London agency Dexters says the number of lettings applicants rose 50 per cent in 2020 with a particular surge in November and December - an early sign, it hopes, of a market turnaround for the capital in 2021.
In a statement on its performance last year and prospects for the next 12 months, Dexters says that at the start of the Covid-19 pandemic there were concerns from some property commentators that there would be a mass exodus of buyers and tenants moving out of London.
“However by the end of 2020 it is clear that there are many more buyers and tenants looking for property in London than are looking to leave, so this has not occurred and now that a vaccine has been found confidence in central London living and working has rapidly returned” it says.
The agency currently says its corporate lettings and international relocation team are busy talking to numerous people from all over the world who are already lining up their moves for early 2021.
It recently carried out a survey of a sample of its 30,000 London landlords, finding that 99 per cent of them are committed to their investment in the long term and 78 per cent were looking to grow their portfolios.
“During 2020 there was a lot of choice for domestic tenants, because of the lower number of tourists and business travellers, which enabled many tenants to take longer lets and move closer to central London” says the firm.
“This trend is likely to reverse in 2021 as Covid-19 issues recede and short term lettings return, this is most likely to put upward pressure on rents.”
Visits to Dexters’ website increased by 20 per cent in 2020 as the company; Christmas Day website visits saw a 70 per cent rise and then Boxing Day and December 27th, 128 and 131 per cent rises compared to 2019.
Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.