Chard London Sales & Lettings Blog

Tories To Abolish Home Information Packs (HIPs) if Elected

2009-07-10T06:45:00.000-07:00

We're pleased to hear news today that a future Conservative government is likely to abolish HIPs.

We've reported at length how HIPs have failed in their original purpose of reducing delays in the sales process and have instead added another layer of red tape and expense to the selling process.

Buyers seldom, if ever even look at the HIP, and their existance adds delay to the marketing of clients' properties for sale.

Property still selling with a motivated estate agent in west London

2009-07-08T09:37:00.000-07:00

This house for sale in Bramber Road, W14 had a ‘back to brickwork’ refurbishment to create four converted flats - and then sat un-sold on the market for several weeks with several local and London-wide agents with no genuine interest and no offers.

Chard have now had it on the market for a month and have sold three of the four flats. More self congratulatory praise is inevitable here as whilst other agents sit moaning about the state of the market, their commissions and London property prices being too high, we're successfully getting on with the job selling flats and houses across London.

With the right marketing and right attitude, property is still selling in central and west London. With Chard, at least.

View full property details of the flats for sale below:

Two Bedroom Flat For Sale in Bramber Road, W14

Two Bedroom Flat For Sale in Bramber Road, W14

Two Bedroom Flat For Sale in Bramber Road, W14

One Bedroom Flat For Sale in Bramber Road, W14

If you have a property you'd like to sell in London, contact us today:

Chard, Estate Agents in Notting Hill and Kensington
tel - 020 7243 4500

Chard, Estate Agents in South Kensington & Chelsea
tel - 020 7373 8883

Chard, Estate Agents in Fulham
tel - 020 7731 5115

London Calling For International Property Investors

2009-07-05T21:55:00.000-07:00

The world has woken up to realise that London residential property is once again an attractive investment.

A de-valued pound makes London doubly attractive to overseas buyers when price reductions of 20-30% are factored in.

Chard estate agents in London are seeing less stock coming onto the sales market, at the same time as the number of transactions being agreed has increased by 60% on a year ago. With low interest rates vendors are happy to stay put. Limited supply seems set to close the "window of opportunity" of low prices for investors.

There's interest from property buyers from South East Asia according to one a report from Malaysia. As ever investors from SE Asia prefer new build developments over "second hand" property. This cultural difference among buyers means many investors are missing out on the best deals. The perception that new build is less maintenance is short sighted. Mansion buildings and well managed, substantially built conversions are not only preferred by tenants and European, American and domestic property buyers; they also have proven track records on outgoings for maintenance. Today's fashionable new-build will also be second hand in a few years time - and without the pedigree that other buyers look for.

South Africans are also taking advantage of the weak pound to buy property in London according to South Afica's Business Day.

London is seen as a stable "bolt-hole". The handover of Hong Kong in 1997 caused an influx of investors worried about their long term security. Whilst the world remains an uncertain and often dangerous place - economically and politically - London property will continue to be a preferred investment destination.

Among the principal exports the UK offers that overseas buyers want is stability and rule of law. With prices having dropped significantly and sterling at a record low against many currencies, we expect to see even more enquiries from overseas.

Rental Prices May Rise in Brook Green and Fulham

2009-06-30T21:16:00.000-07:00

Typical of the flats and houses to let in London being snapped up early, this flat to let in Latymer Court, Hammersmith Road W6 was let yesterday by Chard's Brook Green lettings office. Asking price 550 per week.

It looks like there's change in the air in the West London property market. Landlords in West London have become used to having to re-negotiate rents and often accept a lower figure than in 2007-8. That may be about to change.

As we approach the busiest time of year for the London lettings market, we're seeing less stock of property available to rent in Fulham and Brook Green, in particular. Partly this is due to a very succesful month with both offices letting over 40% more properties than one year ago - with more interest in mid value property to let especially, typically from 400-600 per week.

New graduates generally start work in September, at the same time as students return to London. This traditionally creates a wave of strong demand beginning in July and continuing into early October and exacerbated by that fact that most tenancy agreements are for a year, encouraging existing tenants to "trade up, down or sideways" on the anniversary of their original relocation to London.

Without more stock coming on to the market, many prospective tenants may find it more difficult and expensive to find a new home in London this year especially in the lower to mid price brackets under 700 per week.

Our advice to tenants right now is to find a home soon, and not delay your search until August.

London Property Market - Graham Norwood's July Blog

2009-06-29T07:30:00.000-07:00

London Property Market - July 2009. Graham Norwood's blog.

