MARKET REPORT 2017

Brexit is underway!

 

Whether you sit on one side of the fence or the other, either way the process for the UK to leave is building momentum and one thing is for sure, the effect the decision has had on the market in Central London, has not been anywhere near as bad as we were led to believe.

In the centre of London, it is clear to see that business is starting to pick up everywhere you look and property is no exception. Foreign buyers are back with very favourable exchange rates on their side, the domestic buyers never really left, but are now starting to engage in the buying process with more bite than we have seen for the last 12 months.

Prices in real terms have not moved upwards since March 2014 and have only moved downwards if one was forced to sell or motivated to get out. Otherwise, the market has been flat and has presented at the same time, some very good buying opportunities that many clients at LF have taken full advantage of.

But now, with the gap having closed between the centre and many out of town local cities, such as Brighton, Reading & Oxford, we are starting to see buyers see the value of coming back into London and picking up some interesting deals.

If, like many existing clients, you are one of those thinking about what value can be added if you were to buy this year, please don't hesitate to get in touch and we will be only too happy to talk you through some of the interesting opportunities we have been involved in throughout the last 6 months as well as the proceeding 15 years. We look forward to meeting you.

MARKET REPORT 2016

Time flies and Spring is upon us.

The market has undoubtedly quietened, since the announcement of yet more changes to Stamp Duty and the scrapping of mortgage interest relief against your investment, but that said, there's still a sense of determination from buyers to not be outdone or dissuaded from investing their money.

For some time, we have seen the market increasing in the secondary zones around London and in some places, a real fight for what little there is available here. But we have reached a point now that for the first time in many years, there's a real opportunity to strike some good deals with sellers more motivated than ever, combined with welcomed news of interest rates staying where they are.

Having worked in the Central London market for over 25 years now, we are all too aware that the chances for a buyer to dictate terms can be counted on one hand, so sleeves are being rolled up and deals are being done.

If you are considering buying in 2016, why not get in touch? This could turn out to be the best opportunities you have for quite some time and more than likely, one of the smartest phone calls you make all year!

We look forward to hearing from you.

 

MARKET REPORT 2015

So, here we go again.

Christmas is a thing of the past and the City has awoken to a New Year.

I think it's fair to say, after the crazy uplift in prices that peaked in Spring 2014, it feels we are now in a period of 'taking a breath' as we all reassess the prices and state of the economy, before deciding whether to dive head first back in with the inevitable result of prices continuing upwards.

so, with that in mind, the Market feels like it is in a state of impasse.. will it go up after the General Election, or will it remain stable and calm for the remainder of the year, whilst we all witness peripheral Towns & Cities such at Brighton & Reading, catching up.

One thing is for sure, the stock levels are higher than we can remember and for that reason alone, there are good deals to be had, as it appears sellers have become motivated and reasonable, something we have not seen for a number of years.

For the right property, activity levels are still high. But it feels sensible out there, so if you are thinking of buying this year, we strongly advise you to focus your energy on the first 6 months of 2015, which could well bear fruit and put you ahead of the race come the Summer.

 

MARKET REPORT 2014

It's never dull in this business, that's for sure.

The year started as it had finished in 2013, energetic, vibrant and as positive for the road ahead as I can remember. International buyers continued to compete with our domestic equivalent, all vying for that top 5% of prime Central London property that seems to be ever so popular year in, year out. This lasted until late Spring, when talk of interest rates rising and the long awaited General Election of 2015, started to put the brakes on and finally slow this train down.

Now here we are, all basking in one of the best summer's on record, it's hardly surprising people have other things on their minds; so the market has reverted back almost to the old days, where the season's seemed to determine how much business was done.

Agents are quiet, solicitors and surveyors are on holiday, builders are everywhere; that's how London feels right now. What remains to be seen, is how we all come back and approach the business in September. There's no doubt in our minds here at LondonFinder, that if you are prepared to roll up your sleeves and grit your teeth, there are good deals to be found out there that will undoubtedly stand our clients in good stead in the future. They just aren't that numerous or obvious and that's precisely why advice in these matters is crucial.

This is clearly a time not to be paying too much going into the Autumn season. Buyers perhaps, are at last seeing the pendulum swinging in their favour!

David Redshaw

MD