The Lettings Landscape: an overview from local expert Ashley Clements MARLA MNAEA
West London’s year in review
Before I begin my quarterly analysis, I must pause to acknowledge the knock-on effects the pandemic has had on our fellow independent businesses here in Hammersmith and Shepherd’s Bush. I know the residents of West London continue to offer their support by shopping local. It is these unique, and often independent traders, that make our communities so special.
We can all agree that 2020 has been an unpredictable year for every industry. Back in March, when the first lockdown was announced, viewings were cancelled and the office doors were shut with no idea of when they would be able to reopen. When they did reopen, it signalled the start of a tumultuous period for my lettings team – unprecedented in the 13 years I’ve served as the head of Horton and Garton lettings. A palpable urgency from both tenants and landlords flooded our inboxes and phone lines when we returned to our desks in May. Priorities shifted and outside space coupled with home offices took centre stage with many tenants making the move to upsize and incorporate that all-important garden, terrace or balcony and an extra room.
There’s no other way to put it: with our matchmaking powers in overdrive, listings flew off the shelf and into the hands of discerning new tenants. Meanwhile, our managed landlords could rest easy, safe in the knowledge our capable property management team was working overtime to keep tenants happy and properties in tip top condition during a global pandemic (!).
As for our West London landlords? The phone has been glued to my ear at all hours of the day… advising clients living in the far corners of the world on various aspects of their portfolios. At this time in particular, we are setting in place measure to maximise their return on investment and keep them one step ahead of legislative curve balls.
Despite ever-changing restrictions and market uncertainty, we quickly adapted to the ‘new normal’ and kept West London moving – cementing our position in the top 3 agencies for lets agreed across our Prime West London golden triangle of Hammersmith, Chiswick and Shepherd’s Bush. In Hammersmith we excelled, agreeing more lets than any other agency. That means that out of the 438 properties let by the top 10 agencies in W6 last year, 1 in 5 were agreed by Horton and Garton. In Brackenbury Village, this lead gets even greater with my team agreeing over 20 more lets than our nearest competitor.*
Predictions for 2021
On to my predictions for this year’s market: I could never have foretold the urgency we’d experience coming out of the Christmas holidays and back to work this month. Relaxing cup of tea and easing into the year? Far from it…! We were floored from the first day with an influx of top quality tenants looking for the finest digs in Hammersmith, Chiswick and Shepherd’s Bush – knowing we’d be the team to help find Home. The hard graft has paid dividends for our landlords – we’re Number 1 for lets agreed in Chiswick, Shepherd’s Bush and Hammersmith thus far in 2021*. An excellent calibre of tenant remains available, however with more time than ever spent at home, properties must be presented in good decorative order.
Our in-house property managers are always available should you wish to have a conversation about their tips and recommendations which will help you to achieve the best price for your property with minimal investment.
Consulting my purple crystal ball, I forsee a considerable amount of market activity for our landlords in 2021 – spurred on by Lockdown 3.0 and then a return to normalcy, with further reasons to move, later in the year. For our West London tenants, 2021 brings moving goal posts and fortunately for our landlords, we’re at the top of the table – securing the highest market value for our listings in record time. We continue to fire on all cylinders through Quarter 1 and will update you again in Quarter 2.
Business is brisk but our sterling standard of service and commitment to our landlord clients and tenants remains the same, and throughout 2020 the 5* reviews kept coming. Whether you’re a landlord thinking about letting your property, or a tenant looking for your new perfect home, I’m here for you. Call me any time on 020 8819 0511. My dedicated lettings professionals are at your service.
“I simply couldn’t imagine any Hammersmith landlord using another agent.”
–Joseph, Central Hammersmith landlord
“I have worked with Horton and Garton for about 15 years and their service and performance have been impeccable throughout. I have no hesitation recommending them very strongly.”
–Alex, The Groves, W12 landlord
“After many years renting in London, I have never come across such a diligent, helpful and thoughtful team. As a tenant I have felt, respected, listened to and importantly understood and looked well after. The Team at Horton and Garton have been outstanding. I would highly recommend them for tenants and landlords alike.”
-Prudence, Bedford Park tenant
*According to Rightmove statistics for January – December 2020
