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Exceptional demand for family homes in Balham

Exceptional demand for family homes in Balham

2021-06-22 
| by Marsh & Parsons (Balham)

The team at Marsh & Parsons Balham are back with an update on the key trends that they’re currently experiencing in the Balham Lettings market.

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Traditionally spring and summer is the busiest time for the family homes lettings market, as parents like to move at the end of the school year so that they can be settled in a new home for the start of term in September.

We are pleased to report that this year, as expected, demand is truly exceptional. In May 2021, our south London offices saw a 241% increase in new registrations in comparison to May 2019. Many of these new applicants in Balham, Clapham and Battersea in particular are families.

 

This beautiful five-bedroom home on Lynette Avenue was let to four professional sharers.

Emma Procter, Area Lettings Director for south London, explains that “Balham, Clapham and Battersea are always incredibly popular with parents. There’s plenty of green space, excellent schools and a ready-made community of families – the area didn’t get it’s ‘Nappy Valley’ moniker for nothing!”

“The market is moving particularly fast this year, because in 2020 families stayed put. The pressures of homeschooling alongside remote working meant that moving to a new place was not possible for many. In turn, spending so much time at home led to the realisation that their current houses were not ideal for the ‘new normal’ in which a good-quality working-from-home setup as well as a garden are priorities. This has created a huge amount of pent-up demand.”

Now restrictions are easing and children are back at school, parents are making their move. Emma adds, “They’re aware of what they need from a new home, and the spring and summer months are a window in which to get it and move in before September. There is a real sense of urgency – these applicants are committed, which has been demonstrated in the types of offer made when the right property becomes available.” In the last week of May alone the Clapham and Balham offices have let five family homes, with an average term of 23 months.

 

We recently let this stunning four-bedroom home on Fernlea Road after receiving offers from multiple parties.

“The market in Balham is thriving, and plenty of our newly registered applicants are families” agrees Rupert Viney, Lettings Manager for Balham & Clapham South.

“The vaccine rollout has encouraged a large number of these applicants to return to London and the new financial year has also just begun. Many people now have a greater sense of job security, especially where corporations and London business have started confirming positive trading results.”

“Combine this with children returning to school and it’s created a fantastic market for letting houses. We recently let a beautiful four-bedroom home on Fernlea Road which attracted offers from multiple parties. Another success story is a five-bedroom house on Lynette Avenue, which we let to four professional sharers working in finance at above the previous rent price- a great result for the landlord.”

If you would like to discuss the lettings market in Balham, and see how Marsh & Parsons are helping customers to move safely in the current climate, please contact Rupert Viney and the team on 020 8673 4377 or visit their website here

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