In today’s cover story in The Times Bricks & Mortar, The Buying Solution is quoted explaining why ‘cash is king’ in our current market.
Senior Buying Consultant Thea Carroll comments: “In an illiquid market cash buyers hold a trump card and can afford to hold their nerve. It signals speed and purpose of transaction, two things the market lacks. “Cash is king” is a phrase that is suddenly being heard a lot more in the property market.”
People with spare savings or the banked proceeds of a sale are using their spending power to bag bargains — not only in London, but also in areas favoured by second-home owners.
Experts say that for cash buyers not reliant on borrowing, this presents an opportunity, because sellers who are desperate to offload their properties before Christmas are prepared to drop their prices.
Meanwhile though, Jonathan Bramwell does warn that these cash buyers must not assume they will succeed. He adds: “When an exceptional property comes up, potential buyers are like bees to a honey pot. In this climate most will sit tight until the first person makes an offer, and then they should expect to be in competition. Vendors of these properties, particularly around Soho Farmhouse [the members’ club in Oxfordshire], will often have the luxury of choosing their buyers — those who offer a higher price, even if it’s with a mortgage, will win.”
To read the full story visit: https://www.thetimes.co.uk/article/why-cash-buyers-are-back-in-thehousingmarket-vr6w5b8h0
With just under £1million to spend would you choose Parsons Green or Castle Combe? Jonathan Bramwell speaks to the Metro about the charming village of Castle Combe in Wiltshire.
“Castle Combe is certainly one of England’s prettiest villages and has huge appeal for a number of reasons. It’s popular with weekenders from London wanting a country getaway, families looking to be within easy distance to excellent schools, and retirees who will benefit from a thriving and established community. Its picturesque qualities do command high prices. Buyers are looking at spending £1-£2m for a four-five bedroom home with sizeable garden and for a lovely listed chocolate box cottage in the centre of the village you are looking at prices over £450,000.
Castle Combe is ideally placed and offers buyers an easy commute to London Paddington (journey time is around 70 minutes) from Chippenham station (under 10 minute drive away) as well as the M4 and access to Bath and Bristol. The area also appeals to those who work for Dyson as Malmesbury is close by. It’s also a huge draw for car enthusiasts as there is Castle Combe Circuit race track just outside the village.”
To read the full article click here; https://www.metro.news/with-900000-to-spend-would-you-choose-parsons-green-or-castle-combe/1317074/
In 2003 when the Spectator wrote a piece about Edgware Rd it sent its foreign editor – it has been known in the past as ‘Little Beirut’ or ‘Little Cairo’. When compared with its Marylebone and Mayfair neighbours the Edgware Rd stretch has lagged behind. Thea Carroll says; “Reputationally it’s about as bad as it can get for a Prime Central London Road.” However it’s an area ripe for development. Marble Arch Place, a development by Almacantar, will help made the area ‘a destination’ says Thea. Some think that it could even become the new Pavilion Road or Elizabeth Street over time. For those looking to invest now, Thea says that it has a ‘lower price per sq ft’ than its neighbours – Marylebone for example is three times higher.
To read the full article click here; https://www.google.co.uk/amp/s/amp.ft.com/content/84546876-e357-11e8-a6e5-792428919cee
The UK’s national parks have long been a lovely place to visit but now property purchasers are making the move for affordability and scenery. Michael Gove, the Environment Secretary, announced last month that he wanted to ‘conserve and enhance’ England’s ten national parks and 34 areas of Outstanding Natural Beauty. Figures from Strutt & Parker show that property in the Norfolk Broads have had the biggest price rises than those in any other national park over the past five years.
The South Downs, where property prices have risen 21.7% over five years, is the third most expensive national park to live in. Bobby Hall, Partner at The Buying Solution, says that Meon Valley specifically Petersfield are at the top of purchasers’ wish lists. ‘It’s attractive, unspoilt, protected country with short commute times’. He adds that most buyers are ‘weekly or part weekly’ commuters.
Too read the full article click here; https://www.thetimes.co.uk/article/where-to-buy-a-house-in-a-national-park-mnhdxm7kw