As London’s most admirable and affluent area, the fascinating features of Chelsea leave an unforgettable element of luxury on the minds of buyers and renters alike.
Home to plenty of grandeur shopping experiences, attractions such as the Chelsea Flower Show, Sloane Square and some of the most delectable dishes to try, it is not unexpected that the area is coming back to life after the dreary pandemic took the reigns. London is still one of the greatest cities to visit and live in across the globe.
Despite holding the title as London’s smallest borough, Chelsea’s array of prosperous developments that are like no other in the UK seem to have an undeniable impact far more powerful than the likes of Omicron.
The streets of Chelsea exude exclusivity, so it’s no surprise that many wealthy investors look to purchase or rent a home here. In return, the property market continued to rise again throughout 2021 as house prices saw a 10.2% annual increase.
Prime London real estate saw a decline during the early pandemic but Winkworth Estate Agents predicts 2022 will see 2021 success continue into 2022. The reappearance of overseas buyers looking for a London property means high-priced homes will once again see growth.
The property market has seen a transformation since everyone’s living preferences have changed. The pandemic forced many people in the UK to reconsider their living circumstances such as remote working and the need for garden space after many months of lockdown.
With the omicron variant resurfacing the worries of Covid-19, it’s difficult to tell what is yet to come in 2022 – promising statistics show that the demand for central London properties was up by 44% on pre-pandemic levels in the last quarter.
The good news is that prices have consistently risen over the last six months, which hasn’t occurred since before the Brexit referendum. Demand for rental flats in cities has also increased, due to people returning to the office and others starting new jobs within new locations.
A new analysis by Benham and Reeves found that rents in London will increase by 5.5% in 2022, which will reach pre-pandemic levels. The decline of the rental market seems like a long-distance behind us in the new year.
As facts and figures come to light throughout 2022, the expectation is that Chelsea will continue to build momentum as one of the optimal places to live in London. We can’t wait to see how the property market grows through the trials and tribulations and hopefully witness many more optimistic statistics shine the torch for positive change.
Offering quiet but comfortable sophistication, Chelsea attracts people looking for the very best from life, which calls for the most interesting and exclusive properties to match their tenants. The neighbourhood balances a relaxed atmosphere with a buzzy and fashionable place to wander.
The Sloane Stanley Estate has become a large part of Chelsea history after 300 years and remains a family business today owning and managing over 250 shops and flats.
If you are looking for a property to rent in Chelsea, get in touch with us today.