Comment: August 20216 August 2021
There are indications that the London rental market is feeling a new sense of optimism thanks to the success of the vaccination programme, the relaxation of restrictions and the opening up of the economy.
Despite Brexit and the ongoing issues, prime property in London continues to be a popular choice for overseas investors happy to take advantage of the weak pound. Not only that but many overseas professionals are keen to return to London and there has already been a rise in rental demand from Japanese corporate tenants. Sales to Hong Kongers has also risen by 44% since the introduction of the new immigration route earlier this year according to London agency Benham and Reeves.
Interestingly it’s the one-bedroom market which has yet to bounce back but I am confident that it will do so in time. I think many ‘one bedders’ took the chance to move out of central London as working at home became the norm and returning will be a gradual process in line with the gearing up of working back in the office.
There’s also no hiding the fact that there is a greater choice of properties on the market so anyone looking to rent has the pick of the crop. Our message to our landlords is that your property needs to be in absolutely tip top condition if it’s going to stand out from the crowd.
Home Minders expanding the business
We are delighted to announce the successful acquisition of Alan Goldin Estates a well-established lettings and sales business based in Temple Fortune.
This is our third acquisition, following Simon Clarke in 2014 and Stark Joseph in 2016, and almost doubles the properties on our books to over 400 strengthening our niche position in London north of the Thames.
Initially we are running the two businesses in parallel, but they will be sharing strategic goals, staff, facilities and services, as Managing Director Paul Ruocco explains:
"We are excited by the opportunities this expansion gives us. Alan Goldin has an enviable reputation and as they are predominantly a lettings agency it is a good fit with Home Minders, where our focus is on property management and maintenance.
"From my first meeting with Alan, it became apparent that we shared the same work ethic of delivering a personal first-class service to customers. Alan was also attracted to Home Minders as he felt we could help ‘let only’ landlords manage their properties under the new and more rigorous compliance rules and over time we will integrate the Alan Goldin brand into the Home Minders group.
"We are enhancing our online presence and using the power of social media to ensure properties gain maximum exposure. Alan Goldin Estates will continue to trade from its prime office location in Temple Fortune and proprietor Alan Goldin, who set the business up in 1992, is helping to ensure a smooth transition."