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Boom!

Posted on Thursday, February 19, 2015

Sorry, hope that didn't startle you, but the Kerr & Co. news is that the rental market in Shepherds Bush is doing just that as the market continued its strong pace from the end of last year into this one. 

There is strong demand in the area (our figures from January 2014 compared to January 2015 showed the number of lettings actually doubled), and we are always looking for new stock to fill the need. A prime example of this is we recently let four flats in Kings Street for one client - at a recently launched development - and all of them went very quickly, to good quality applicants and at the asking price.

It is becoming clear that although rents continue to climb it is also apparent that so does the quality of the properties. Good ones are very much in demand and we strongly advise landlords that they need to make sure they consider improving the specifications of theirs - with items such as granite work tops and integrated kitchens - as they will certainly reap the benefits, as many tenants now have much higher standards and are expecting this as par for the course, or they will go elsewhere!

In addition, it is interesting that tenants are increasingly deciding to extend their agreements and we are experiencing a 50% renewal rate as they are looking to rent more long term. This is a key fact that landlords should be aware of and be prepared to consider having the same tenants for several years (we are aware of a number of tenants who have been in the property for more than 10 years!), which is especially pertinent if they are 'good ones', as they are well worth keeping. 

So, should you be considering renting at this opportune time - or indeed buying, selling or becoming a landlord in the Shepherd's Bush area - and would like the very best advice and service from an (award winning!), independent agent with the local knowledge and expertise to give you the complete picture, we'd be delighted to see you!