Letting in Weybridge? Do It Quickly, or Pay the Price.

Written by Posted On Friday, 05 April 2019 15:35

While the average sale price of property is down 3.8% Year Over Year (YOY) in Weybridge from 2017 to 2018, the letting market has flourished close to the same percent. Buyers are choosing to become tenants rather than risk owning. This has shifted the focus of sellers to turn to the letting market and take on a renter in place of selling their home.

At an average of £231 per week for a rental of a one-bedroom suite, the affordability of letting in Weybridge is definitely appealing. It also goes without saying that to a new home owner, the risk that the market may fall for a second year in a row is too great to accept and letting is just makes sense.

Another reason for the sale price decreasing, is that more home buyers are looking at more affordable properties rather than splurging on higher priced units. In December of 2017, two homes sold that were over the two-million-pound mark whereas, in December of 2018 there were none. While supply is available, people are choosing fiscal responsibility over grandiose purchases. Now, while this is the case, there is also a big drop in property sales in that same month YOY. December 2017 had thirty-one home or flat sales while the same month in 2018 only showed twenty-five.

What will this mean for 2019?

As the trend continues, more buyers are deciding to temporarily let instead of own and this will have an impact on the rental market to a small degree. If you are choosing to let in 2019, good advice would be do it sooner rather than later as there is no change to the forseeable market in sight. This means places that are being let out will increase in price over 2019 as time goes on and the supply of flats and homes being let out will dwindle driving up demand and therefore, the rates per week.

Rate this item
(0 votes)
Chris Galkowski

Chris Galkowski is a property marketing expert with over 10 years advertising and marketing experience. His property marketing work has taken him around the globe such as Hong Kong, Abu Dhabi, Singapore, Sydney and London. Chris Galkowski is the managing director of Estata Marketing, a real estate focused marketing company based in London UK. 

https://www.estatamarketing.com/

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.

Joomla! Debug Console

Session

Profile Information

Memory Usage

Database Queries