Back to work, back to school, and back to normality, after what has hopefully been an enjoyable summer for all. This is usually the time of year when everyone talks about getting back into the rhythm of everyday life, the summer holidays have finished, the school runs are back, and the boss is slightly less perky than he was a month ago, when his two weeks in the Bahamas were still fresh in his memory.
But are we really back to normality? To say this year has been 'different' may be an understatement; we've had a wonderful royal wedding, we have a Conservative and Liberal Democrat coalition government, the world's economy appears to be in melt down with the Euro looking as though it may not be around for much longer, we've experienced our week long summer in the last week of September and have been told we could experience snow within a month, but perhaps most importantly we've experienced the biggest shake up in X Factor judging History this year.
In this year of change and inconsistency, it is more important than ever to protect your assets as best you can. At a recent Property Drum National conference Michael Portillo and a host of industry experts pointed out some very interesting findings; both over the long term and short term, residential property has proved to be the best return on investment made by investors. Professional residential Landlords investments, in general had out performed investment in commercial property, the stock market and bonds. These impressive results, combined with the excellent mortgage deals available to those who qualify, and the ever growing lettings market are leading to both fantastic yields and wonderful long term investments.
Thorgills, being a lettings specialist operating purely in the West London market, have experienced extraordinary levels of demand for all types of housing; ranging from students, to professionals, to blue chip corporate clients. The increased level of student applications this year, in light of increased student fee's next year has had a direct affect on the entire lettings market in West London. With so many students snapping up the larger and more affordable housing, it has forced the structure of the entire market to change over the past two months. Properties are being let for higher rents and quicker than ever before, with a significant increase over the last month in corporate lets being experienced, this is simply due to the lower supply of properties to the market against demand.
After two record months in August and September for Thorgills, it appears as though things look set to continue. Demand continues to grow month on month from tenants, and whilst stock levels are steadily increasing, we still do not have the property levels required to compete with the demand. If you are a landlord please do not hesitate to get in touch to discuss the fantastic lettings market we are currently in. October is traditionally a time when the lettings market is at its busiest, therefore is a great time to be very selective about the perfect tenants, and to achieve that higher rent you have always wondered about.
Please remember we are voluntary members of both the National Landlords Association and the Property Ombudsman, so our work is always carried out to the highest standards. Thorgills advice and valuations are free so please do not hesitate to get in touch.