London Bridge Sales and Lettings Market Insights for Q2 2017

London Bridge Lettings Market Update

The second quarter of 2017 has seen an increase in activity following the imbalance we found between stock and potential tenants in quarter one. We have found that competitively priced rental properties are seeing much more activity, and slight price reductions of 5% are having a great effect on interest received.

As we move towards the Summer months, which are historically the busiest months of the year for Lettings, we expect to see an increase in potential tenants and an increase of stock.

Demand remains highest for one bedroom apartments in the SE1 area, however, we have seen an increase in the need for luxury and high specification two bedroom apartments for tenants who are looking for a property with the “wow” factor. As expected in the summer and when London is basking in glorious sunshine, the requests for a property with outside space has become more and more common and so if your property benefits from a terrace or balcony I would certainly focus marketing on this and potentially look to dress the outside space with garden furniture and plants.

If you are considering letting your London Bridge property in the near future, we may already have the perfect tenant waiting for it. For further information, or to have a chat about how much your home might be worth, contact Lia Girandola (Lettings Manager).

London Bridge Sales Market Update

It has been an interesting time for the London Bridge property market for the year so far. The New year brought fresh optimism and new buyers resulting in a surge of activity and consequently In the 1st quarter we conducted more viewings than any other quarter last year and more viewings than the entire first half of 2016. Not suprisingly, we hoped the prospect of Spring and more daylight hours might extend this activity through to the summer. Regrettably the unxexpected calling of the general election and the resulting political uncertainity quelled the interest. Since the result, the viewing numbers might have slowed, but there has been no let up in the levels of browsing of our properties on the internet, which if nothing else, is conclusive proof of the continuing interest for this vibrant corner of the capital. Moreover, whilst many in the media have questioned confidence in the capitals’ property market, some of our most recent sales would contradict this point of view. On Long Lane we have just sold one of two Grade II Listed townhouses dating from the early 18th century that are to be refurbished by The Acorn Property Group and have an asking price of £2,800,000. In Park Street, behind Borough Market we have also sold another fully refurbished Grade II listed house that has an asking price of £3,250,000.

With the first half of the year now behind us, we are hopeful for continued interest in the next 6 months. Whilst we cannot ignore the effect of ongoing Brexit negotiations, sellers and buyers alike seem to share the wish for business as usual. In London Bridge, there are unique elements which provide a special dynamic to the local market and none more so than the redevelopment and extension of London Bridge station, due for completion in late 2018 and with it 70,000 square feet of prime retail space. As in previous years, the great majority of interest has been from those discovering SE1 for the very first time and buying for their own occupation or children starting their first job or beginning university. It’s no surprise buyers are keen to buy within close proximity to the city enabling many to walk to work over Tower Bridge or take the Jubilee Line to Canary Wharf or the West End (London Bridge or Bermondsey). So if you are one of those people discovering this vibrant corner of London for the first time please let us know, as we are seeing new properties daily! 

If you are considering selling your London Bridge property in the near future, we have already have the perfect buyer waiting for it. For further information, or to have a chat about how much your home might be worth, contact Mark Andrews (Sales Manager).