Posts Tagged ‘merton’

A quick look at the latest RICS UK Residential Market Survey (August 2023)

Posted by Lea Bailey

Every month the Royal Institution of Chartered Surveyors (RICS) releases its UK Residential Market Survey, shedding light on the current state of the housing market across the UK.

This blog post is brought to you by our Chairman & Managing Director, John King, FRICS, who offers valuable insights from his experience here at andrew scott robertson in Wimbledon Village. He actively contributes his comments to the monthly survey for the London region.

Key outtakes from the full RICS Residential Market survey for August; 

Mortgage rates putting pressure on house prices
House prices are facing downward pressure, and it’s evident that high mortgage rates play a significant role in this situation. For potential buyers, the cost of borrowing is becoming a significant factor in their purchasing decisions. The relatively high mortgage rates are creating challenges in affordability, especially in areas where prices had surged during the pandemic.

Tenant demand outweighs supply
In the lettings market, the RICS survey paints a more positive picture, with tenant demand surpassing the available rental properties. This shortage of rental properties is a significant challenge for tenants seeking affordable housing options.

Rental prices on the rise
Given the imbalance between tenant demand and landlord instructions, rental prices are expected to rise further in the coming months. This can pose challenges for tenants looking for affordable rental options.

The RICS Residential Market survey for August 2023 highlights a market under various pressures, including high mortgage rates affecting house prices and strong tenant demand in the lettings market. As one of the leading residential sales and letting agents in Wimbledon and Wimbledon Village, we are committed to assisting both buyers and renters in navigating these challenges. Our team of experienced property professionals is here to provide expert guidance and tailored solutions to meet the unique needs of our clients, we have dedicated departments within the business that can assist you.

For more from the RICS UK Monthly Residential Market survey, you can download and read the full August 2023 report here: https://www.rics.org/news-insights/market-surveys/uk-residential-market-survey

Please feel free to reach out to us for personalised advice and assistance in this ever-evolving real estate market. Contact the right department for your needs here.

Regards,

John King, FRICS

Andrew Scott Robertson Launch a Lifeboat in SW19!

Posted by Victoria Nicol

If you think Wimbledon is just about tennis think again! Wimbledon Estate Agents and Chartered Surveyors Andrew Scott Robertson pushed the boat out to raise money for the Royal National Lifeboat Institution on Saturday 30th June.? Director Ian Ailes, who organised the event with the RNLI Clapham Branch said, ?You don?t see many boats in Wimbledon yet our nearest Lifeboat station is on the Thames at Chiswick just 7 miles away; the 2nd busiest lifeboat station in the country. It is manned 24 hours a day and has a response time of just 90 seconds.? So far this year they have attended 107 incidents and rescued 14 people and 3 dogs. Two of our Directors are Lifeboat supporters so we decided to organise a fundraising event on our Wimbledon Village office forecourt by offering to double whatever was donated on the day with a target of ?1,000. We are very pleased to say we raised over ?1,300?.?

Our photo features (L-R) Residential Sales Team: Rob Wells, David Faulkner, Samantha Cross and Professional Services Director Ian Ailes.?

Property predictions: what next for property in 2018?

Posted by Victoria Nicol

Looking back at 2017, one constant that has been proved yet again is the continued robust nature of the London property market. Despite the political and economic uncertainty of Brexit, the changes introduced to the landlord tax relief and the Bank of England?s rise in interest rates, the property market as a whole has proved to be incredibly resilient.

2017 was a great year for us as a company. Our sales turnover was up on the previous year and the team’s hard work and relentless commitment to delivering exceptional service – and achieving the best possible results for our clients – paid off with a Gold Award at the highly prestigious British Property Awards as the top estate agent in Wimbledon for customer service.

As we look ahead to 2018, we are confident that the market will continue to hold its own. Whilst there is continuing economic and political uncertainty in the run-up to Britain’s departure from the EU in 2019, the continued low rates of lending still make today’s market a good time to buy. As ever, the phrase ?Location, Location, Location? is true when it comes to the demand for property in Wimbledon, and that has encouraged more agents to open offices in SW19, giving potential vendors even more choice than before. However, with 11 sales and 7 lets already agreed in January we are off to a very positive start and, despite increased competition from local and online agents alike, we are even more determined to make 2018 our best year ever!

 

Charity Easter Egg Campaign for Jigsaw4U

Posted by Victoria Nicol

We are delighted to once again support local charity, Jigsaw4U, through our Easter Egg collection. This local charity has worked for over 15 years to support children, young people, and their families, who have experienced bereavement, loss and trauma.

If you would like to donate an Easter Egg,?please drop it into one of our?two Wimbledon offices?(Monday ? Saturday) before Friday 24th March.

 

24 High Street,
Wimbledon Village,
London SW19 5DX

Tel: +44 (0)20 8971 6780
Fax: +44 (0)20 8946 3683