Pricing for 2019
It seems as if the new letting season is about to start. Rest assured, we haven’t finished the current one, but we are thinking ahead already and planning our next steps.
From lessons identified in 2018, we have found that a number of properties completely “missed the market”. This was largely based on price, with often high or unrealistic price expectations on property. We have seen some rollercoaster years, with rents rising from £75 per week right up to £100 per week. But they are now stabilizing, and finding their natural level. The market isn’t entirely through the effects of oversupply; many landlords are joining the ranks of Liverpool property owners based on what they are reading in the papers (The Times recently put Liverpool L6 and L7 at the top of their league table for investment yields), and certain postcodes appear incredibly attractive to investors. However the reality is, the market has in Kensington has become distorted and the after effects will be seen for some time. This market distortion is yet to affect lettings in L15 or elsewhere.
With this in mind, we are setting prices based on these stabilised rent levels on the basis of what we have achieved in a sensible number of viewings. As a guideline, these prices are:
£90-£95 in L6 and L7 on a fully inclusive basis, £85 in L15 on a fully inclusive basis.
£85 in L6. Up to £95 in L7. Up to £90 in L15. For exceptional properties they may exceed this but we would express caution.
£75 – £85 in L6. Up to £95 in L7. Up to £85 in L15.
£85 in L6. Up to £95 in L7. Up to £95 in L15.
£85 in L6 but with a view to taking less if needed depending on current demand. £100 in L7. £95 in L15.
Properties above this size: Depending on location.
From our lessons learned in the last year, we are very aware that some of the higher prices prevented properties from letting. Therefore from 2018 we are asking landlords to work with us on pricing and to give us latitude to work within acceptable boundaries of upper and lower amounts you are happy with. We will adjust the prices within these boundaries, and advise you if we think we need to adjust further if your property doesn’t let in a reasonable time frame.