Finefair Ltd is a team that is never daunted when it comes to managing large portfolios. In fact, we can manage each of them effectively and deliver the very best rewards. We are the top name for estate management Lewisham has but can offer the same great services for individual homes and more. So, landlords throughout the area and across the city can trust us.
Unusual times
No doubt you’ve heard about how we are living in unprecedented times more than once. Sadly it is true and lots of things are happening that we would not normally expect. One of them is a recent boom in the housing market in London.
Normally, the summer holidays are a slow time for the housing market. This is because people are usually going on holiday in July and August. The market then tends to come back to life with a big rush in autumn. However, this year is different.
The latest data shows there has been a huge increase in the number of enquiries for properties in recent months. In addition, in July the number of sales in London grew by an amazing 44% over the previous year. In the first week of August the number of sales agreed was up by 55% on 2019.
What is causing it?
There are several things encouraging the boom. Firstly is the fact that people have more time now to do research into housing because they aren’t able to go on holiday. As a result, more of them are ready to commit to a move before the traditional autumn rush.
In addition, things like the break on stamp duty are making it more affordable for some many people to buy. That means those people with the money and ability to secure a mortgage can commit and enjoy healthy savings.
Thirdly, the boom is also a release of several months of pent up demand. The market has been uncertain for a long time, firstly with Brexit and then with the impact of coronavirus.
Which areas are performing the best?
Bexley was the best performer in July in terms of the completion of sales. It saw an amazing 88% increase over 2019. This is not surprising considering it is one of the most affordable boroughs and has some really great suburbs. More and more people are choosing to move further out so they can buy larger homes with gardens.
Other areas with impressive growth in the completion of sales include Wandsworth, Lewisham, and the very popular Kingston upon Thames.
Mortgages
The boom in the market is causing a few issues for mortgage providers though. Many of them are not at full strength because of coronavirus and social distancing. While many can offer wonderful deals with very low rates, a lot of them can’t keep up with the number of applications. As a result people looking for a mortgage may see deals appear and disappear very quickly.
Estate management in Lewisham
Investors may also be using the current situation to look at how they can expand their holdings. There are plenty of opportunities for them. The most attractive properties will be those with gardens and outdoor space. Demand for them could remain very high in the future.
At Finefair Ltd we are happy to support landlords who are looking closely at their portfolios. We can manage them effectively and support anyone who wants to expand and purchase new homes.
If you have any questions about estate management Lewisham has nobody better to ask. We offer advice and then ensure you get the perfect services, so get in touch now.