The news may be increasingly optimistic but we still need one vital ingredient before the market starts to recover.

Mortgage lending is up, says government figures; house price falls are slowing, says business consultancy Hometrack (although this firm seems to have under-estimated price falls anyway); and the Halifax says it is cheaper than ever to actually run a home should you have managed to buy one.

Yet while this good news makes a sunny summer even better, there’s still a feeling that things aren’t right. And they aren’t.

Job losses are mounting (outside London, mainly) and there are numerous reports of firms doing wildly eccentric stunts – like not paying staff for a month in BA’s case – to make ends meet. Add in the distinct feeling that we have a government undergoing one of the longest death rattles in political history, and there is only one result.

That is, a lack of confidence.

It will return, and quite soon, but it isn’t there yet. That’s why figures suggest only 400,000 of us will move house this year, compared to 1.2m just four years ago.

Don’t wish your life away but be realistic, all the same. It may be sunny out there but the housing will not be heating up properly until next year.

Graham Norwood

More Buyers Looking At Properties to Buy in London

2009-06-27T08:46:00.000-07:00

Chard estate agents London offices are seeing more buyers registering. Buyer registrations are already up 14% on May, with a few days still to run the figure could be up by around 25% month on month.

Interestingly Chard's Notting Hill and Kensington property sales office on Notting Hill Gate registered two separate buyers earlier this week who had enlisted the help of their parents to help with their search. Mum and Dad have more time on their hands than City professionals for whom taking an extra hour during the working week is not likely to be a good career move. We have viewings lined up for them both on Saturday afternooon (today).

Eight Properties Let in 48 Hours By Chard Lettings Agents South Kensington Office

2009-06-18T22:39:00.001-07:00

Chard lettings agents in South Kensington has agreed eight flats to let, with a further three also under offer in the last 48 hours.

The flats to let are in Trebovir Road, Earls Court, SW5; Collingham Road, near Gloucester Road, SW5; Cornwall Gardens, SW7 just north of Gloucester Road underground; Penwern Road, Earls Court, SW5; Elystan Street, Chelsea, SW3 near the Kings Road and Sloane Square; Eardley Crescent, Earls Cort, SW5; Earls Court Road, SW5 and Brechin Place in South Kensington SW7.

Asking prices varied from 265 to 575 per week, in line with the established trend towards demand for smaller flats to let in London close to good transport.

Chard lettings office in South Kensington & Chelsea is managed by Richard Saltmer who joined Chard as a negotiator eight years ago, becoming manager of their lettings office in Fulham and then South Kensington & Chelsea lettings in 2006.

If you have a property to let in South Kensington, Earls Court, Gloucester Road, Chelsea or Kensington contact Richard Saltmer on 020 7244 7711.

Rental Income From Garage Facilitates Sale In Westbourne Grove

2009-06-18T22:20:00.000-07:00

Chard estate agents in Notting Hill has just exchanged the deal on a two bedroom flat for sale in Kildare Terrace, W2 where the rental income from the garage was the deciding factor for the buyer.

The property had been on the market since 2008 with a London/Surrey estate agent that had failed to tie up any sale. The vendor instructed Chard in April 2009 and we agreed the sale within 2% of asking price in May, after a total of 31 viewings.

The buyer is being helped by a family member who will benefit from the rental income on the garage. Hopefully this will provide not just a better yield than on offer at any bank but also help the buyer get a solid foothold on to the London property market.

Euro Fears Boost London Property Sales

2009-06-18T08:49:00.000-07:00

Chard estate agents' London offices have agreed eight sales in the last five days to eurozone buyers.

This level of activity amongst buyers is remarkable, with offers being agreed on properties for sale in Kensington, Notting Hill, Holland Park, Earls Court and South Kensington - particularly in the Gloucester Road area.

There's not a great deal of stock of properties for sale in London right now and buyers with euros seem unusually keen to secure property. Sterling's recent rally against the euro seems to have convinced a sizeable number of European buyers that the euro might be the next currency to take a tumble - and for the moment, at least, vendors in London are poised to benefit.

If you have a property to sell in London contact Chard London Estate Agents on 020 7602 3366.

An Extra £145,000 For Vendor Selling Bayswater Property With Chard

2009-06-05T20:24:00.000-07:00

Property for sale close to Hyde Park brings out bidders!

