Welcome to Tedworth Property
Ask an estate agent if they are busy or how the market is, and the response will almost always be one of optimism.
Whilst a sense of relentless optimism is to be applauded, it’s important to take a balanced view and Tedworth, as a founder led business, takes pride in reporting the facts, good or bad, based on actual market conditions. This ensures total transparency whilst allowing us to provide the correct advice to our clients.
As recently published research indicates, in tandem with what we are experiencing in person, the prime London market remains sensitive, with cautious buyers unsure as to whether now is the time to buy, coupled with a continuing increase in supply of property for sale across all price brackets.
The simple economics of this is that there remains downward pressure on value, meaning we as a team are working harder than ever to ensure we maximise every opportunity for our clients and whilst there is no doubt that there are some difficult conversations taking place, it’s certainly not all doom and gloom.
Following on from an exceptional first quarter for Tedworth (as reported last month), the last four weeks have continued in a similar fashion, with multiple completions taking place (as highlighted in the reel above) and several new properties are now under offer, heading towards an exchange of contracts.
The market is currently best represented by owner occupiers and those purchasing for family members…who we would describe as ‘needs based’ buyers as opposed to ‘discretionary’ buyers. However, with London showcasing now more than ever its status as a safe haven, it might not be long before we see the return of more international buyers and whilst no one can predict the future in this uncertain world, receiving feedback below from a recent client really does make all the hard work worthwhile…
“Thanks again for all your kind professional help in enabling the sale and the best of success for Tedworth going forward. Given what I have experienced I believe you will continue to go from strength to strength.”
Finally, following the now well publicised changes to the lettings industry and the introduction of the Renter Right Act, coming into force from May 1st (tomorrow), for a recap on the changes coming in, please do take a look here.
Our experienced team are on hand to answer any questions you may have and as ever, we’d be delighted to assist with any property related matters you may have.
Wishing you a wonderful bank holiday weekend.
