New year, new market!! We’ve had a stunning start 2020. In reality this actually started just after the election, we finished the year selling 3 properties, 2 of which went to multiple bids and ended up with asking price. We’ve had more of the same this year, of the 3 properties we’ve sold this year again 2 have had multiple bids (in one case FOUR offers) and all went at the asking price eventually. The buyer levels have increased dramatically – we came back to 30 % growth of our buyer applicant lists with a further 10% growth since the turn of the year. The secret appears to be out, interest rates are still low, mortgage approval ratings are up and unemployment has remained steady. Judging from the swathes of news buyer, the confidence appears to be returning so everything looks set for a busy 2020.
The lettings market has undergone a rise since the tenant fee act ’19. This was in the first instance to do with the summer market applicant swell but what actually resulted was a lack stock through the remainder of the year as prices had risen sharply tenants decided in the most part to stay put. Our renewals then went up to 90% and so the stock that did come back was highly sought after. January has again see the usually back log of applicants who stopped looking over Christmas, plus the new year, new me types who have decided to move to London. The stock levels are still unseasonably low, what stock there has been rented quickly even properties available as far down the line as two months.
What’s going on in the area?
•SW4 festival is coming on Clapham common, heavy drum and bass and house vibes.
•We have Richard Ashcroft at Brixton Academy as well as Jimmy Carr doing his live stand up tour.
•The Abbeville Fete is taking place on the 24th June – street BBQ, fancy dress parade a dog pageant to boot!!
•Let’s rock London is also taking place this summer, which is another Clapham common festival for the metal rocker crew.
•Balans Soho Society has replaced Honky Tonks in Clapham.
Andy - Clapham Sales & Lettings Manager - Winter 2020