Since mid-May the property market has recovered remarkably quickly, as the Government began to relax its lockdown measures. Between June and mid-September, Chestertons' Richmond office registered 29% more new buyers and received 35% more offers on properties compared to the same period in 2019.
"Property purchases are taking longer than ever to complete at the moment, so if you want to take advantage of the stamp duty holiday and make a potential £15,000 saving, you really need to act now as next April is fast approaching." - Xavier Marques-Wicks, Richmond Sales Manager.
Tenant activity has picked up since June as lockdown measures were relaxed, and the economy has begun to recover. Between June and mid-September, Chestertons' Richmond office recorded an 83% increase in the number of new tenancies agreed compared to the same period in 2019.
We anticipate that rental demand will remain strong for the remainder of the autumn given the strong increase in unsatisfied enquiries from tenants in recent months. Whilst rents appear to have stabilised, we do not anticipate any increase for the remainder of the year nor 2021.
Read the full Inside Richmond report below.