June in, May out
Instead of moaning about politicians, let’s look at what is happening in the West London property market and set you up for the summer.
The good news is: Property is selling. There is much doom and gloom in the press about the property market at the moment and there will be more throughout the summer but the fact is, we ARE selling properties. Flats AND houses. The biggest hurdle right now is that sellers are being given some bad advice on the value of their home. It is essential that you are asking the right price because if you start too high, you will chase the market down. Be realistic about your selling price. Too many agents are still happy to tell you a figure 10% or 20% higher as they try to impress you for your business. My advice to you is, ask them to demonstrate to you what they have sold recently that justifies this guide. If they can, then you are in the right hands – if not, then be careful.
As an example, there was a family house on the market over the winter with another agent at £3.6M. Nothing had sold in the street, ever, that justified the price, all the comparative evidence suggested a price of £3M. With no offers forthcoming we were called in and took the time to explain the market and what similar properties we had sold locally in the previous 12 months. Together with the owners, we planned a marketing campaign. We set the wheels in motion, launched the property and within 2 weeks our client accepted an offer which went on to a successful sale.
On the rental side, there is still a reasonable demand for rental properties and rent levels are back to those in 2016/17. There continues to be a wide international selection of tenants for flats and houses, especially Europeans which may surprise some Brexit doom mongers.
Our international team, based in the South of France have also just been instructed on wonderful 4 bedroom maisonette in the charming sea-side town of Villefranche-sur-Mer on the Riviera.
Until next month, enjoy the warm-up to summer!
