Two Heads...

On the basis that two heads are better than one, then one hundred heads are a great deal better still. Andrew & Jeremy Richardson of Christies recently joined other highly regarded estate agents at the annual Mayfair Group conference at the prestigious RAF Club in London’s Piccadilly to add their experience and know how to one of the most important meetings in the property calendar.

The estate agency world moves so fast nowadays. Information and the flow of it have turned a rather slow-working, paper-ridden business into a lightning fast service that uses all the latest technology. But there are still important factors between yesterday and today that have not changed, like the crucial responsibility of helping clients with their most financially important assets.

Technology, national and international marketing, working together, photography and advertising were discussed during a lively and thought-provoking afternoon. The Mayfair Group represents over 450 offices worldwide including over 300 offices throughout the UK.

Firms from all over the UK, and several from Canada and the USA, were represented. 

Andrew Richardson of Christies says, "This conference is very important and next year’s is already in the diary. Working together is what sets the Mayfair Office Group apart. Being local experts is important, but so too is working together with the best in the business across the UK and overseas. The Mayfair Group conference brings all this amazing property expertise together with one aim – how we can all work better, smarter and more successfully for our clients."

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

www.christiesworld.com

Voting for Christmas

With Christmas fast approaching Richard Killoughery of Christies takes a look at how the property market is shaping up as we approach the holiday season.

In these austere times, especially in the run up to Christmas, it is quite natural to want to get the best deal going, particularly on big-ticket items. And there is no bigger ticket than property.

There are lots of ways to try to get a good deal when buying or selling a property. A favourite is to attempt to buy a house for less than it is worth. Would you sell your property for less than it is worth? No you wouldn’t. And neither will anyone else in their right mind. Another way is to try to get someone to buy your own home for more than it is worth. Would you pay over the odds for a house?

But what is a property really worth? That is an emotive question that always has a subjective answer. Nowadays a fun thing to do is to look up the value of the property in which you are interested on one of the many internet property portals. You may be delighted at the stated low value - until you look up the value of your own property. It is then that you discover what a complete farce it all is. Because the value of an individual property can’t be determined through some clever algorithm.

Yes, value is influenced by recent local sales, details of which can be stored on a database. But value is also determined by appearance, proportion, condition, orientation and running costs. It is determined by décor, cleanliness, smell and feel. It is determined by places to put things like cars, clothes, vacuum cleaners, empty suitcases and children. Then there are the neighbours, the nearness to local schools, shops and public transport, the view, the garden size, the state of the market and the desire of the buyer. These issues can’t be quantified by data that can be stored on a database. Even in a street of identical houses one side of the street or one end of it is usually more desirable than the other – and therefore more valuable. But an algorithm doesn’t know that. Sentimentally put, it is one’s heart that knows the value of a property. And commercially put, it is an experienced estate agent who is best placed to advise.

And it is estate agents too that are in the minds of dealmakers. Of course we all like to get a bit of a bargain – especially at the moment. But there must be limits. Some sellers seem all too happy to put their most valuable asset in the hands of an inexperienced and/or cut-price firm of estate agents or an online lister. Why would they do that? Thousands and even tens of thousands of pounds are at stake in the sale of their property. It is like turkeys voting for Christmas. A cut-price surgeon doesn’t seem a very good idea for one’s health medically, and likewise a cut-price estate agent may not be very good for one’s health financially. Estate agency is one of those areas where, for relatively little extra cost, there is a greater likelihood of a much larger return, not to mention valuable reassurance during a difficult time. And remember, unlike surgeons, estate agents don’t get paid at all unless their clients agree with the results! Sometimes economies can be false - few more damaging than in property.

So there you have it. Try and cut corners and your move will rarely be anything other than a headache. Don’t cut corners and your move may still be a headache but you could end up with more money in the bank or a better roof over your head. It’s your vote.

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

www.christiesworld.com

On your marks . . . get set . . . go!

A global sporting event may be upon us, but for some this summer matters of even greater personal significance are happening closer to home. Nick Churton of our London Mayfair Office puts things into perspective.

This August there will be a great deal of huffing and puffing going on in East London. There will be running and jumping, throwing, swimming, rowing, diving, sailing and cycling - plus much more.

But for some, who won't actually get much closer to a stadium than their sofas, there will be another demanding prize to compete for this summer – a new home. Competitors won’t be representing their country but they may well be representing their families.

Like top-flight sport, house buying takes a great deal of preparation. It is not an easy undertaking. It takes the long distance stamina of a Mo Farah and sometimes the sprint speed of a Usain Bolt. It takes the versatility of a Jessica Ennis, the grit of a Steve Redgrave, the tactics of a Ben Ainsley and the agility of a 16-year-old Russian gymnast, named Olga. Buying a home is not as pretty as Tom Daley in a 10-metre dive or perhaps as explosive as Chris Hoy in the velodrome. But winning this discipline - and it does take discipline - means dedication, planning and some sacrifices.

Winning the perfect house is a great personal achievement. But unlike so many sports there are no silver and bronze medals for being a runner-up. There is not even a gold medal for winning. But, besides satisfaction, comfort, safety, investment and shelter, there is one other prize for the winner - he or she can choose to plant a laurel in their new garden.