Chard's Bayswater sales team based at their Notting Hill and Kensington offices on Notting Hill Gate received a call from a vendor selling a maisonette in Westbourne Street, W2.

He had an offer on the table via another London estate agent at £725,000 and wanted to know if this was "in the ball park". Mark Sommerville, the area sales manager visited the flat for sale in Bayswater and recommended an asking price of £850,000 based on the fact that he knew there were multiple applicants registered with Chard looking for similar properties for sale in Bayswater and the Hyde Park area.

The vendor was cautious, and concerned about stories of estate agents over valuing to secure instructions. However Mark was able to reassure him and within two weeks had an offer of £850,000 on the table. Chard was then able to secure interest from three separate bidders in order to identify the buyer at both the optimum price and just as importantly one likely to lead to a succesful and timely exchange.

Within two months - start to finish - Chard has now exchanged the property at £870,000. That's an extra £145,000. Not bad for a simple phone call!

Chard Notting Hill & Kensington sales - 020 7243 4500

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£20,000 Over Rival Agent's Agreed Price For Flat for Sale in Chelsea, SW3

2009-06-02T09:08:00.000-07:00

Having been 'under offer' with another Chelsea estate agent for a couple of months, Chard South Kensington & Chelsea Estate Agents were quick to seize the opportunity when this flat for sale in Chelsea, SW3 came back onto the market. Within 48 hours of the original sale falling through, Chard had agreed the sale at £20,000 over the original agreed price.

The buyer is a buy-to-let landlord who has a large deposit in the bank and wants a rental income.

Chard has almost 2,000 flats and houses currently actively let in west London to both corporate and private tenants - and a wide pool of buy to let applicants looking with their London estate agency offices for property investment opportunities in central London.

Chard Reports More Activity in May 2009 London Lettings Market

2009-06-02T05:44:00.000-07:00

Chard's lettings offices and teams in Notting Hill and Kensington, South Kensington & Chelsea, Pimlico & Belgravia, Fulham and Brook Green & Shepherds Bush let 23% more properties in May 2009 than in May 2008.

The total value of these lets increased by a more modest 11% year on year. This reflects a drop in rental values in London as well as the oft reported trend towards corporate and private tenants alike seeking lower cost flats and houses to rent in London.

One trend worth noting is that the variance between the increase in the number of properties let in London by chard and the aggregate value of business agreed is narrowing. A sign perhaps that rents have not only stopped falling but have already started to increase.

Roll on the Summer months!

House Prices are Rising. House Prices are Falling!

2009-06-01T22:16:00.000-07:00

If we are to believe the press, house prices in London are both falling and rising (well so says the Tehran Times!). There isn't a consensus. Have prices bottomed out? Is now the right time to buy?

The evidence on the ground is more straightforward. More sales transactions are being agreed. There has been a sense among investors, most notably buy-to-let landlords, that now is a great time to expand a rental portfolio - in London at least. After all, mortgage tracker rates on their existing portfolios give many of them very healthy cash flows. Sales prices have dropped some 20-40% yet rents on carefully chosen properties haven't suffered anywhere near as badly. On many well located, smaller flats rents have proven remarkably resilient in fact. Yields are looking pretty attractive right now, especially compared with other investment vehicles for those lucky enough to have cash to invest.

The pound has looked very cheap too. Overseas investors have piled money in to London property; many of them buying to let with Euros.

Yet what we believe we are seeing now is more simply the effect of a "Spring/Summer bounce". This is always the most popular time of year to move and many owner occupiers had held back waiting for the world to end. Which it didn't. Invstors have provided a safety net for the market. Once it dropped to below a certain level, rental yields made it an attractive place to keep money - as witnessed by the number of properties now on the rental market and the record numbers of properties being let in London, by Chard's offices at least!

Rents Unchanged After Falling for Nine Months Says Property Portal

2009-05-28T09:42:00.001-07:00

The BBC reports that after nine months of consecutive falls in asking prices that rental prices have stabilised. According to the report typical asking rents for residential property increased by 0.3% in London from April to May..

This is hardly surprising. The summer months are traditionally the busiest time of the year for letting property in London. We'll be posting actual numbers for asking prices vs agreed prices for flats and houses let in London during May 2009 in the next week or so to give a snapshot of the reality of the London lettings market - rather than the expectation as evidenced by asking prices alone.

We don't believe there are any conclusions to be drawn from today's news - other than the weather's getting warmer and it's a nice time to think about a move. Stock levels are uncomfortably high for the time of year, and we'd expect prices to rise by at least 0.3% from April - May on any given year. Of more interest is the fact that we have already exceeded 2008's figures for lettings both by number of transactions and total value of business agreed. People are renting in increasing numbers for reasons already examined at length.

