Our office at 24 High Street, Wimbledon Village will close today from 12 noon. We will open as usual on 2nd January 2023.
Merry Christmas & A Happy New Year from the team here at andrew scott robertson.
Our office at 24 High Street, Wimbledon Village will close today from 12 noon. We will open as usual on 2nd January 2023.
Merry Christmas & A Happy New Year from the team here at andrew scott robertson.
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 hiscomments to the monthly survey for the London region.
The latest insights from the November 2023 RICS UK Residential Survey suggest a positively optimistic outlook, supported by a slight easing in mortgage rates.
Sales Market Highlights
New Buyer Enquiries
Positive feedback on new buyer enquiries has been observed across all UK regions, and locally in London, best-in-class properties are still selling well, due to competitive mortgage rates heading below 5%. The net balance for new buyer enquiries in November stood at -14%, this figure is the least negative since April 2022 indicating a potential uplift.
Agreed Sales
The national net balance for agreed sales improved by 12%, signalling an increase in the volume of sales. The average time to finalise a sale has also improved slightly due in part due to an improvement in efficiency.
New Instructions
The flow of new instructions onto the market has remained low in both October and November. Respondents report that the number of market appraisals is still below the levels seen twelve months ago. In London, although experiencing a slowdown in transactions due to a lack of stock, there is a sense of encouragement among both buyers and vendors.
House Prices
The survey’s indicator of house price trends posted a net balance of -43% in November. While still demonstrating a downward trend, this figure represents an improvement from -61%, suggesting a moderation in the pace of house price declines, particularly in several UK regions.
Lettings Market Insights
Tenant Demand
Tenant demand remains positive, although slightly easing compared to previous quarters, this is a seasonal change for this time of year.
Landlord Instructions
Landlord instructions remain on a decline, posting a net balance of -18% in November. Despite this and the modest dip in tenant demand, the lettings market maintains resilient, with projected rental price growth, indicating an ongoing demand-supply dynamic.
For more from the RICS UK Monthly Residential Market survey, you can download and read more 2023 reports 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.
Regards,
John King, FRICS
As the winter chill settles in, it’s crucial for both tenants and landlords to ensure a safe and cosy living environment. Below you’ll find our practical tips to navigate the incoming winter season smoothly.
Combat winter dampness by regularly wiping away condensation, especially around older wooden window frames. Utilise extractor fans in bathrooms and kitchens, or leave a window slightly open after moisture-generating activities.
Contribute to pipe care by setting the heating to a low temperature, preventing freezing and aligning with potential tenancy agreement requirements.
Keep a bag of salt on standby for freezing nights and consider crafting a snow clearing plan to prevent slippery situations around your property.
Prioritise safety by choosing LED candles over traditional flames, reducing the risk of accidents.
Have emergency numbers on hand for locksmiths, plumbers, and other essential services. Being prepared for unexpected issues during the festive period provides peace of mind.
For our full guide on winter property maintenance, email Nicola to receive our detailed TENANTS MAINTENANCE GUIDE – Winter Edition PDF. Stay warm and secure throughout the festive period with more tips like these, including what to do if your boiler shows an E133 code, and what you can do to further secure your property if you’re going away.
Property management plays a crucial role in maintaining your property’s well-being during the winter season. As expert Property Managers, we ensure that the homes in our care are always in top condition, by providing expert advice and support to landlords and being a reliable point of contact for tenants for any issues they may face. For more information on our property management services, feel welcome to contact Nicola Dixon directly on +44 (0)20 89714952 or via email on ndixon@as-r.co.uk.
We are proactive in management, we ensure tenants and landlords have everything they need to know. When you choose us, you benefit from our membership in ARLA, the Association of Residential Letting Agents, signifying our commitment to professionalism, ethical practices, and ongoing education.
Here’s what tenants and landlords gain when we manage your property for you…
Our ARLA certification assures tenants and landlords of expert guidance in navigating the complexities of the rental market.
We adhere to the highest standards of professionalism, ensuring a positive and transparent experience for both tenants and landlords.
Our commitment to ethical practices means you can trust us to prioritise your well-being and satisfaction.
We stay up-to-date with the latest industry trends and regulations, providing tenants and landlords with the most relevant and valuable information.
