23rd January, 2011
Davis & Gibbs are back from the holiday period and we are very excited about 2011 as we are celebrating our 5 year anniversary, we have been trading since 2006 and have seen a lot of change in what can only be described as a turbulent market. We are confident that both the sales and lettings markets will continue to grow and develop throughout 2011 improving on our success of 2010.
We have been in undated with new lettings applicants and the demand is very much out weighing the supply at present and we are calling all Landlords to use our services, now is the time to use a professional agent who can secure you better rents and fully referenced tenants in half the time. If you are looking to rent out any style or type of property 1,2,3 or 4 bed property's we will have tenants in place from the word go! We cover areas from Kennington, Oval, Stockwell, Clapham, Brixton, Balham, Streatham, Camberwell, Tooting Ealing, and Chiswick & Acton.
Our sales division was busy in the run up to Christmas with viewings still taking place up to Christmas eve, and we predict the market will only get better in 2011 supply was outweighing demand at the back end of last year however we believe 2011 will balance out with more buyers returning to the market. Overall we feel the future looks bright for 2011 and hope to do business with you
14th December, 2010
Sales Report - Recent reports form the Halifax indicate further decline in house prices November saw 0.1% drop which is indicative of the recent trend property supply outweighing demand, Davis & Gibbs can confirm this trend as we were achieving better prices on in the first half of the year on similar property's that we are putting under offer now. This trend is making some homeowners reluctant to sell at present which may help the short supply in the lettings sector which is seeing the opposite trends to sales. Because of the decline in prices Davis & Gibbs are predicting a slight increase in first time buyer levels at the start of 2011 which should start the year off with a bang.
Lettings Report - Increased demand and a fall in the supply of new properties have led to a rise in rents in the past three months, Davis and Gibbs are currently achieving rents around 10% higher than this time last year in some areas. This statistic is further illustrated by the Royal Institution of Chartered Surveyors (RICS). Across the UK, London saw the biggest increase in rental prices, and at the same time, new landlord instructions went down for the fifth consecutive quarter, meaning that fewer existing landlords intend to sell their properties. The outlook for rents remains stable and many people feel that rents will increase rather than fall, as the lettings market has become increasingly strong over the past nine months, in contrast to the housing market which continues to slow. More landlords are now also looking to add to their portfolios, especially as there has been a rise in the number of providers willing to offer investment mortgages in recent months. This will result in agents like Davis and Gibbs benefitting from increased supply of new properties coming onto the market.
18th November, 2010
Lettings – the lettings market is still going strong with demand outweighing supply there is a distinct lack of property on the market at the moment which is resulting in potential tenants competing for the limited stock. This healthy competition is driving the prices up, from an agent's perspective the best way to resolve this situation is by a sealed bids process "best and final offers" thus tenants and Landlord can move forward with out any risk of gazumping even though one party will miss out! The main reason why there is still such growing demand is due to the lack of mortgage products with first time buyers being priced out of the sales market. Recent report form the evening standard show that most landlords are experiencing occupancy levels of 98% with figures in the past being 60%.
Sales - Property values recovered from a massive 3.7% plunge in September to record the biggest jump for 18 months in October, according to figures today. The Halifax said the average cost of a home rose by 1.8% last month - to recover half of September's drastic fall - but warned that the underlying trend for house prices was still downwards. The figures further muddy an already blurred picture of the state of the UK housing market. Nationwide last week reported its house price index fell by 0.7% in October, due to a lack of buyers, knocking £2,400 off the average price of a home. Also today, property website zoopla.co.uk reported that families struggling to sell their homes have slashed a massive £500m off asking prices since the beginning of August.
20th October, 2010
Lettings Booming, Sales Stalemate
The sales market has been in the headlines again over recent months with the Halifax recording a drop of 3.6% in September however we are still up by 2.6% from last year with the land registry showing an increase of 11.4% from August 2009 - 2010 (London) so it is still too early to predicted a sustained decrease of property prices. Davis & Gibbs believe this dip is due to low transaction levels during the holiday period and we have personally seen a lot more activity within the sales market over recent weeks resulting in an increase of offers and agreed sales, we predict that this activity will continue over the next couple of months in the build up to Christmas.
The lettings demand has continued throughout the summer months into September & October resulting in a shortage of rental properties across the market, this has resulted in rents increasing swinging the market in the Landlords favour. The strength of the lettings market throughout 2010 has attracted lenders old and new; Paragon have announced their return to the 'Buy to Let' market with 5.3% fixed and trackers starting at 4.3% so the over all opinion is that lettings is here to stay and will continue to grow and develop throughout 2011.
Due to the changing markets both Sales and Lettings; Davis & Gibbs advise all potential Landlords/Vendors to call us for an up to date market report and free valuation as the DIY option simply will not work in this ultra competitive market.
20th September, 2010
Davis and Gibbs see increase in residential lettings
Davis and Gibbs have continued to see a lot of success in residential lettings over the past weeks with both supply and demand exceeding expectations, we believe this is mainly down to the economic restraints still affecting the housing market. July saw a dip in the sales market and since then house prices have fallen on average by £4091 due to supply out stripping demand. The best advice we can give sellers at this point is to wait for the holiday season to pass and try to sell in the build up to Christmas break (September, October, November) those sellers still trying to secure a buyer form the start of the year may need to revise their market price due to the new competition.
