High demand for family homes
“Summer was incredibly busy for Snellers,” says Paul Herring, Sales Director at Snellers Teddington. “Lots of properties came to the market and we agreed dozens of sales. As we come into autumn we expect this level of activity to increase, with people eager to sell before Christmas.”
There is particular demand for family houses in particular, explains Paul. “Family houses between £1,400,000 and £1,800,000 are in huge demand at the moment and stock levels, so much so that there are not enough properties to meet demand. As such, large houses in Teddington’s most popular streets are achieving record prices.”
Lettings is equally busy, according to Twickenham Lettings Manager Richard Gunning; “The number of properties we are letting is up by 30% on this time last year, proving that the buy-to-let market is strong.”
“Demand is far outstripping supply,” continues Richard, “resulting in properties being let before they reach the internet portals, and we are often fielding competing bids. Most of our properties are let to registered tenants, proving the importance of prospective tenants working with a proactive agent who can get them booked in for viewings at the earliest opportunity.”
“The number of Landlords here choosing to use our professional Property Management service is up by 5% versus last year,” continues Richard. “This is mostly a result of increasing government legislation resulting in Landlords wanting peace of mind that their property is let in line with current legislation.”
It’s not just Twickenham Lettings that’s busy. “The number of lettings Snellers has agreed this year across the company is up 10% since 2017,” says Jon Mulshaw, Snellers Teddington Lettings Director. “So too is the average tenancy length, with Landlords looking to hold on to their investments and tenants seeking security of tenure.”
“Autumn is typically the busiest time of year for the lettings market in the Richmond and Kingston boroughs, and this year is proving no different,” concludes Jon.