Market Comment – June 2019

Gary 4x3The recent spell of hot weather in June did not seem to deter prospective purchasers and their house hunting.

As I reflect over June 2019 compared with June 2018, the number of prospective new house hunters looking to buy and not registered across our group was up 7% as a figure of 714. Also, the number of transactions tied were also up a similar figure of between 7% and 8% compared to last year, so in short it appears the momentum of confidence is growing. When I look and dissect exactly what prospective purchasers were seeking, it was pretty equal with 43% of prospective purchasers seeking flats, apartments and maisonettes and 57% houses.

Turning to our New Homes division, we were pleased to be instructed on an exciting and enervative development, Hamilton Apartments, which we have watched grow from inception and we were looking forward to our first open day in early July.

As I have mentioned many times, help to buy has proved an enormous success, helping so many first time buyers throughout the London borough of Croydon. I would urge any prospective help to buy enquiry to call any of our experts for free no obligation advice.

The lettings market is slightly more complex in that everything is letting so quickly and there are now 7 tenants for every property, and as I have said many times before, Landlords understandably are being quite choosy over which tenant to take. We were particularly delighted in June to secure 2 large portfolios to our existing 1500 properties under management.

I have every confidence that Summer months are going to be solid with confidence levels growing and I look forward to reporting back to you in early August.