Westminster Lettings and Sales Insights for Q4 2017
Area Guide - News
Living In Westminster : Area Guide - 165
Sales
Buyers are slowly but surely coming back to the Westminster property market as confidence is restoring in the sales market. We have seen an increase in transactions throughout the year, particularly for two and three bedroom apartments. Demand remains high for special properties such a period houses, penthouses and flats with outside space.
Week on week we are seeing a slow increase in buyer activity, with more applicant enquiries, registrations, viewings and offers. Buyers are from all nationalities and backgrounds, with an increase in domestic British based purchasers who feel it is time to resume or start their property search.
Buyers are seeing value in Westminster compared with other central London locations and being attracted by the close proximity to the centre of London and its world class attractions.
If you are considering selling your Westminster property in the near future, we may already have the perfect buyer waiting for it. For further information or to have a chat about what your home might be worth, contact Amir Ghomshei.
Lettings
The end of the year always sees a mad rush to get a property rented before the Christmas break and this year has been no different. The prices might not be at their highest point but the seriousness to do business by all parties involved means that transactions are swift and reliable. This month saw a late viewing on Friday culminate in an offer on Saturday, agreed on Sunday and contracts executed by end of business on Tuesday.
During the weekly feedback for Landlords my challenge is not to use the word ‘Christmas’ or the phrase ‘time of year’ and focus on the positives. Less stock means limited choice for Tenants and the best possibility of theirs being number one on the list. For the Landlords that don’t secure a rental, new year brings new potentials that have being trawling the internet and planning moves over the festive period.
When I speak to applicants I try to give them the confidence to make the decision with fewer options, they will be making a choice from limited offerings but that property which they wouldn’t have afforded six months ago could maybe on the market.
If you are on the market at the moment or considering letting your Westminster property in the near future, we will happily have a conversation or a sit down with you to formulate your perfect plan. For further information, contact Charlotte Oborne (Area Manager).
