News

New Web Site Launch

We recently launched this, the 3rd version of our website and as you are now reading we are including news 'blogs' and our twitter and facebook on our home page to ensure we have an ever greater internet presence.

This is the first part of a two stage strategy. We have added new search functionality to our site and integrated it with our property management system to gain a more seamless presentation of the lettings in the Chelsea, Knightsbridge and Fulham Area.

In the last year we have expanded our Block Management practice with further block management in Mayfair, Clapham and Notting Hill. This change to the way the blocks have been run to a more transparent operation has been receiving great reviews from leaseholders.

Our lettings service continues to go from strength to strength with our management renewal rates for the end of our half year at 98%.

It always surprises me at the areas that we now manage properties in, current clients have transferred properties in from not only the local regions – Balham, Notting Hill, Chelsea, Fulham, but also from further afield - regions such as Glasgow, Edinburgh, Durham to name but a few. I think that standard of the service supplied in managing and attracting clients to transfer the rest of their property portfolio to us is a great testament to the quality of the service that is supplied.

Looking to the future, the market for lettings in Chelsea and Knightsbridge shows significant shortfalls in the number of new lettings properties coming on to the market. Also this shows no sign of changing over the next year with loans still at a premium whilst increased demand from overseas clients looking to let has been encouraging prices forward. Going in to the summer current results show that this trend shows no sign of abating.

Currently Rental yields are running between 3.5% and 4.5% which is significantly better than current deposit rates. Whilst interest rates remain low property in Knighstbridge, Chelsea, Belgravia and Fulham is giving a safe yield with the potential of a longer term capital gain as premium properties continue to perform well, both in Knightsbridge and Chelsea. Correct pricing will remain vital to achieve a swift Let.

We shouldn’t forget that, on the whole, Letting residential property is an long term investment and one that is not undertaken lightly. Property in these Golden postcodes is still a sound long-term investment provided one remembers that you need to play the long game.

Andy Smith Director 1st Asset

to find out more on Andy's biog please click here