Our York office has a boutique and niche feel, and we cover the upper end of the residential market in North Yorkshire, selling some of the finest property in the region. Our mission is to deliver optimum service and results for vendors and buyers alike by combining cutting edge marketing strategies with our knowledge of the market and our personable skills. The type of property we sell befits the Sotheby’s International Realty brand thus making our connected business perfect partners to work with each other.
York is seen as a property “hot spot” in the north of England. The city centre is abundant with wonderful architecture as well as cutting edge modern development and a vibrant lifestyle, making it a go-to destination. Connectivity to London is wonderful with direct trains taking less than 2 hours to travel between the two places which has resulted in the last year many people relocating from London to York simply for a better life work balance. From York, the journey takes 40 minutes to reach the North York Moors National Park or The Yorkshire Dales and in 1 hour you are at the coast.
York has also seen strong capital growth year-on-year and now is one of the most prime destinations to live in the north. It is also a very popular tourist destination so those looking to invest and generate income through holiday lets are doing so.
Media Requests for UK Sotheby’s International Realty:
Deborah Battsek: email@example.com
Britain’s Most Expensive Houses follows top agents from UK Sotheby’s International Realty as they offer insight on some of the most spectacular properties on the market. Channel 4 picked up on the need to provide a little escapism whilst also acknowledging a world-wide trend as people sought properties with more space in light of the pandemic and the stamp duty holiday. The documentary will air at 8PM on the 28th of December.
Demand for property in the London lettings market is outweighing supply more than ever with stock levels down across prime central London – for foreign buyers looking to capitalise with a rental investment or considering growing their portfolio, now is a fantastic time thanks to the weaker pound as demand for rentals is growing more and more as buyers are looking to the rental market as a solution during this time of uncertainty.
I recently read an article in the Financial Times on London Lettings which discussed this topic saying “The number of homes in prime central London being listed to rent in the second quarter of the year was down 5.3 per cent on the 2018 figure and is almost 22 per cent lower than the same period in 2016”. This combined with all this additional demand means the ratio for tenants to every new listing is getting higher and higher and demand is showing no signs of slowing.
From looking at what we have let this year and what would be a good investment for any buyer looking at London – new build & boutique developments stand out due to the fact they are brand new, most have excellent views of London in some way or another and also have a great selection of on-site facilities for the Tenant to use from gyms, to spas and often swimming pools as well as 24-hour concierge offering the Tenant the experience of living in a hotel but with far more flexibility.
Please see a couple of properties we currently have available which would make excellent rental investments:
Adelphi Terrace, WC2N
Expected rental value of £1,350pw
Yield of 3%
Bell Yard, WC2A
Estimated Rental Value of £1,750pw
Yield of 3.6%
In spite of the lack of stock, we are continuing to see good results in lettings with the stock we have and August is typically a strong month sitting in the middle of the busy summer market. We are still seeing a large number of relocations to London for business with our Head of Mayfair & Marylebone, Diana Tran, secured several high end tenancies from £2,000pw with several American families as well as corporate relocations from China and Japan. The student market is still very active with a large number of deals agreed with international students ranging from £400pw to £2000pw which is typical from wealthy foreign students coming to London and this market will remain active through until September when term starts.
Summer is in full swing and this is the time when London sees an increase in lettings activity. This increase is due to two reasons. Firstly, with more people traveling to London for the summer months the number of holiday short lets have risen with recent transactions ranging between £5,000 to £25,000 per week from anywhere between 2 weeks to 2 month stays. This trend has been particularly strong from our Middle Eastern clients enjoying of the cooler temperatures and Americans taking advantage of the UKs proximity to Europe. Secondly, this is the time of year when we begin seeing corporate companies relocating their staff to London. We’ve recently had relocations from New York and Turkey, and this is a positive sign that London remains a top destination for professionals. That combined with the student market which coincides with the new academic year starting in September, we’ve seen a steady stream of international students who will pay premium rents to be walking distance to central London universities often paying 6 months to a year upfront and upwards of £1,000 per week!
We’ve taken on +20 new instructions within the last month from penthouses, to multiple units in new build developments and boutique schemes helping with increased demand at this time of year. Since June the increase in quality stock is noticeable. Renters now have better options and there is balance in competitive pricing.