If you are looking to Let or Rent a property in Wimbledon, Wimbledon Village, or the surrounding areas, we are here to help. Contact our experienced Lettings team on Tel. +44 (0)208 971 6780 or visit our team page here.
We are excited to share the details of the upcoming Christmas in the Village 2023, a magical event organised by the Wimbledon Village Business Association. This festive family fun day, taking place on Sunday, 3rd December from 10 am to 5 pm, promises to be once again a delightful array of activities for all ages.
Christmas in the Village is a heartwarming celebration aimed at bringing the community together while supporting a local charity, Wimbledon Guild. Organised by the Wimbledon Village Business Association, this event features a plethora of activities, ensuring a day filled with joy and festive spirit. And, we can’t wait to see you there!
Key Activities:
Santa’s Grotto (10 am – 4.30 pm): Santa will be welcoming children in his Grotto throughout the day, located at the heart of the Village outside The Dog & Fox (right next door to us!).
Christmas Market (10 am – 3 pm): Explore a festive market along the West section of the High Street, offering a selection of delectable food, drinks, and unique gifts.
Fairground Rides (10 am – 5 pm): Enjoy the thrill of fairground rides, adding an extra layer of excitement to the festivities.
Special Activities for Children:
(to book activities, visit https://www.wimbledon-village.com/events/christmas-2023/)
Grand Finale: Tree Lights Switch-on and Carols (5 pm): Head on down to the Village War Memorial for a heartwarming carol singalong, accompanied by complimentary mince pies and mulled wine.
Stay Informed: For the latest updates on Christmas in the Village 2023, follow the organisers on social media:
Note: Certain activities require pre-booking. To reserve your spot and explore all pre-bookable activities, visit the official Eventbrite page: https://www.eventbrite.co.uk/o/wimbledon-village-business-association-10043984155
Let’s come together and make Christmas in the Village 2023 a day to remember!
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.
Residential Sales Market Insights
Buyer Demand
Despite challenging market conditions, there’s an improvement in new buyer inquiries, This indicates a more optimistic outlook compared to previous months.
Agreed Sales
While the net balance for agreed sales in October still reflects a challenging market (-25%) compared to this time last year, there’s a positive shift from figures recorded in August and September. What is evident is the timeline from agreed sales to legal completion, this has moved out from an average of 13 weeks to over 20 weeks. A cautious outlook for the remainder of 2023 and early 2024 remains on the cards as the cost of living continues to rise.
New Instructions
The flow of new instructions has begun to slow, as new year aspirations by vendors for a better market takes hold. However, with buyer demand still evident new stock coming to the market now will result in a flow of viewings if valued correctly.
House Prices
In October, the headline indicator on house price trends posted a net balance of -63%, when viewed across the country. Locally a much better picture emerges showing an improvement from previous months indicating between -5 to -10% is the achievement rate when set against current asking prices.
Lettings Market Insights
In the lettings market, tenant demand remains positive, although there’s a slight easing in demand compared to previous quarters. Landlord instructions have declined as rental levels have peaked contributing to a further reduction in listings, due to in part of landlords placing their properties on the market for sale instead.
In conclusion the lettings market has become a positive and safe investment over the years and this will remain to be the case for years to come providing interest rates remain no higher than their current level, this is underpinned by the build to rent market having stalled.
For more from the RICS UK Monthly Residential Market survey, you can download and read more 2023 reports 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. Find the right team for your needs here.
Regards,
John King, FRICS
Showcase your property…
An open house event with viewings by appointment only allows potential buyers to see your home in its best light, creating a lasting impression. With a single, well-prepared day, you can turn your home into a showpiece. Imagine welcoming visitors with fresh flowers on the table and a cosy, crackling fire. This attention to detail ensures that your home is presented at its absolute best, making it more likely to stand out above the rest.
Increase visibility…
Promoting an open house event generates excitement and interest. When potential buyers know there’s a specific date to view your property, it sparks their curiosity and makes them more likely to consider your home. This time-limited opportunity can create a sense of exclusivity, often resulting in multiple offers and the potential to increase the value of your property.
Convenience…
Scheduling multiple viewings in a single day streamlines the process, benefiting both you and potential buyers. By hosting your open house event on the weekend, you accommodate potential buyers who might otherwise struggle to find time during their busy workweek. This added convenience can lead to more visitors and, ultimately, more interested parties. A weekend viewing often allows potential buyers to take their time and experience your home without the rush of their work-related commitments. Additionally, if you’d rather not be present, it affords you the chance to enjoy a day out while we take care of showcasing your property.
