Landstones are still dealing with a high number of applicant registrations, many of them trying to get their move organised and executed before the Christmas period. We have seen a much milder second lockdown with schools and many businesses still open allowing people to continue their daily lives with slightly less restriction than the first lockdown. The government have allowed estate agents to continue trading through the lockdown and customers have been very proactive in taking advantage of this to secure a new property.
The lettings market for large family houses has heated up significantly with very high demand levels outstripping very limited supply. Landstones have seen several incidences of competitive bidding for good, well priced family properties. This competitive bidding has driven prices higher for the remaining stock available on the market.
As the end of the years fast approaches many prospective tenants have their home search firmly in focus and are in a rush to find and secure their new flat or house before Christmas. Pricing continues to be key for many landlords in the one and two bedroom flat market, tenants are still seeing large choice and are very happy to make multiple offers on many different apartments to see how motivated the owners are and if any are willing to take an offer.
Home offices and outside space continue to be the must have items, one or both of these are requested in nearly all new tenant registrations. Quality remains the watch word in the London letting market.