Contrary to all expectations, Brexit and the health crisis have so far not had the dreaded catastrophic effect on the property market. Both in terms of sales and rentals, activity is on the rise again, although trends have changed.
Freshly deconfined, we observed strong demand from new motivated buyers, in particular by the reduction of the "stamp duty" (state tax applicable in July and March 2021). In addition, low-interest loans, short-time working, and grants of all kinds have put many businesses, individuals and families, out of the water.
Teleworking is also an important factor for new potential prospects in search of a quality of life that has become essential. In this case, the demands for goods with outdoor space are massive. In addition, many city dwellers have wanted to move away from London for economic reasons or for convenience, when daily travel is no longer necessary.
In the rental market, the repercussions following deconfinement are also significant, if not more pronounced. Indeed, the stock of goods available on the market has increased considerably, for several reasons: the fall in the activity of platforms such as Airbnb, the drop in the student population who had to give up renting during the academic year, and the decrease in expat demands usually strong at this time of year.
All these factors together got the better of the owners, who had to agree to reduce rents to the relief of London tenants, still numerous and no longer hesitating to consider a change of their place of life, for the better and for the good. price!
Conclusion: the London real estate market is once again in turmoil. Are the observed changes lasting? It is still too early to tell, given the many uncertainties on the horizon.
Whether you have a life project concerning sales, rentals, prospecting, or rental property management, the consultants from the Copperstones Properties a real estate agency in London real estate agency in London
will be able to support you.
A real estate agency based in London, Copperstones Properties has a strong bicultural team, with Dubai and British agents who support you in your real estate properties in London.
Contact Copperstones for more information:
Phone: (+44) 203 888 5555 Email: contact@copperstones.com
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