For landlords in serach of green shoots as well as tenants anticipating rents falling further it's still too early to call.

Property descriptions - Roy Brooks must be turning in his grave

2009-05-27T10:31:00.000-07:00

No more brothels in Pimlico.......

News that portals and a local newspaper have discontinued carrying an estate agent's descriptions because of "offensive content" seems a sad sign of the times. The assumption that people are too stupid to "get it" says more about those portals and local paper than we could ever repeat here.

Whilst one might easily argue that humour is best left as the preserve of professional comedians - and selling & letting properties left to estate agents - there does seem to be a very special kind of "sense of humour failure" at work here.

If descriptions that are otherwise totally unoffensive are to be banned can we please suggest that any property descriptions containing the words "stunning", "charming" and "delightful" be trashed first?

In the meantime, here's one of our favorites from Roy Brooks, that estate agents today sadly daren't emulate. However much a silent majority of buyers and sellers might wish.

"Fashionable Chelsea, A clapped out early Victorian villa. Semi detached so you can get your motorbike round to the dirty patch of weeds which passes for a garden........... Dirty, dark brown varnished woodwork dating back to the General Strike (property misdescriptions would have you for that one as well Mr Brooks - what if it only went back as far as WW2?) .....Quiet backwater abutting hospital laundry."

Graham Norwood's Blog, June 2009 for Chard London Estate Agents

2009-05-27T08:45:00.000-07:00

Housing market green shoots appear like mirages in the summer heat. They are on the horizon and then fade when you come close. Red tape, alas, appears all too real.

Word on the street now, amongst lettings and sales agents alike, is that many landlords have had enough.

£50 for a licence may seem small fry for landlords to pay if, as appears likely, a new initiative from the Department of Communities and Local Government comes to pass. But surely we’ve reached the point where landlords have to shout: Stop!

Think of what else they have to pay for. There’s the annual gas and electricity safety inspections, an energy performance certificate and inventory and deposit charges. Some need a licence if they own a House in Multiple Occupation – and if they did not quit as landlords when that law came in two years ago – plus a fire certificate.

Each of these measures costs hundreds of pounds, takes weeks to arrange, and bites into rental income at a time when landlords have to encounter hard-bargaining tenants and the prospect of capital values falling.

Little wonder landlords are depressed.

If MPs could stop completing expenses applications, they might consider scrapping the red tape if they want a sustainable private rented sector and a kick-start to the housing market.

What are the chances of that, then?

London Property Looking Attractive to Investors

2009-05-24T04:33:00.000-07:00

With stories abounding of investors in overseas property struggling to get their deposits back on housing and apartment developments that now look unlikely to be started, let alone completed, it's worth reflecting on the prospects for the London market.

There is a wide choice of ready completed property for sale in London that offers excellent yields with virtually assured rental demand from a widening pool of would-be tenants. Sales prices have fallen by as much as 30-40% in extreme cases. Moreover the UK benefits from a robust judicial system that doesn't discriminate between "locals" and foreigners in property investment disputes.

Finance is readily available, the pound is at an all time low against a basket of currencies and with a dearth of other investment opportunities it seems that buying property in London makes very good sense.

Over 200 Lettings Agreed March - April 2009

2009-05-19T03:52:00.000-07:00

More evidence of the strength of demand for flats and houses to rent in London - our lettings teams agreed over 200 deals in March - April.

Also of note the numbers of properties currently let increased by around 40, to a shade under 2000, showing that fewer people are moving in to properties to rent than out. With Chard at least!

Early Bird Catches The Worm In Holland Park Lettings Market

2009-05-15T04:51:00.000-07:00

On an appointment to value a property to let in Holland Park, W11 the landlord explained to us that as the previous tenant had originally been found through another estate agent she was planning to allow them two weeks "grace" before instructing Chard.

As soon as Leon Bell, Chard's Holland Park lettings manager saw the property he realised that it would be perfect for a prospective tenant registered with one of his most experienced negotiators. The applicant, a senior executive with a well known internet company had been recommended to Chard London lettings by a work colleague for whom we had recently found another property to rent in Notting Hill.

