Many people often flirt with the idea of reduced commuting times by moving more centrally, either as a Pied a Terre or to sacrifice space for location. Just imagine all those Christmas drinks and meals that are on your agenda and how you could walk home after, instead of catching the last train and remembering not to fall asleep and ending up in Portsmouth or beyond!
Well now could be your chance to bag a good deal. The central London rental market, and particularly that of the West End, follows a predictable annual cycle. Transaction levels mirror that of the seasons with transactions picking up in spring, reaching a peak in summer then gently tailing off in autumn. As we rapidly head towards the end of the year and the beginning of the festive season we also enter one of the best periods to find a new rental home. Like any market, when demand lowers prices will almost always drop along with incentives to encourage customers.
The rental market is no different and with stock levels rising November can be a very good time for tenants to strike the right deal with a landlord. The possibility of a long void over the Christmas /New Year period is a particularly unwelcome prospect for any landlord so tenants are likely to benefit from an enhanced degree of flexibility when negotiating a possible new rental deal. It might not just be the level of rent that’s under discussion but also furnishings or improvement items throughout the property.
Another positive is once a deal has been agreed you can often move in quicker as lower transaction levels at this time of year mean agents can turnaround the paperwork, contract and references within 24 hours sometimes.
So despite the days getting colder and the nights growing longer, this time of year can still bring a warm cheer to many tenants looking to rent at the best prices or to buy a new home in Fitzrovia before Christmas, in time for the party season!
For more information on all available stock please call Sandrine or Laura in our lettings team on 020 7323 2277 or email [email protected] or pop by to our office at 24 Charlotte Street W1T 2ND.