Back to School

Nick Churton of our London Mayfair Global Network suggests it’s not just our children who might be learning some timely lessons this autumn.

Mortgage lending at its highest in seven years’, ‘House prices jump 4.3% in the three months to July - the highest quarterly growth for 11 years’, ‘Rents across England and Wales rose faster in July than in any month since records began in 2009’. All these recent headlines point to a property market that is flying. Or is it?

Have we finally shrugged off the dark days of 2008? Perhaps we haven’t, for other headlines suggest a property crisis. There are far too few houses being built for the increasing demand. There is a crying need for more social housing. The rental sector will continue to grow because it is too difficult for first time buyers to get onto the property ladder - and all this on next-to-zero interest rates. What happens when they start to rise which could be next year? Also those startling headlines are across the board. They don’t show that some regions are still suffering and that London is not so buoyant as it was.

So what does this mean for the autumn market – the after-the-holidays, back-to-school property market? It means that, as ever, pricing is key. Sellers should not get too carried away by the headlines. Just because one area is doing well does not mean all are. And when there is extraordinary pressure on prices brought on by lack of stock it often means there could be a dip in values when there is a surfeit of stock later.

Our advice, whether buying or selling this coming autumn, is not to get too carried away. Stick to the tried and tested methods of sale and purchase. Sellers: ensure that your property is looking at its best, make sure that you have an agent acting for you with a superb track record in marketing and doing great deals in the local area, and above all price to sell. Buyers: look for the best conveyancing solicitors – they will save you time; check that you have all your funds arranged in principle and remember those potential interest rate rises will affect your repayments in years to come. Buyers and sellers: be flexible, be reasonable, be helpful and remember that this is not just about buying or selling a property; it is about moving on and starting a new life. Above all else, including money and principle, that is the most important thing.

www.christiesworld.com

Market Ready

Nick Churton of our London Mayfair Global Network gives some timely advice about getting ready for the autumn property market.

August is traditionally a quiet time in the property market. With so many families on holiday buying and selling homes takes a back step. But for some this is a very important time. This is the month that can be spent getting ready for the autumn market - as September is the month when things usually hot up again.

Getting one’s own house in order has never been more important. Good condition and appearance are crucial to getting top price and beating the competition to the best buyers. Yes, selling property is a competition. There are other houses and apartments that are vying for buyers’ attention. So spending time and even some money in preparation can be very important.

Tastes are changing all the time. What is in one year is out the next. When this relates to clothes keeping up-to-date is relatively easy. But property is a different matter altogether. However there are ways to ensure that a house is market ready without too much expense.

So here are a few golden rules when preparing your property for the market.

Debug: All rooms should be kept particularly clean when buyers are on the prowl – especially kitchens and bathrooms.

De-clutter: it is vital to make the space look as large as possible. There should be a place for books, magazines, clothes, kitchen utensils, etc. and all these things should be in their rightful places. Removing just one piece of furniture from a room can often make a big impact to the sense of space.

De-colour: Gloss black, orange and purple walls may be some people’s idea of great interior design. But many buyers would run a mile. Repaint in white or light grey – it looks clean, offends no one and makes rooms look larger. The uplift in value should far outweigh the cost of the work and materials.

De-smell: we are used to our own house odours but others aren’t. It’s best to remove spicy foods from the menu for a while. Open the windows; buy flowers; make some fresh coffee and perhaps light a good candle or two before potential buyers arrive.

De-noise: Does your property sound good? Is there loud music playing or an off-putting television in the background? Turn them off. Are there young children screaming? Turn them off too. Let peace reign. Or if there is ambient noise from outside such as traffic or aircraft play some low level calm music to sooth the ear and deflect attention.

Finally don’t forget the first impression. You will never have a second chance. Most unkempt front gardens precede an unkempt house. Cut the grass. Prune the plants. Hide the dustbin. Store away the red plastic slide that had faded to pink in the sun.

Follow these rules, price sensibly and you will be on your way to sweet-smelling selling success. You will be gone long before your fellow sellers - ever wake up and smell the coffee.

Put another way, if you don’t love where you live no one else will.

www.christiesworld.com

Christies House Price Index - Local property prices now 21% higher than previous 2008 peak

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 increased by at least 19% in 2014 and continue to rise in 2015. 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 34% over the previous five years, by 45% over the previous ten years and by an astonishing 138% over the previous 15 years.

What is perhaps even more impressive is that prices are now also 21 % 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 June 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 May 2015.......YEARS............INCREASE

May-00..............£137,164.........................£327,010.....................15....................138%

May-05..............£225,609.........................£327,010.....................10.....................45%

May-10..............£243,186.........................£327,010......................5......................34%

In recent times, demand for properties in Cheam, North Cheam, Sutton, Stonecot Hill, Carshalton, Worcester Park, Ewell, Epsom & Banstead  and surrounding towns and villages has increased dramatically. Much of this demand is due to the extremely popular local schools which are nationally renowned and attract large numbers of enquiries, ensuring that property sale levels and prices have remained well above quoted national averages.

Buyers also flood into the area to take advantage of a wide range of leisure and shopping amenities. Flourishing local communities offer popular cafés, restaurants and varied independent shops and businesses coupled with many high street names, creating an enviable mix of retail and food outlets.

