Well, what a summer we’ve enjoyed here at Portico in Highbury! A record-breaking August for lettings, and plenty of sales have kept us all very busy indeed! Aside from blue skies and bright sunshine for what seemed like months on end, the team have been busy supporting the local property market during this unusual and unprecedented period of transition. Our newest team member, Adam Wood has settled in comfortably, and has helped diversify our office with his marketing experience and background in growing new businesses.
The cornerstone of so many of the conversations I’ve had with prospective vendors, buyers, landlords, and applicants over the quarter naturally relates to the outcome of the UK referendum. Despite historical evidence suggesting that the property market contracts during periods of uncertainty, and the assumption that Brexit would immediately and negatively impact the local market (one which has enjoyed such stable and positive growth across recent years), it is pleasing to be able to reassure readers that the volume of stock and buyer enquiries have increased year-on-year. House prices and rental values remain stable, too - and we’ve not been advising vendors to drop their prices, certainly as lenders continue to help buyers to borrow. No headlines in Highbury, it seems.
However, we are able to report an increase in the number of local valuations. Prospective vendors and landlords have reached out to us in record numbers in order to establish how much their properties are worth, and I’m pleased to update our network periodically in order to ensure that they are kept abreast of developments in market trends ‘as they happen’. Being friendly also goes a long way! Portico’s blog (to which I’m sure many of you subscribe) provides a broader platform for London-wide discussion.
We’re looking forward to carrying our momentum forward into the last quarter of 2016, and sharing our recent success with our investors, vendors, and landlords over the coming weeks. As usual, we’re open until 19:00pm every day, and welcome a chat over a cup of coffee.
Ed - Highbury Sales & Lettings Manager - Autumn 2016