Leon explained to the Landlord that he may have the perfect applicant for the flat and she agreed to a one off viewing, after some gentle persuasion, later that day. The next morning, following a second viewing with the prospective tenant, and only 24hours after Leon first saw the flat we agreed the deal. And within a hair's breadth of the £595 per week asking price, a pretty impressive rent for a one bedroom flat in the current lettings market.

Thanks to our determined telesales team and a persistant negotiator, we succeeded once again in securing a great deal for a landlord client.

Chard Increases Property Advertising With Archant Group

2009-05-14T03:43:00.000-07:00

In a challenging property market it's essential that we offer our clients maximum exposure for their properties when selling and renting in London.

Whilst other estate agents in London trim away at their marketing budgets, Chard is not only maintaining it's exposure on leading property portals but also expanding its adevrtising with the Archant Group who publish the Hill, Resident, Westside, SW magazine and the Grove.

This week Chard agreed to increase its coverage across these titles by sixteen full pages, in addition to their current spend.

An Agent Speaks - Editorial for SW Magazine Fulham, June 2009

2009-05-12T09:57:00.000-07:00

Whilst our politicians are side-tracked and slide around in their own ordure, the rest of us continue growing our businesses - hopefully without the risk of another government “inishitiv” throwing a spanner in the works. Even the pound and stock-market have risen over the last week.

On the subject of government "inshitivs", enough ink has been spilled in this forum on HIPS, and how they are virtually useless to buyers in London, so I won’t labour the point further.

Of more immediate concern is the government behaving like a jilted young lover with the City. As they once loved, cooed over and worshipped; now they appear to loathe. This may play well at the ballot box as bankers (closely followed by MPs) replace estate agents as the people we most love to hate. Sadly it’s the London property market that may end up paying the price for “banker hate week” as international investors and other “nasty rich people” are welcomed with open arms in Geneva, Zurich, Frankfurt, New York and Paris.

The square mile with its financial services, legal, accounting, insurance, IT support, catering and other dependant industries, has been the engine of growth for the private sector economy in England and funded much of the state’s profligacy elsewhere. Raising income tax to 50% for those on incomes over 150,000 is likely to raise little if any tax, as these people take their businesses, money, skills, initiative and jobs elsewhere. In the coming years expect to see fewer City high-fliers chasing that five bedroom house on the Peterborough Estate as well as fewer young professionals looking for more affordable flats to buy and rent as a consequence.

The difficulty is securing finance is still an obstacle to buying for many otherwise very credit-worthy first time buyers. Renting is therefore more popular than ever and we are seeing fewer tenant vacates in Fulham, Putney and Battersea than at any time in the company’s history. At a time when the government needs to be encouraging new landlords to enter the market, I'm surprised to see a proposal that will force all landlords to obtain a licence and add further bureaucratic hurdles to the process. Of course we all welcome legislation that will encourage landlords to comply with existing legislation and improve the overall standard of rental properties in London. So why not allow up to 20% of a property’s gross rent deductible against tax for repairs and improvements – and stimulate the moribund building trade in the process?

Whilst other estate agents in London have been running for cover Chard has grown. Our expanded team in our new Ful ham Broadway office has had a very successful year. Lettings business has grown by 18% (yet we had to let around 40% more properties to achieve this). Rents on larger properties have fallen, but the real story is in the detail. Tenants more than ever want smaller, affordable flats close to good transport, and here at least, prices are holding up in the face of steady demand and a relative paucity of supply.

Half the sales we are agreeing in the SW area under 500,000 are now to buy to let investors. There’s a feeling that we may be at, or near, the bottom and that they will miss out if they don’t buy now. Excellent fixed rate mortgage deals for those with reasonable deposits and steady rental demand is also encouraging new investors into the market.

It’s premature to talk of green shoots, but sales have picked up well since March. With assured rental demand, for now at least, prospects are not as bleak as they were a year ago. Who knows; if only the government can be kept busy sorting out MPs expenses until the next election then there’s every chance that London and the London property market may recover quicker than we had dared hope - and burst back into health by 2010.

Andrew Chard
Chard sales and lettings

Government Plans Compulsory Licensing For All Landlords

2009-05-07T07:26:00.000-07:00

More red tape for landlords looms on the horizon if we are to believe the report in the Times that the government is to introduce compulsory licensing for landlords in a bid to stamp out errant landlords.

We support any initiative that will improve standards in the residential letting industry but it remains unclear exactly how this will help. It seems more likely to create more pit-falls and obstacles for honest landlords committed to delivering on their side of the bargain - whilst as ever the rogues will slip under the radar.

