Date Published 26 January 2022
2022 rang in in style at the beginning of the month, with the first crowds and parties being held for quite some time and with this, Prime Central London's lettings market painting an all too familiar picture to that of 2021.
Reduction of stock levels and pent-up demand has inevitably triggered an increase in asking rents. Current Tenants, who previously may have decided to search for a new property, have now decided to stay understanding that a small increase in their payments seems to be the sensible financial option at this moment.
Even with rents on a seemingly upward trajectory, good quality assets are attracting numerous enquiries leading to competitive bidding on properties across the board. Ashdown Marks have seen this trend witnessing transactions being completed at, or even in some cases above, the asking price.
There is no indication of market conditions changing anytime soon and therefore 2022 is certainly, at the moment and for the foreseeable future, a Landlord's market.
The purchasing market has also seen more than green shoots. With the world having opened its doors once more and travel finally being made a little easier, Prime Central London has witnessed foreign buyers finally being more active again. This, combined with Vendors now being primarily focused on selling their properties, has meant Ashdown Marks have had a very promising start to the year. Watch this space….