Monday, 8 December 2014

An Estate Agent’s Christmas Carol


Nick Churton from our Mayfair Group global network takes a humorous look at a traditional tale as Christmas approaches - with apologies to Charles Dickens! 

Scrooge had been trying to sell his house all year - but to no effect. He was fed up with cold winters and longed to move to Spain where he had found a flat at a knockdown price being sold by a desperate developer. Now it was Christmas again and there was still no sign of a buyer for his own house. Scrooge hated Christmas.

Bob, at the local estate agent, Cratchit and Co, had almost given up on ever selling the house. Scrooge was far too mean to put the lights on inside or light the fire to make the house look cosy and inviting. Instead it was unwelcoming and cold.  A better word would be frigid. 

He refused to let people see the house when they wanted to and only allowed viewings when it was convenient for him. The few offers he had received he had treated with derision - even though the asking price was really far too high - which put everyone off taking it any further. Scrooge was even insisting that any buyer would have to purchase, at extra cost, the threadbare carpets and even some wet logs at the end of the garden which he described as firewood.

That night Scrooge had three disturbing dreams. The first vividly showed him what life had been like before he had become so mean and his wife had left him. The second dream showed Christmas dinner at his estate agent's house. It was a jovial family affair with Bob, his wife and their small son, Tim, all enjoying themselves. But slowly the scene changed to show what life would be like if Bob couldn't sell any houses and had no money. The third dream showed Scrooge's grave. He had died an embittered old man who had never sold his mausoleum of a house or moved to sunny Spain.

Waking up in his bed Scrooge realised that wasn't too late. He raced round the house putting lights on and setting the fire ablaze in the living room. He then rushed down to see Bob at Cratchit & Co, and told him to reduce the price immediately and to tell everyone that he would heartily entertain any reasonable offers. Scrooge even told Bob that he would increase the commission if the house was sold quickly.

So Scrooge did sell his house and moved to Spain where he enjoyed many long years in the sun. He even met an attractive widow in the local tapas bar that he went to often. Scrooge never forgot to send Bob a Christmas card, as without all Bob's hard work he would never have had his new life.

The moral of this story is to be as accommodating with potential buyers as possible and always try and find a estate agent like Bob. Christies Estate Agents in Cheam is just such a firm as Cratchit & Co. Call us - we might change your life.

Happy Christmas everyone.
Please contact us on 020 8643 7777 or email at sales@christiesworld.com

Friday, 5 December 2014

A Slab of Christmas Cake

Nick Churton from our Mayfair Group global network takes a look at the agreeable change in stamp duty brought about in the Autumn Statement.

Few people like taxation. Most understand that we have to have taxes. But when they are as unfair as our stamp duty was then taxation seems to be doubly disagreeable. 

In his Autumn Statement the Chancellor, George Osbourne, at a stroke righted many wrongs concerning stamp duty - and perhaps put a serious dent in the opposition's mansion tax plans at the same time.

This is too late for millions of buyers under the old system, but a wonderful Christmas present for thousands who are in the process of buying a property at the moment.  And it is a massive windfall for buyers next year and beyond.  A huge 98 per cent of home buyers will benefit from the Chancellor doing away with the slab system, where buyers would be charged the allotted percentage on the whole purchase price even if it was only £1 over the various thresholds. Now buyers will only be charged tax on a slice of the purchase price.

So great news for the many.  But not such good news for the few.  Those buying at higher levels - over £925,000 - will pay more for the privilege.

The old stamp duty was a bad tax - or rather it increasingly became a bad tax.  As property prices rose more and more people were dragged into the net.  Buying a home is expensive enough without the government of the day cashing in on what was seen to be a purely opportunistic raid on people's pockets. Good riddance to it.

What will the knock-on effect be - apart from home buyers having more money to help with a deposit or all those extra expenses connected to property purchase?  The new stamp duty rates will not raise the same concerns pundits and commentators had over Labour's proposed mansion tax which would have hit owners of expensive homes every year.  That really was threatening the value of their houses.  The new stamp duty does not seem so reckless in this respect. Nor will there have to be a mass re-evaluation of property for tax purposes.

At the lower end of the market it could add fresh impetus to what is generally seen as a cooling market. But any forecast in this respect should also take into account the negative effect any future interest rate increases may have on the market.

