Finefair Ltd is a company that knows about the issues property investors can face if they struggle with voids. Any void can result in a loss of rental income. In many cases this can hurt the owner’s cash flow. It could even cause them to have to pay costs out of their own pocket. Luckily, we can offer a solution with guaranteed rent. As the top council leasing company Kensington has, we can arrange fantastic schemes that provide excellent assurances.
A strong first half of 2021
The latest data shows how prime markets in London have been performing in the first six months of 2021. An analysis of the Land Registry figures for sales looks at how many there have been at different prices levels. It shows how much movement there is in the market.
Overall the number of sales has been quite good. In total there were 3,381 transactions to the end of June 2021. This is 12% of the sales in the whole of London.
The core prime market is homes between £1m and £3m. It has had the most activity in the first half of the year. In fact, of 28,210 sales in London, 10.8% were in this bracket. The most transactions were in Kensington and Chelsea. Here 197 were completed, an impressive 39% of all sales in the area. The performance puts it ahead of other prime locations such as Westminster (33%).
The next bracket is known as the mid prime market. Here properties have values between £3m and £5m. There were less sales here naturally because the target market is much smaller. However, there were still 214 transactions in London. Kensington was the top performer, with 11% of all property sales in the area at this price level. Once again it was ahead of Westminster (8%).
Finally is the top prime market where homes have values over £5million. Yet again it is smaller, both in terms of properties for sale and potential buyers. But, there were still 117 sales. Kensington once again was top performer with 54 transactions. That was also 11% of all sales in the Borough. It was higher than Westminster (6%) for a third time.
The performance of the prime market has been relatively stable. It has been somewhat protected against the wave of buying at lower levels of the market over the last year. While there have been some buyers jumping into action to benefit from the stamp duty holiday, the numbers were nowhere near those at other levels.
However there could be a jump in attention in the future. Property values in many prime locations in London are still up to 25% below the previous peak. That means there is plenty of potential for increases. The return of overseas buyers could also help. Plus, interest rates are still low so there is more incentive to buy.
Work with a top council leasing company in Kensington
Finefair Ltd works to offer services that clients can rely on to protect their income. With the rent guarantee there is no concern about any void periods; they will no longer be your responsibility. You will still have a stable income for your properties for as long as you are part of the guarantee scheme.
So, if you need advice or want to start receiving rental income, speak to us. As we said, we are the most reliable council leasing company Kensington has. We can talk about how the rent guarantees will work, the length, your rights, and more.