We have had a record start to the year for lettings in Bloomsbury; it seems central London is definitely the place to be! We’re seeing a lot of new rental properties come to market, this is due to factors such as owners deciding not to sell and the new change in legislation for Airbnb which limits hosts to 90 days per capital year. Find out more about Airbnb here!
The student season is set to have a massive impact on the rental market this year due to the fact that the pound is weak. This will benefit international students choosing to rent in London and we are forecasting a strong start to the year.
The sales market has seen a drop in applicants, but this has not affected transaction levels, it has just made selling property slightly more challenging. It’s essential that your agent has good market knowledge and can advise you on the best moves to make.
What’s happening in the area?
•Tottenham Court Road has had a fantastic face lift! Millions of pounds have been spent on the new Crossrail station which is expected to be complete by the end of 2017. The Central Line is also back up and running through Tottenham Court Road now that the refurbishments to the station have been finished
•The Centre Point building has started to take shape - the scaffolding is nearly down - and will be an amazing place to live and shop. The average price property for sale is £3.2M
•The Dominion Theatre is now showing award-winning Broadway musical “An American in Paris”
Wayne & Lucy - Bloomsbury Lettings & Sales Managers - Winter 2016