Motivate buyers to view…
The limited viewing slots on a specific day can create a sense of urgency. Potential buyers are often motivated to make decisions quickly, knowing that others will also be viewing the property on the same day. This urgency can lead to more immediate and competitive offers. When buyers sense that they might lose the opportunity to purchase your home, they are more likely to act decisively.
Personal Interaction…
An open house event gives you the opportunity to be present where you can engage directly with potential buyers, answering questions and highlighting your home’s unique features. Your first-hand knowledge and passion for your home can play a significant role in making potential buyers see a future in your home. If you prefer not to be home, leave it to us and we can show off your homes USPs and provide your buyers with everything they need to know about your home and the area.
Ready to make the most of your property sale?
Contact us today to schedule your open house event and take the next step toward a successful sale! We will ensure that all viewings are strictly by appointment and only for buyers that we have fully registered.
Call us on 020 8971 6780 or pop in to meet the team here at andrew scott robertson, next to the iconic Dog & Fox in Wimbledon Village.
We are a proud member of The Guild of Property Professionals, a unique network of 800+ Independent Estate Agents across the UK – We can promote your property far and wide thanks to our nationwide (and international) connections. If you’d like to speak to a property expert, give us a call for a quick chat or click here for a complimentary appraisal of your property.
Last night marked an exceptional occasion as the Merton business community gathered at AFC Wimbledon to celebrate the Merton Best Business Awards 2023. It was a night filled with recognition, celebration, and the carnival-themed vibes that set the stage for a memorable evening.
Organised by the Merton Chamber of Commerce, this event provided a well-deserved spotlight for businesses to shine, honouring their dedication, innovation, and outstanding achievements. The awards featured a wide range of categories, including the Independent Business Award, Best Customer Service, Sustainable Impact, Best New Business and the category that we sponsored Best in the Property Sector plus many others, showcasing the diverse talent within Merton’s business landscape.
We were particularly delighted to be a Gold Sponsor of the event, supporting and celebrating the incredible businesses in our local community. Stewart Rolfe, attended on behalf of our company, noted “Sponsoring an award at the Merton Best Business Awards was an opportunity we couldn’t pass up. It allowed us to align our brand with excellence, innovation, and dedication – values we hold dear. We are immensely proud to be part of an event that recognises and celebrates the achievements of local businesses, who contribute significantly to the growth and prosperity of our community.”
The highlight of the evening was undoubtedly Home Instead Wimbledon & Kingston, who clinched not one, but two prestigious awards: the ‘Digital Excellence Award’ and ‘Top Woman in Business’, ultimately being named ‘Best Business in Merton’. Their ability to adapt and leverage technology during challenging times left a lasting impression on the judges.
Clare Jefferies, the driving force behind Home Instead Wimbledon & Kingston, delivered a touching and emotional speech, expressing her gratitude, “I’ve been running my business for 13 years, and all I think of is delivering the best care I possibly can for older people in their homes…that’s what we do, and we do it really well. My team makes every day special for an older person in Merton, and I’d like to say thanks to my team and all my 150 carers…this award is for them!”
Diana Sterck, CEO of Merton Chamber of Commerce, the mastermind behind these awards, summed up the evening beautifully: “Last night was fantastic! We spent a long time planning these awards and put a lot of effort into giving the business community a night to remember.”
As we reflect on this remarkable event, we offer our congratulations to all the winners and finalists. We were honoured to be part of this unforgettable evening. We would also like to extend our sincere congratulations to the winners of our sponsored award category, Lewis & Co, and the runners up, Russell Hewes Limited. It was a delight to meet you and present you with your award.
For a complete list of winners and runners-up, please visit Merton Best Business Awards . We look forward to the return of the awards in 2024, and remember to apply, don’t miss the opportunity to be recognised and celebrated for your outstanding work in the Merton business community.
If you are looking to buy or sell, let or rent, a residential or commercial property in Wimbledon, Wimbledon Village, Merton or the Surrounding Areas please do not hesitate to give us a call on; Residential Sales 020 8971 6780 or Commercial 020 8971 4999.
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.
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