The effects of the election may well be dampening the spirit of the sales market, however, when it comes to lettings, a storm is sweeping throughout London powered by young, single professionals anxious for places to rent. Apartments and in particular the larger properties, are being snatched off the market within a matter of hours. As a result, it is imperative that rental applicants act quickly...to avoid certain disappointment.Four and five bed houses are in short supply at present, although, the Davis and Gibbs Balham Acton & Oval have a good number of these properties listed.
Our property management department have seen an increase in their renewals, with many tenants staying on in accordance with the annual rent increases, they have recently posted their best rental arrears ratio under 4% well within the national average and we are recommending many of our clients to use our rent collection service to avoid back dated rent payments.
3rd August, 2010
Record levels of sales compilations predicted for August
Davis and Gibbs sales department are pleased to announce record levels of sales compilations predicted for August following on from a great under offer in May & June. The sales team are seeing great success with vendors achieving similar prices to that of 2007, house prices have risen since the start of 2010, roughly 15 - 22% in the South of London, however on a national level we saw a slight dip in July with the average price falling from 8.7% - 6.6% (Nationwide Report) leaving the a lot of experts scratching their heads as London is one of the few markets bucking the trends of the recession. Some doom mongers are predicting a dip at the end of the year however demand in the London market appears to be constant with buyer registration levels increasing, the team at Davis & Gibbs thinks this will sustain the market into 2011.
Davis and Gibbs lettings are growing from strength to strength, and we are seeing record levels of tenants due to London being the main hotspot for EU workers and students a like, the team are constantly looking to source new Landlords to appease the demand especially for the 2 and 3 bed sector. Davis and Gibbs are currently urging private landlords to use our services as more scams are being revealed on "Gumtree" the latest being fraudsters posing as Landlords who are members of the NLA (National Landlords Association) with unsuspecting tenants handing over money to false landlords, scaring them off the private sector, resulting in more tenants using registered agency's."
Daniel Killick, Lettings Manager for Davis & Gibbs comments:
"It is imperative that tenants use professional agency's who are ARLA registered who can advise and protect tenants throughout their property search / tenancy agreement, Landlords also are advised to seek professional help with new legislation's come out and more stringent rules with tenancy deposit schemes. The DIY method just simply will not work in this day and age"
The company has recently had a successful recruitment campaign with new additions in all three of our office's Acton, Oval and Balham and we are still recruiting, due to the overall success of both sales and lettings, Davis & Gibbs are predicting a bright future.
28th July, 2010
Record levels of 2, 3 & 4 bedroom property's for rentals
Davis & Gibbs are pleased to announce record levels of 2, 3 & 4 bedroom property's for rentals, with properties in Oval, Camberwell, Streatham Hill, Streatham Common, Stockwell, Peckham, Balham, Clapham, Acton, Shepherds Bush areas.
Demand has increased a lot over the past couple of months and we are predicting even more of an increase over the upcoming months with the addition of groups of students and post graduates looking for accommodation.
Applicant registration is at an all new high for the year in both sales and lettings after the launch of our new website and we are constantly looking to source new properties in South West & West London to satisfy the demand.
Our property management department has been strengthened after our recent recruitment campaign and we are constantly recruiting for sales and lettings negotiators to join our expanding teams, we currently have vacancies in both sales and lettings.
20th May, 2010
Home Information Pack Suspension
The Conservative-Liberal Democrat Coalition Government this morning announced that Home Information Packs (HIPs) are to be suspended with immediate effect pending primary legislation to abolish them. Read the full News Release here.
Homes marketed for sale on or after 21 May 2010 will no longer require a Home Information Pack (HIP).
Energy Performance Certificates (EPCs) have been retained. Sellers will need to have ordered an EPC but do not have to have had it returned before marketing their property.
The HIPZ Team are on hand to answer questions from concerned vendors and agents. Please note that unfortunately any HIPs which have already been activated are non-refundable.
For more information please consult the Communities and Local Government website.
1st February, 2010
Davis & Gibbs are proud to announce the launch of their new office in Acton W3
The office will primarily deal with the lettings and sales of property in around Acton, Chiswick, Shepherds Bush, Ealing, Hammersmith & Fulham
This now takes the number of offices to three, with established offices in Balham 2006, and Oval in 2008.
This is indicative of Davis & Gibbs drive towards establishing as the dominant estate agent in the areas they cover.
Stephen Davis, Managing of Davis & Gibbs comments.
“We are delighted and extremely proud to have opened this office. Since it's launch business has been extremely brisk particularly in the letting department, our aim is to be the leading agent within the areas we cover. At all our offices we provide a personal and dynamic service, employing the highest quality of staff. We cater across all sectors from first time buyers, prospective tenants, landlords and developers.
For further information contact,
- Stephen Davis, Managing Director
- Davis and Gibbs
- 94 high Street
- Acton, London
- W3 6QX
- Tel: 0208 752 3040
9th February 2017: Davis & Gibbs take on the Vertical Rush Challenge for charity
15th September 2016: Davis & Gibbs celebrate a strong 2016