Buyer interest has picked up in 2019, notably so from late summer, and Chestertons recorded a 9% increase in offers made on properties in the year to August. However, buyers have been frustrated by a shortage of buying opportunities and there was a 16%** drop in the number of available properties at the beginning of September compared to the same point in 2018. Vendors have been reluctant to market their properties against a backcloth of Brexit related uncertainty, especially if they are unable to achieve their price expectations.
“I love the bustle and vibrancy of Kentish Town, the independent streak of Tufnell Park and the undiscovered cool of Holloway and Archway. The superb amenities and facilities, outstanding schools, amazing pubs and eateries, first rate transport links and proximity to some of London’s finest open spaces make this one of the best places to live and work in the Capital.” - Andy Sewell, Kentish Town Sales Manager
Lettings demand has also increased this year, with the traditional peak season from the beginning of summer until mid-autumn proving exceptionally busy. Chestertons recorded a 25% increase in viewings and a 27% increase in offers in the first eight months of the year. The number of lettings also rose but the increase was less dramatic due to a reduction in the supply of properties available to rent, especially for well-presented properties in good locations, in large part due to the impact of landlords selling properties.
“Kentish Town has a strong lettings market, with renters attracted by the excellent transport links into the City. Kentish Town is affordable, yet close to Central London and with the re-generation happening in Kings Cross attracting more blue chip companies, a lot more corporate tenants are now renting in the area.” - Ashley Mitson, Kentish Town Lettings Manager