PROJECTIONS for the property market throughout 2014 are optimistic, according to Savills. The firm’s offices throughout the Home Counties have reported a positive start to the year in both the sales and lettings disciplines.
Head of Savills Home Counties Sales, Guy Robinson, said: “The predictions for our markets, which have often relied on purchasers coming out of central London, are beginning to see an upsurge in requests from applicants looking for better value for money than the capital can offer. These individuals are attracted to key town centre locations where amenities, travel facilities and schools are all good.”
Tanya Blake, head of Savills Home Counties lettings, added: “The prognosis for the lettings market is also positive. Whilst increased demand in the sales market may lead to a reduction in the number of accidental landlords, we anticipate that there will be a surge in the number of investor landlords which will, in turn, have a positive long-term impact for our markets.
“The latest information from our industry-leading research department indicates that demand within the private rented sector is expected to grow by one million households over the course of the next five years, leading to a 21 per cent increase in rental values across the UK over the same period.
“For both landlords and tenants this is good news. Landlords should benefit from the increasing demand and tenants will no doubt benefit from an increasing choice.”