The Green - Richmond Edition
July 2011
Agent speaks
Aimee Bruce, Manager of Fitz-Gibbon's Chiswick office, looks at the demand for short let properties.
As we enter the summer market we are gearing up to meet the traditionally high level of demand for short let property. As expected we've not been disappointed and currently have enquiries for a wide range of short lets, from one bedroom flats to five bedroom houses, with budgets for three month tenancies ranging from £1,500pw right up to £4,000pw for larger family sized houses.
The demand for short lets this year is already exceeding levels seen in previous years and it is clear the general lettings market is gaining momentum, with many traditional owner occupiers choosing to rent whilst waiting for their ideal home to buy. Our bespoke service for high net worth individuals seeking short lets is also more active than ever.
Looking further ahead one wonders how high the demand for rented accommodation over the Olympics period will be. Fitz-Gibbon has been approached by one contact alone seeking over a thousand short let properties for the Olympic Games for journalists, film crews, runners and other media personal. However it comes as no surprise the enquiry is for accommodation as near as possible to the Olympic Stadium - but we are starting to witness demand heading westward. If you are interested in finding out more about the short lets market, or letting your property as a short let, then please e-mail directors@fitzgibbon.co.uk
Demand for long let tenancies continues at this busiest time of the year with demand continuing to outstrip supply. We are experiencing particularly high demand from our established corporate market with rent levels continuing to rise. Today, properties are typically coming to the market some 7-10% above last year's figures with the trend pretty similar across all areas we cover. Furthermore, demand in the West Kensington and Central Kensington area is up some 45% on last year, in particular for centrally located one and two bedroom properties.
Fitz-Gibbon Chiswick Office, 020 8995 3335
abruce@fitzgibbon.co.uk