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June Market Insight


The property market ebbs and flows naturally throughout the year in accordance with gentle fluctuations in supply and demand. For example, July and August are traditionally busy months for lettings and February and March are two particularly active months for the sales market. December is notoriously quiet in both divisions, however those who are in the market are both serious and determined.


The last month has seen the sales market slow down significantly. It is important to recognise that this does not signify a drop in sales prices; the market is still moving forward, just at a lesser pace than in previous months. Ongoing political and economic uncertainty means that some sellers are putting the brakes on their plans to move, either postponing to a later date or alternatively making some improvements to their current home so that they no longer need to move. An increasing number of sellers are choosing to rent their property out whilst they wait for buyer confidence to return. Slow months are a regular event in the sales market and are essential in recalibrating expectations and preventing an unsustainable bubble from developing.


The lettings market, meanwhile, is now starting to heat up as we approach the busiest months of the lettings calendar. One reason for the increased activity is that graduate jobs begin in August and September; once someone starts a rental contract in the summer months, they are likely to end that contract at a similar time and begin their next search then too. Another reason is that the longer days make it easier to view properties properly in the early evening with sufficient natural light. A strong selection of properties has re-entered the market over the last month and this looks set to continue during the coming weeks.


For landlords and tenants there is much to be excited about, as supply of rental properties is on the up and there are more prospective tenants looking to make a home in these properties at this time of year. For buyers and sellers, there is also a great deal to be positive about. Buyers will find that those properties listed for sale at the moment belong to motivated sellers who are keen to progress with their sale. Sellers are not losing money, they are just not making quite as much of a profit as they hoped they might, and they are also able to buy their next property for a less inflated price. Fortunately the buoyancy of the West London property market will stand everyone in good stead in the medium and long term, no matter the short-term uncertainty.


Average marketing prices for Jun (based on Zoopla data)


Sales 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
Chiswick £ 488, 258 (+4%) £ 669,103 (-) £ 989,914 (+1%) £ 1,452,706 (-2%) £ 1,976,771 (+3%)
Ealing £ 466,968 (+1%) £ 603,957 (-1%) £ 803,320 (-) £ 1,046,203 (-3%) £ 1,513,509 (-)
Brentford £ 385,620 (-) £ 577,883 (-1%) £ 784,986 (+1%) £ 943,431 (-7%) £ 864,190 (+1%)
Hammersmith £ 608,602 (-) £ 1,010,806 (-) £ 1,495,497 (-6%) £ 1,245,521 (+8%) £ 3,509,369 (+6%)
Isleworth £ 318,669 (-) £ 436,024 (-4%) £ 590,000 (-1%) £ 828,414 (+2%) £ 1,144,477 (-3%)

Lettings (pcm) 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
Chiswick £ 1,489 (-3%) £ 1,988 (-3%) £ 2,664 (-4%) £ 4,299 (-3%) £ 5,701 (-6%)
Ealing £ 1,258 (+1%) £ 1,788 (-1%) £ 2,584 (-) £ 2,646 (-1%) £ 3,754 (-)
Brentford £ 1,410 (-) £ 2,055 (+2%) £ 3,622 (+5%) £ 3,706 (+8%) £ 3,395 (+27%)
Hammersmith £ 1,558 (-4%) £ 2,100 (-7%) £ 3,183 (-10%) £ 3,157 (+1%) £ 3,724 (-1%)
Isleworth £ 1,010 (-2%) £ 1,348 (-2%) £ 1,813 (-1%) £ 2,034 (+3%) £ 2,712 (+1%)