2014 an overall positive year
2014 has been interesting for the lettings market in and around the Home Counties – challenging in part but overall positive, according to Savills.
Tanya Blake, head of Savills Home Counties Lettings, says: “It has been a market of two halves for lettings throughout the Home Counties during the course of this year. Due to increasing affordability constraints, we have seen a marked increase in demand from young professionals and young families which has really fuelled the market sub £4,000 per month and especially in town centre locations, close to shops and transport links.
“The market upwards of £4,000 per month has been more price sensitive with the most beautifully presented and realistically priced properties letting more successfully. This has been the result of diminished demand from the corporate relocation market and lack of quality of stock as landlords re-explored the option of selling.”
Claire Pincott, head of Savills Beaconsfield and Amersham Lettings, adds: “There has been a definite shift in applicant demographic over the course of this year and this has, in turn, impacted the type of property most in demand.
“While historically this area has drawn corporate tenancies, the number of personnel being relocated from abroad has fallen, as too have corporate budgets.
“In conjunction with this, there has been an increase in the number of families and high net worth individuals looking for quality family homes which are well maintained and situated in convenient locations – such as close to good schools and transport links.
“This has resulted in the £4,000 plus market becoming increasingly price sensitive and, as a result, there has been a marked increase in demand for high quality properties suitable for families priced between £2,000 and £3,500.