feel and is totally uplifting!
For those in the lettings sector, there have been a number of recent changes you should be aware of. As I mentioned in May’s e-zine, the eviction ban has now come to an end. In addition, notice periods for both Section 21 and Section 8 Notices have been reduced. A Section 21 Notice is served when landlords wish to regain possession of a property, for example if they want to sell. Their required notice periods have fallen from six months to four. Section 8 Notices are used for regaining possession of a rental property when there’s been a breach of contract which includes rent arrears. Their notice periods have been reduced from four months to two. The courts are likely to be extremely busy over the coming months as they clear their backlogs and the Government is asking for priority to be given to cases involving fraud or anti-social behaviour.
There are some fabulous properties available to rent. I particularly like this stunning and stylish 5 bedroom family house finished to an extremely high level with an eye to detail throughout. Bolingbroke Road is in the heart of Brook Green on one of the most popular roads in the area, close to the playground and tennis courts on the Green.
Some of you are still unaware of our fantastic International office which continues to work despite the pandemic. We have wonderful properties available in Monaco, South of France, Spain and Montenegro at prices from €50,000 to €50 million. As well as the properties on our website, there many properties that are for sale “off market” so please contact the team on info@finlaybrewerinternational.com for more information.
Looking for a property in the sun with a pool? Here is a taste of what we have available to help keep you cool - how about this stunning Penthouse apartment in Montenegro with 360° roof terrace views or this beautiful, luxurious and elegant family villa in Marbella.
Well, that about wraps it up for this month. I hope you get the chance to enjoy the sunshine. If you do, don’t forget the sunscreen!
All the best,
Teresa
