Confidence returns to London property market
Summary
Chestertons reports a rebound in confidence across London’s housing market, with stronger buyer enquiries, higher vendor instructions and an increase in sales agreed. In lettings, tenant enquiries and landlord instructions have also risen, while achieved rents are said to be holding firm despite slower tenant decision-making.
Why it matters
Surveyors working in London may see improving transactional activity and steadier rental demand feed through to valuation assumptions and market sentiment. The reference to the Renters’ Rights Act also highlights an evolving lettings environment that may affect landlord behaviour and stock availability.
Key points
- Buyer enquiries through Chestertons’ sales portal reached their highest level in ten months.
- Vendor instructions rose 14% year-on-year, with new instructions up 63.9% in August.
- Sales agreed increased 7.8% month-on-month.
- Tenant enquiries were up 13% year-on-year and landlord instructions rose around 6%.
- Chestertons says tenants are taking longer to decide following the Renters’ Rights Act.
Organisations:
Chestertons, Property Investor Today
Regulations:
Renters’ Rights Act
Locations:
London
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