The property market in London can be a very interesting beast. Sometimes it almost has a life of its own. But Finefair Ltd is here to help. We are one of the very best guaranteed rent companies Lambeth has to offer and deliver great services in other Boroughs. As a result, we know the city and can support investors.
A buyers’ paradise
The property market in much of the UK is very hot at the moment. It is definitely a seller’s market thanks to the huge amount of demand and increase in prices. However, things are a bit different in London. The city is taking a little bit longer to come back to life. Momentum is gathering, but buyers are still in a strong position.
The latest market data makes good reading for prospective buyers. As a whole, 31% of homes for sale in the capital have had a reduction in their asking price. That shows that demand is quite slow and sellers can struggle to get the prices they are asking for. Savvy buyers could therefore find a property at a nice discount.
Where can you get the biggest discounts?
As we said above, we are proud to be one of the top guaranteed rent companies Lambeth has. We deal with lots of assets in the area and love supporting investors. It is great news then that the figures show that this is the best Borough in London for discounts. According to the data, 38% of properties in the area have had a discount on the asking price. That will be great news for landlords looking to expand their portfolio and buyers looking to get on the ladder.
There are also several other Boroughs with a healthy discount on properties. Behind Lambeth is a three way tie between Camden, Wandsworth, and Kensington & Chelsea. All three areas have a nice 36% of properties with a discount.
A little further down the list you can find Southwark with 35%. Then, there is another tie, this time with four Boroughs sharing the spot. The City of Westminster, Tower Hamlets, Richmond upon Thames, and Merton all had 34%.
At the other end of the list, Barking and Dagenham had the smallest number of properties with discounts. Here only 18% had seen a reduction in the asking price. It showcases that demand for homes is still pretty high in this part of London.
Acting fast
While there are some attractive discounts available at the moment, buyers should act fact if they want to save. As we said above, momentum is starting to build. It will likely only get stronger as things continue to improve with COVID. As more international travel becomes acceptable it could bring more overseas buyers back to the capital. This could increase demand and mean fewer discounts.
The thing to keep in mind about London is the market conditions can change in just a matter of months. While properties today may be available with a reduction of the asking value, they could quickly rebound and go back up. If more people begin moving back to the city, it could also bring a wave of interest.
Guaranteed rent companies in Lambeth
Finefair Ltd understands why investors love London. While the market can fluctuate, assets here can offer a lot of value. We can provide help here, including a choice of lettings, management, and more. Our goal is to support every client so they know their portfolio is in the right hands.
One thing we can do is offer guarantees on rent. This can be a very useful service for clients, especially those who worry about voids and the potential loss of income. With our help you never need to worry about a void; you will receive a rental payment regardless of the tenancy status.
So, if you want to work with one of the most recognised guaranteed rent companies Lambeth can offer, speak to us. We set things up quickly and cater for all kinds of needs.
