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2014 - What does the future hold for West London's Lettings market?

The end of the year has arrived and before getting carried away with Christmas and New Year celebrations it's time for the inevitable 2014 predictions.

We don't possess a crystal ball and certainly hold no powers to look in to the future, but we like to think we have a feel for how the market is moving, at least within the West London area.

The last eleven months have been a real eye opener to how much can be achieved for our clients with increased support in place. This year has seen Thorgills stream line our services with increased teams for all departments; having grown our lettings teams, administration teams and property management.

We have seen existing and new landlords enter the market with buy to let finance becoming more readily available. We have seen a significant increase in demand for properties at the top end of the market, perhaps due to the Thorgills brand developing and becoming recognised for our work in this sector. Increasingly our clients are bringing these kind of properties to the market and we continue to work closely with local corporate clients and relocation agencies.

The next twelve months promises much of the same. The government has introduced schemes to help people get themselves on the property ladder and this should certainly make an impact on both the sales and lettings markets.

The real question is which market within the sales and lettings markets will be affected? It's likely that the stereotype 'first time buyer' or 'buy to let' property will see a change as purchasers will increasingly become owner occupiers rather than landlords.

Within this market we anticipate seeing less of these properties entering the lettings market and driving up demand for more affordable properties.

As with 2013, we anticipate 2014 will see a strong level of top end, newly completed purpose built developments entering the lettings market. Supply should remain fairly steady with new developments sprouting up frequently and offering some excellent incentives. Demand for these properties will always be strong, especially within the corporate relocation sector and companies wishing to place their top people in suitable properties. This is the market that Thorgills have found themselves increasingly working within and can only see this growing in 2014.

Early in 2014 Thorgills will be operating and servicing clients from five locations across West London, making us West London's largest lettings specialist. The next year looks very promising for our clients as we prepare to introduce new service standards in a view to improve the way the industry operates in general. To find out why Thorgills are becoming the lettings agent of choice in West London please do not hesitate to get in touch with your local branch.

From all at Thorgills Merry Christmas and a Happy New Year!