Westminster Lettings and Sales Insights for Q2 2017

Westminster Lettings Market Update


Recent reports have suggested that London is now a more affordable place to invest in than New York and with the Pound also decreasing against the Yuen, China are also looking to invest heavily in the London property market, so things have been picking up in Westminster for Quarter 2.

Abel and Cleland House on John Islip Street have now completed and many of the apartments are now available for rent, attracting a wide range of tenants due to the exceptional facilities and the situation of the buildings.

The rental market as a whole, is stable. We've seen the average time of a property coming on to the market to being let, stay pretty consistent at approximately 4 weeks, so we're avoiding periods where properties are left with no rental income. With all the new developments, there is a larger amount of supply than normal. Current trends show that rents have gone down by about 6%, however there has been an increase of approximately 19% in transactions completed. These figures show that getting your property on the market at the right price initially, is key to a successful let. Try not to be enticed by big values – it’ll hinder you in the long run!

If you are considering letting your Westminster property in the near future, we may already have the perfect tenant waiting for it. For further information or to have a chat about what your home might be worth, contact Jo Frei (Lettings Manager).

Westminster Sales Market Update

The residential sales market in Westminster continues to strengthen after a subdued 2016. We have seen a significant increase in activity from buyers since the beginning of the year and confidence has slowly been restored.

We are seeing more British and international applicants registering with us to buy a range of different property, from new build, modern and period buildings. New buyers to the area are being attracted by the quality of new build development which is offering good value for such a centrally position location in SW1. We have seen more activity from vendors who have slowly started to bring their property to the market for sale, on the back of the buyer confidence beginning to be restored. The overall consensus is that we have a market back again for now.

International buyers are increasingly attracted to live or invest Westminster, due to its excellent location, being walking distance to the river Thames, the West End and Sloane Square, with superb transport links and surrounded by world famous landmarks such as the Houses of Parliament, Buckingham Palace and Westminster Abbey.

If you are considering selling your Westminster property in the near future, we may already have the perfect buyer waiting for it. For futher information or to have a chat about what your home might be worth, contact Amir Ghomshei.