Perhaps more useful would be some action to allow landlords faster possession and recompense where tenants are willfully errant. That of course might be too much to wish for. Meanwhile we wait to see what becomes of this latest non-job creating "inishitiv".

Does Buy to Let Make Sense In Current London Property Market?

2009-05-03T08:50:00.000-07:00

The Times reports that buying a property to let is making a return. We certainly agree. We're selling a higher proportion of flats in London to BTL investors than in 2007/8 - but is now a good time to buy?

Juries across London are still out as to whether we are at the bottom of the market or whether house prices in London are likely to fall further. Here are our thoughts about buying to let in London today:

Buy at the Right Price:
Pay an unrealistic asking price and you certainly risk losing capital. Fortunately many vendors are now pricing to sell, so researching the market thoroughly is essential. When you find a property that works for you act quickly. Others will be chasing it too.

Research the Lettings Market:
Ask your lettings agent what sort of properties are most in demand - and in short supply. As a general rule buy a property that covers several markets. For example some two bedroom flats, although ideal for a couple, can be a tough sell in a difficult market if the second bedroom is small and risks putting off professional sharers.

Also find out about and budget for remedial works and refurbishment that your lettings agent may recommend to help ensure the "lettability" of your intended purchase.

Get the Right Finance:
There are some very good fixed rate deals available, so shop around! Use a broker that will research the entire mortgage market for you and not one who's just looking to earn the fattest commission.

Price to Let:
Your letting agent can advise on the right price to attract a high quality tenant within a realistic marketing period. It's in no-one's interest to have your property linmgering on the market, yet some agents are still overstating rental values just to win instructions - resulting in an otherwise wholly avoidable vacant period and loss of income to the client as the result.

One thing we believe is certain. As Chard is letting more properties than ever before, buy to let investors who buy for the market will readily find tenants for their properties.

For more advice on buying to let in London contact Gareth Jones on 020 7243 4500 or e mail him at gareth.j@chard.co.uk.
For advise on the rental market our lettings managers are on hand to advise and appraise your prospective property purchase -irrespective of who you are buying with.

Student Letting Market in London Likely To Grow in Kensington, Chelsea and Westminster in 2009

2009-05-01T21:21:00.000-07:00

Many landlords' views of student lets are more shaped by watching Rick Mayall in "The Young Ones" than any actual experience of having them as tenants. The reality of student lets in London is very different and we see fewer problems with student than most other tenants. As one of our multi property landlords argues; "Give me a student rather than a lawyer as a tenant any day".

Many lets are to overseas students where the rent for the term or a substantial amount is paid in advance. For UK grown students a guarantor is generally required, ensuring that parents or favorite uncles and aunts assume an interest in ensuring that the property is well cared for.

We saw a small decline in 2006/7 in students renting in prime areas of London, including Kensington, South Kensington, Chelsea, Westminster and Notting Hill. There simply weren't enough properties to go round and tenants found themselves priced out of the market by bankers and city companies doling out with generous relocation allowances. With fewer corporate family tenants now in the market to rent a new home in London, students have a wider choice of flats and houses to rent that are suitable for sharers.

There are already more enquiries coming in for flats to let in London from well heeled language students. The decline in the value of the pound and in many London rents means that prime areas such as Knightsbridge are very much in vogue again as they become more affordable. It's great news for mum too, who can once again nip into Harvey Nichols when visting.

The traditionally busy summer months look set to provide a boost for landlords in central London this year - at least for those wise enough to dispel any lasting images of anarchist punks, spivs and hippies that popular culture left of student lettings back in the 1980s.

Spareroom.co.uk Launches Magazine For Finding Flatmates

2009-04-29T10:31:00.000-07:00

We're pleased to learn that the flat sharers website Spareroom.co.uk are launching a new magazine aimed at people looking for flatmates to share properties.

We've reported elsewhere that tenants are looking for value. Tenants are downsizing -and sharing has become the preferred choice for many city professionals who would otherwise have looked for their own one bedroom flats or studios to let in London.

Many larger properties that let to corporate tenants on relocation allowances, typically priced from 600 - 1000 per week, are now attracting interest from professional sharers. Prices have softened and our central London lettings offices are agreeing more two and three bedroom flats to sharers than at any time in Chard's history. Landlords in London are increasingly receptive to offers to rent from sharers, rather than risk a void period in search of increasingly elusive high value financial services tenants.

The team at Chard wish them every success with their venture. It's certainly fair to say they've got their timing just right.