Carter Jonas has reported a record quarter across its lettings business in the period to August 2017.
In London turnover was up 27 per cent while in the regions turnover was up 20 per cent compared to the same quarter in 2016. The number of lettings was up 10 per cent in London and 15 per cent in the regions for the same period.
The company says it is buoyed by the figures because they follow a protracted period of uncertainty thanks to consecutive changes in legislation and policy in recent years.
“The past year has been marked by fundamental change for the lettings market, both in London and across the regions. The first quarter of 2016 saw an upsurge in investors and landlords rushing through the purchase of buy to let property ahead of the government’s second reform to stamp duty which flooded the spring market with a surplus of stock” says Lisa Simon, partner and head of lettings for the firm.
“Following the vote in favour of Brexit the lettings market began to strengthen, as more tenants delayed their decision to buy property and instead decided to rent for longer and watch the market. This mindset has been witnessed across all demographics of tenant, from young professionals to families to chief executives who are in the UK from overseas for a few years” she says.
The latest figures constitute an all-time record for Carter Jonas.