After a subdued performance last year which saw sale transactions fall by 1%, the property market in East Sheen has enjoyed a strong start to 2020. Chestertons' local office recorded a 29% increase in new buyers registering and a 25% increase in sales in January compared to 2019.
The General Election has undoubtedly had a positive impact on the market as confidence amongst buyers has been boosted by the greater degree of certainty it has provided around Brexit and government policy.
The East Sheen rental market enjoyed a busy year in 2019, with demand from tenants extending well beyond the traditional June - September peak period and into much of the autumn. Chestertons' local office recorded a 33% increase in the number of new tenants registered and a 9% rise in the number of offers made on properties over the year as a whole.
Tenant demand has remained strong coming into 2020, but there is a real shortage of properties available to rent in East Sheen as landlords have been put off from making further investments due to unfavourable tax changes.
Read our full report below, with comments from Matthew Genders - East Sheen Sales Director - and a further review in to the local property market, house prices/rental values and an outlook for the rest of the year.
It’s an excellent time for landlords in East Sheen... as the lack of available rental properties and high number of tenants is resulting in a good level of interest and some excellent prices and terms being achieved.Alexander Okemefune - East Sheen Lettings Associate