#75 ScanSan Sales & Rental Market Insights: October 2024

If you are new to our ScanSan monthly report we are glad you landed on this page, if instead, you are one of those people who is waiting for our reports well we’ve got some interesting news for you.

As you might know already London’s property market never stands still (don’t tell anybody but soon we will create reports from different areas outside London, let us know which area you are interested in and we will be happy to send the report directly to you!), and neither does the demand for up-to-date insights.?

This October, ScanSan Properties' latest Rental and Sale Market Reports?offer an essential snapshot of the shifting trends in both rental and sales sectors?across London's postcode districts. Whether you’re a prospective renter, buyer, investor, or simply interested in real estate, these reports bring invaluable insights to the forefront—helping you make smarter property decisions in a dynamic market.

Key Highlights from the October Rental Market Report

The rental market in October has been particularly competitive, especially in "landlord’s market" zones such as E14, W2, and SE1, where demand significantly outpaces supply. These areas saw high turnover rates and shortlisting durations, with properties often rented in as little as 45 to 57 days. Even luxury markets like SW7, with rents up to ￡14,000 per month, experienced notable activity, even though properties tended to remain longer on the market, reflecting selective demand.

The rental market’s diversity is highlighted in this month’s report:

• Swift Turnover in Key Areas: Districts like E14 and SE1 showcased rapid leasing activity with turnover rates above 60%, while luxury zones saw steadier but more cautious renter engagement.
• Affordable Rental Options: In E1 and SE1, moderately priced rentals maintained high demand, underscoring these areas as attractive yet accessible options for renters.

For the full breakdown of district-by-district rental insights, including the changes between September and October, our Rental Market Report offers a closer look at where demand is strongest and what it means for renters across London.

Let’s delve into the October Sale Market Report Insights

Meanwhile, the sales market reveals a strong buyer's advantage, with high inventory levels giving prospective buyers more options and negotiating power. In areas like W2 and E14, prolonged days on the market and extensive listings point to shifting buyer sentiment and an opportunity for sellers to reconsider their pricing strategies.

Key observations from the Sale Market Report include:

• A Clear Buyer’s Market: With more properties than buyers in many districts, sellers may find it challenging to secure quick deals without price adjustments. For buyers, however, this represents a golden opportunity to negotiate.
• Strategic Investment Potential: Affordable areas like CR0 and E16 have seen shorter days on the market, making them appealing for first-time buyers and investors seeking entry points with reduced financial hurdles.

The full Sale Market Report?provides a detailed view of price trends, average vs. median price comparisons, and insights into where the best buyer opportunities may lie as we head toward the end of the year.

What Role Could the 2024 Labour Budget Play?

We couldn’t end this blog post without mentioning the Budget 2024.?

With the recent budget changes announced by Labour, there could be notable shifts in future property market dynamics, and ScanSan’s monthly reports will likely capture. Key budget measures, including increased stamp duty on second homes, higher capital gains tax, and the abolition of the non-dom tax regime, may influence both the rental and sale markets:

• Sales Impact: New tax measures are likely to affect transaction volumes in high-value districts as investors may become more cautious. This shift could lead to a more balanced market in traditionally high-demand areas, with some buyers holding off due to increased costs.
• Rental Market Dynamics: Reduced investor activity could limit rental supply growth, driving up competition and potentially increasing rents, particularly in popular districts. Future rental reports may reflect this with higher demand in areas where inventory is tighter.
• Investor Sentiment: The redistribution-focused budget and additional support for public services could prompt investors to shift strategies, possibly reallocating their assets in response to the economic landscape.

Request Custom Reports for Your Preferred Areas

If you’re interested in a deep dive into a specific area—whether it’s your local neighbourhood, a favourite district, or simply a market you’re curious about—let us know!?

Please fill out our quick form to request a tailored report for the area you’d like to learn more about.

Form: https://forms.gle/8RCmzZVrnW6JQdj77

Why Download the Full Reports?

The October 2024 Rental and Sale Market Reports by ScanSan Properties go beyond these highlights to dive deeply into the numbers and trends that can guide your decisions. From turnover rates to district-specific market ratings, each report offers a comprehensive view of London's property landscape. Whether you’re planning your next investment, looking for a rental, or keen to stay informed about market shifts, these reports are your key to understanding the latest property trends.

Download the full reports to access all the details you need to navigate London’s rental and sale markets with confidence: https://www.scansanproperties.com/reports