The Green - September 2010
AGENT SPEAKS
Canny investors are looking to enter the market, says Susan Fitz-Gibbon
SOON, THE WONDERFUL autumn colours will begin to appear on the trees and the summer holidays will be thoughts of the past. With the changing season, so enters the new school year and with this we experience an influx of relocates, not just families but couples and individuals too.
However, this year we have seen the change occur faster, with many people seeking to secure their new home well before the normal September influx, and this has caused a knock-on effect to the lettings market that cannot be ignored.
With the demand for properties now increasing rapidly, it has caused the number of properties available to deplete and we, together with many other gents, are witnessing astute investors who are entering back into the market. Is the buy-to-let market returning? Well. I would suspect not as it used to be, which is no bad thing. There is caution afoot with investing in property and returns on rental investments being key to attractive investments.
Rents are increasing, as tenants extend and as new tenancies are created. Mark Tripp, who has worked in Chiswick for many years, recently joined Fitz-Gibbon as manager of our Chiswick office. He joins us following a senior role working for a respected relocation company and Mark comments: "We are exceptionally busy and have just secured our second tenancy this week where the rent has been fixed for two years. This is a positive indication that tenancies are strong and the corporate market recognises rents are increasing. Good properties will, and will continue to let quickly. These are exciting times in the rental market and I am delighted to be heading this busy office."
With rents increasing, it is important the correct tenancy agreements are being drawn up. So as a word of caution, ensure you, or your agent, is fully aware of the changes coming into effect on 1 October relating to Assured Shorthold thresholds and ensure the necessary amendments have taken place to your tenancy agreement.
If you are thinking of investing please contact Directors@fitzgibbon.co.uk