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ne of London’s main property company chains Dexters right this moment stated it “continues to be assured” in regards to the London property market regardless of the mortgage market disaster.
The corporate, which has 150 places of work within the capital and in addition owns the Marsh & Parson model, was reporting a 3% rise in income to £147.1 million and income barely down at £37 million in 2022.
Chief govt Andy Shepherd stated: “Dexters continues to be assured in regards to the power and future efficiency of the London property market.
“The London lettings sector is robust and experiencing excessive ranges of tenant demand following the reopening of the economic system after the Covid-19 pandemic, which is mirrored in our newest figures, while the gross sales market has remained resilient, following a robust 2021 with the Authorities’s non permanent stamp responsibility aid.”
Greater than half the income was generated by lettings and property administration, with £56.5 million by gross sales and new properties actions and £11.1 million from different advisory providers.
The outcomes got here as newest mortgage market information confirmed common charges persevering with to rise, although at a slower tempo. In response to analysts Moneyfacts the typical two-year mounted residential mortgage charge stood right this moment at 6.26%. up from 6.23% yesterday. The common five-year mounted residential mortgage charge right this moment was 5.87%, up from 5.86%.
In the meantime, build-to-rent landlord Grainger stated its occupancy charge had hit a brand new excessive, simply wanting 99%, in an extra signal of the scarcity of provide within the rental sector.
The owner reported that its properties had been now 98.7% occupied, up from what had been already file ranges earlier within the yr. It additionally reported an extra 7.1% rental progress for the yr up to now.
