“2017 has so far seen good levels of activity within the Prime Central London lettings market as a result of a large number of tenants actively seeking enhanced value for money.” says Lynsey Schipper is Head of Lettings at Lurot Brand
“As a result of Brexit, international political uncertainty and the growing trend toward outsourcing negatively affecting the job market, we are letting more frequently to Londoners rather than large numbers of new comers to our city. The savvy Prime Central Londoner, believing themselves to be declining in number, are searching for either a better location, more space, or a more contemporary interior; in other words, a better deal.
Oversupply in the Lettings Market
In addition to a slow in demand, the lettings market has also become somewhat over-supplied as a direct result of an influx of stock from the static sales market. Sellers are reluctant to drop their price preferring to let or ‘park’ the property for the next 2-3 years at least until the market, if not recovers with similar growth to that witnessed pre 2014, at least benefits from increased buyer confidence that neither a rapid decline in capital values nor a sudden surge in interest rates will occur.
The good news for mews landlords is that amongst the masses of magnolia two and three bedroom flats, a mews house has arguably greater market appeal by virtue of distinction. Mews rental investments arguably providing a more ‘stable’ rental income.”
Lurot Brand: The Mews Specialists
“It is now more vital than ever for mews landlords to market their property with Lurot Brand.” saysLynsey Schipper. “By doing so mews landlords ensure their property is viewed by tenants who already know they want a mews house. We will inevitably achieve the best result for clients by having the largest number of applicants bidding against each other for this week’s best in class.
Specialisation in a difficult market is vital; a flight to quality becomes a necessity. Specialisation can be defined as providing the following three key benefits for both landlord and tenant:
- Unique opportunity – to see several of your pre-selected type rather than one here or there – a key benefit for both landlord and tenant
- Time saving for both parties – immediate exposure to the pre-selected product/audience
- Specialists are experts – knowledge and the fluency with which to quell concerns and the ability to accurately answer queries is key to maintaining confidence at the point of sale, or when a tenant is in the process of making an application for tenancy.”