Whether you are competing for gold or for a new property this August, we wish you well.

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

Property continues to represent a sound long term investment

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

Medium and long term gains are exceptional. Based on past performance anyone looking to buy a property in the coming months will be very encouraged to see that prices have risen by 42% over the previous ten years and by an astonishing 179% over the previous 15 years.

What is perhaps even more impressive is that in spite of the down turn in the property market since 2007/2008 prices are still within 2% of the level reached 5 years ago.

The comparison is based on the average price of all local properties sold including flats, maisonettes, all types of houses and bungalows. Figures for June & July 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 May 2012.......YEARS............INCREASE

May-97..............£88,562..........................£247,512...........................15.....................179%

May-02............£173,446..........................£247,512...........................10......................42%

May-07............£252,907..........................£247,512............................5.......................-2%

Over the years, and particularly in recent times, demand for properties in Cheam and the nearby areas, such as Sutton, Ewell, Epsom, Banstead and Kingswood, 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 Village has a flourishing local community 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 either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

Greed Works

Nick Churton of our London Mayfair Office takes a look at what makes the property market go round.

When Michael Douglas as Gordon Gecko in the 1980s film, Wall Street, said, "Greed is good" it seemed a rather shocking statement.

Well, greed is rather good in property. Greed works. Greed – or to put it more gently, ambition - fires the market. It is people’s ambition, however humble or grand, that makes them seek new homes for themselves, their families, their jobs, their asset bases, their pets, their toys, their lifestyles or their statuses. It was ever thus.

But ambition also maintains the status quo. The ambition of a purchaser to buy a property for as little as possible keeps in check the ambition for a seller to achieve as much as possible. In this respect greed works because it forces realism into the market and provides a platform for deals that are acceptable to all sides - albeit sometimes grudgingly. In a way the friction of conflicting greed provides the heat that ultimately forges market value.

The trouble comes when one side is more ambitious than the other – a little too greedy than is good. Greed tempered by reason is one thing. Blind greed is quite another. An unrealistic offer is as useless as an exorbitant asking price. Both get nowhere.

This is a time of greatly conflicting property market reports. Some commentators say that prices are still going down – great for buyers - while some say prices are creeping up – great for sellers. All, somehow, blame the current economic conditions. But they miss the real point.

Despite the Greek, Spanish and Italian fiscal precipice, the Euro Zone conjecture, the lack of discernible growth in the UK, the ambiguous US economy, the Arab Spring, the booming London luxury property market, global trade protectionism, the drought, the wet weather, the Olympics or the Duchess of Cambridge’s wellies, if a purchaser makes a reasonable offer, and a reasonable seller accepts it, both will achieve their ambitions – even in this market and despite what else is going on in the world. That is the point.

On the face of it an estate agent’s job is to sell property. In reality it is to manage the expectations and ambitions of buyers and sellers - reasonable or otherwise - to achieve agreeable results for both sides. After all without that no one is going anywhere - however ambitious he or she is!

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

Beware of Greeks Bearing Debts

The media is full of economic woe but Nick Churton of our Mayfair Group Network’s London Head Office finds that the UK property market is anything but downbeat.

The Euro zone is in crisis. We really are in a quandary over austerity versus growth. The French disagree with the Germans and the British disagree with everybody. What is one to think or do?

In central London there is little doubt over what many mainland Europeans are doing – including wealthier Greeks. They are piling into residential property in our capital. Whilst we are not exactly cocking a snook at our Euro-cousins, we do at least have a property market that seems to provide an attractive haven for money in these difficult times.

Our local experience, while not quite reflecting the market in central London, is of increasing activity since the second half of last year. Property is trading, and for the right property at the right price it is trading well. This is contrary to media commentary and speculation.

Within the residential property sector there is the growing realisation that nothing will ever be quite the same. Perhaps we are at a moment in history, like the industrial revolution, when everything changes forever through this financial revolution.

And we are not out of the woods by a long chalk. The Euro zone problems, Greek and Spanish debt and the further pressure these may bring to our own banks - already coy about lending money - will create further challenges. But overall there seem two very good places to be at the moment. One is in Britain and the other is in property.

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

House Prices Remain 'Rock Solid'

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

Medium and long term gains are exceptional. Based on past performance anyone looking to buy a property in the coming months will be very encouraged to see that prices have risen by 46% over the previous ten years and by an astonishing 187% over the previous 15 years.

What is perhaps even more impressive is that in spite of the down turn in the property market since 2007/2008 prices are still 1% higher than they were 5 years ago.

The comparison is based on the average price of all local properties sold including flats, maisonettes, all types of houses and bungalows. Figures for April & May 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 Mar 2012.......YEARS............INCREASE

Mar-97..............£86,292..........................£247,512...........................15.....................187%

Mar-02............£169,129..........................£247,512...........................10.......................46%

Mar-07............£246,216..........................£247,512............................5.........................1%

Over the years, and particularly in recent times, demand for properties in Cheam and the nearby areas, such as Sutton, Ewell, Epsom, Banstead and Kingswood, 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 Village has a flourishing local community 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 either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.