So good news for the market below £1,000,000 and even those in the upper sector should feel pleased that the threat of a mansion tax is perhaps a step further away now than it was on Wednesday.
Please contact us on 020 8643 7777 or email at sales@christiesworld.com

The Market Rocks

Nick Churton from our Mayfair Group global network takes a look at the property year and considers what may have a positive or negative effect next year.


As 2014 draws to a close and we look forward to the New Year there is much to think about in the property market. In most regions it has been a generally good year overall with a fine start but a quieter finish.  Price gains have slowed considerably and the heat has certainly come out of the market. There is not the frenzied buying now that there was this time last year. Even central London has cooled off.

Each year we seem to experience events that rock the housing market to greater or lesser extents. This year the heavy rains that flooded the Somerset Levels at the end of last winter had a marked effect on that region. The highly successful Commonwealth Games in Glasgow during the summer caused a small lull as attention was drawn elsewhere for a couple of weeks. And, staying with the Scottish theme, it was the Scottish referendum that had the single greatest effect on the market across the entire United Kingdom, as both buyers and sellers all seemed to hold their collective breaths for a month or more before the vote.

In the end it was all right and soon the property market was back to normal. But these events only serve to highlight how susceptible the market is right now to both local and national events.

No doubt the future will have a few surprises for us in 2015 also – in addition to those events we already know will affect the market such as the general election. This election more than anything else, short of a national or international disaster, will define the property market next year. Our minds will be on the ramifications of any new ruling party or coalition.  The move to greater devolution and regional control has yet to make itself felt. So too have big infrastructure projects like rail links and new roads which can have such an effect on local property prices.

But we estate agents are also eagerly awaiting the arrival of a new property website late in January.  We think it will completely change for the better the way people search for houses. It is called OnTheMarket.  Look out for it. We are going to tell you more about this next year.

Meanwhile all of us at Christies wish you a happy Christmas and a far from rocky New Year.
Please contact us on 020 8643 7777 or email at sales@christiesworld.com

Wednesday, 3 December 2014

Market Review December 2014 - Christies House Price Index - Local property prices have risen 15% this year

The latest Christies House Price Index, uses the most up to date reliable data from the Land Registry, and also confirms that property in the local area continues to represent an outstanding investment.

Local property prices have risen 15% so far this year. Medium and long term gains are even more exceptional. Based on past performance potential buyers will be very encouraged to see that prices have risen by 38% over the previous five years, by the same amount over the previous ten years and by an astonishing 165% over the previous 15 years.

What is perhaps even more impressive is that prices are now 15% higher than at the previous peak of the market in early 2008.

The comparison is based on the average price of all local properties sold including flats, maisonettes, all types of houses and bungalows. Figures for November onwards are not yet available - the Index will be revised as soon as the data is released so please check this page regularly for any updates.


Date..............Average Price.........Average Price Oct 2014.......YEARS............INCREASE 

Oct-99..............£117,772.........................£312,154.....................15....................165%


Oct-04..............£225,654.........................£312,154.....................10.....................38%

Oct-09..............£226,987.........................£312,154......................5......................38%

Over the years, and particularly in recent times, demand for properties in Cheam, Sutton, Carshalton, Worcester Park, Ewell, Epsom, Banstead, Chipstead, Kingswood, Tadworth and surrounding towns and villages has increased dramatically. Much of this demand is due to the location of the properties we sell, which are ideally situated on the fringes of London, bordering rural Surrey greenbelt countryside with picture postcard villages and market towns full of rich heritage and character.

Buyers flood into the area to take advantage of a wide range of leisure and shopping amenities. The local schools are nationally renowned and attract large numbers of enquiries, ensuring that property sale levels and prices have remained well above quoted national averages.Cheam, Sutton, Carshalton, Worcester Park, Ewell, Epsom, Banstead, Chipstead, Kingswood and Tadworth all enjoy flourishing local communities with many popular cafés, restaurants and varied independent shops and businesses; this, coupled with many high street names, creates an enviable mix of retail and food outlets.

Combined with excellent road and rail links, demand for property remains constant and represents an exceptional investment. Christies have an unparalleled understanding of the area and are dedicated to ensuring customers are always informed – not just on the property market and prices, but also the area and amenities. When looking at buying a new home, we believe it is imperative that our purchasers are fully informed about all aspects of the potential move.

Your estate agent should be able to answer any of your questions regarding this. We are proud to represent this area and convey that passion to anyone looking to move here.

Please contact us on 020 8643 7777 or email at sales@christiesworld.com