Month: April 2019

TBS in the Evening Standard – How to buy a house in 2019: the seven golden rules of property hunting in the Brexit property market

Posted on by Thea Carroll

Over the Easter weekend, many house hunters will have upped their search momentum on the property portals. Right now in the complex Brexit shaped property market there are a few golden rules.

Thea Carroll says that it’s important to consider where you might be in say ten years and think carefully about your ‘wish list’. In a slow market it’s crucial to ‘future proof’. It’s hard to plan for 2029 but thinking ahead is vital.

‘The worst house on the best street’ still rings true for investment purposes. Looking for something in an up and coming location which is benefiting from new openings will be a good way to ensure a good return when you come to sell.

More than eight out of ten Londoners would prefer to buy something that they can put their mark on according to Jackson Stops. It’s important to carefully plan out the costs and consider the energy involved. Thea says; ‘Gone are the days that you can buy a run down house or flat and expect the appreciation to outweigh your spend on the renovation and taxes a year or two later. Keep a very close eye on your spending’.

Established parts of London tend to react to confidence levels – however regenerations zones are different. Regeneration areas such as Walthamstow and Old Oak Common are worth keeping an eye on.

To read the full article please click here

TBS in DealMakerz – The Hidden Side of London’s Ultra Exclusive Super Prime Market

Posted on by Philip Eastwood

It’s been a roller-coaster ride for the luxury London super-prime market over the past 35 years as prices have increased by 2,000% or more in some areas. However prime prices are now between 15 and 20% below their most recent peak. What is heartening though is that Savills have noted that, whilst prices are down, activity above £15million actually increased at the end of last year.

“The best in class within this market is still attracting competitive bidding but those on secondary streets or busy roads, not so much,” says Philip Eastwood Partner at The Buying Solution.

But away from the house price turbulence within these markets, a significant mini industry has been quietly developing to serve its high net worth residents and their properties.

This includes specialist sales and lettings companies, buying agencies, concierge services, property management firms and in the case of GoGeoffrey, a subscription-based butler service.

“These kinds of properties are very bespoke so selling, buying or managing them requires a different kind of approach – they’re like a bespoke suit or couture dress,” says Eastwood.

“Presentation is key, so they have to be dressed expensively too – when you’re spending that much money you want it to make an impression and it’s not unusual to spend £100,000 getting a new or resale property staged for sale.

“I came across one property recently on which the vendor had spent £50,000 on the garden alone just for the sale.”

“One of the main reasons why HNWIs use buying agents – on top of the time and effort we save them – is that often they don’t want their buying or selling activities out there in the public domain,” says Eastwood.

This is partly down to the small size of the market. If you’re selling a home worth £1 million to £5 million then yours is one of over 10,000 for sale at the moment in London. But if a home is for sale at £15 million or more, it’s hard to hide it among the 130 currently publicly on the market.

To read the article in full click here; https://dealmakerz.co.uk/the-hidden-side-of-londons-ultra-exclusive-super-prime-market/