Market Briefing Autumn Update 2021

Market Briefing Autumn Update 2021

Dear All,

It’s that time of year when we give you our predictions and updates on the market as it stands at this moment in time and moving forward to the next couple of months.

Despite lockdown restrictions and the influences of Brexit and Coronavirus the market has adjusted well; although prices have dropped, demand for property is still healthy. Over the last five years there has been a very steady drift downwards in property prices, but they are not consistent across all buildings with some being better than other by 10% - 15%. The market and prices have stabilised, but this is no bad thing because our personal success rate at Anderson Rose is at its highest since we have been operating over the last ten years. In the last quarter each property that we’ve had listed has sold quickly and sold well and this can be put down to the changing marketing techniques across the industry of which we have adapted better than most. Our video marketing is working, and this is now something that clients expect when they go on to Zoopla or Rightmove – a virtual tour. This is just a small section of what we know is possible and this, combined with social media, has become a space race between agencies to stay relevant and current to their online clients. We now have a dedicated social media manger with the view that the agencies with the biggest online presence and following will end up dominating the industry in the future.

During the run up to Christmas we expect sale to remain consistent, so if you’re looking to sell there isn’t much point in waiting as the change and increase in prices of property is most likely going to be measured in years rather than months. However, on the flip side if you have a need to sell from a practical point of view then there is no time like the present because the demand is here; as a buyer, prices are not falling any further so this is the best you can expect, yet this is still a significantly better time to buy than five years ago so you’re making that saving already.

On the lettings side of things, properties have been in short supply across the whole of London. Coronavirus hugely effected rental prices and they almost halved during lockdown whereas now they have been pushed higher than they were previously, but this isn’t lessening demand in the slightest. A very live example of this was in St Andrews Wharf whereby it was listed to rent on a Monday evening and by Wednesday we had 17 viewings and 3 offers – and was only a one bed – which goes to show the demand. If you’re a landlord and struggling to let, you’re with the wrong agent!

As always, we’d like to say a huge thank you to you, our clients, over the last ten years for you’re unfailing support. We have gone from strength to strength during the last decade and be assured we’re not slowing down.