These combine with excellent road and rail links, to ensure demand for property remains constant and represents an exceptional investment.

Christies have an unparalleled understanding of the locality and are dedicated to ensuring customers are always informed – not just on the property market and prices, but also the wider area and amenities. 

For example, the location of the properties we sell, 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.

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

www.christiesworld.com

June Market Update - Christies House Price Index - Local property prices continue to increase

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 increased by at least 19% in 2014 and continue to rise in 2015. 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 33% over the previous five years, by 42% over the previous ten years and by an astonishing 138% over the previous 15 years.

What is perhaps even more impressive is that prices are now also 19% 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 May 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 Apr 2015.......YEARS............INCREASE

Apr-00..............£135,138.........................£321,026.....................15....................138%
Apr-05..............£225,476.........................£321,026.....................10.....................42%
Apr-10..............£241,938.........................£321,026......................5......................33%

In recent times, demand for properties in Cheam, North Cheam, Sutton, Stonecot Hill, Carshalton, Worcester Park, Ewell, Epsom & Banstead  and surrounding towns and villages has increased dramatically. Much of this demand is due to the extremely popular local schools which are nationally renowned and attract large numbers of enquiries, ensuring that property sale levels and prices have remained well above quoted national averages.

Buyers also flood into the area to take advantage of a wide range of leisure and shopping amenities. Flourishing local communities offer popular cafés, restaurants and varied independent shops and businesses coupled with many high street names, creating an enviable mix of retail and food outlets.

These combine with excellent road and rail links, to ensure demand for property remains constant and represents an exceptional investment.

Christies have an unparalleled understanding of the locality and are dedicated to ensuring customers are always informed – not just on the property market and prices, but also the wider area and amenities. 

For example, the location of the properties we sell, 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.

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

www.christiesworld.com

Twenty Words

Nick Churton of our London Mayfair Global Network considers the property market in the aftermath of the 2015 general election and the new government’s approach to housing – or not!

The Queen has never had to be too concerned about her own housing. Of course Buckingham Palace was bombed during the war and there was that dreadful fire at Windsor Castle in 1992 – her annus horribilis.

But with Buckingham Palace, Windsor Castle, Holyrood House, Hillsborough Castle, Sandringham House, Balmoral Castle and Craigowan Lodge to choose from there is no shortage of royal accommodation. So housing concerns must be left to the Queen’s subjects.

Royal or not, having a roof over one’s head is a big matter – one of the most fundamental of human requirements and desires whoever you are. So when the Queen read out her speech at the opening of parliament she may have been intrigued as to what her government was going to do about housing. After all there was a lot said about it in the run up to the election.

We had had plenty of mansion tax talk and debate concerning non-dom status and stamp duty rises - not to mention rent caps, three year tenancies and restricted landlord tax relief. All this without doubt helped to cool the housing market across the UK and may have even played a small role in Labour’s downfall at the ballot box.

But in the event the Queen didn’t say very much about housing at all. In fact all she did say from a 1007 word speech were twenty words, "Legislation will be introduced to support home ownership and give housing association tenants the chance to own their own home." Apart from extending the right to buy to housing association tenants, housing it seems has once again been kicked into the parliamentary long grass while matters like Scotland, Europe and the Middle East sit in the much shorter grass.

Never mind. Without all the fears of what another government might do and now knowing what this government won’t do means that it is once again business as usual in the housing world. Already there are clear signs that the market is recovering quickly from its pre-election jitters. This will we hope please the Queen. It certainly will please most of her subjects.

www.christiesworld.com

Buyers voted with their chequebooks at Christies Network Auctions May sale!

Leading auction house, Christies Network Auctions, enjoyed their most successful ever two day sale in May with total sales in excess of £6.5 million being achieved and a sales rate of 77%.

The two day sale which took place on May 7th in London and May 13th in Birmingham saw good levels of activity from buyers on lots stretching across the length and breadth of the Country and who were clearly positive about the outcome of the General Election and who voted accordingly with some frantic and positive bidding.

Lot Two which was a cottage with development potential, was an excellent example as to how Christies Network Auctions’ national reach and local expertise saw local buyers compete with London investors resulting in the best price being achieved.

This lot saw phone bids, on line and proxy bids plus bidders present in the room. The property had a guide price at £59,000 and ended up sold at £116,000. A massive 97% uplift on the reserve price.

The two day sale saw a variety of properties sold including freehold and leasehold residential investments, commercial investments, beach huts, ground rents and life tenancies. Prices sold under the hammer from as little as £1550 (lot 45) to £1.2m (lot 27).

Jeremy Richardson of Christies Network Auctions’ was delighted with the result and said; “The May sale was an interesting one as the first day coincided with the General Election yet there were few signs of nervousness and buyers were clearly positive about taking purchase decisions. This was reinforced even further a week later by which time the election result was clear.”

“Once again, our combination of local expertise and national marketing resulted in some excellent prices being obtained and we are looking forward to our next two day auction which will take place in London on 9th July and Birmingham on the 15th July.”

Lots are now being taken for inclusion in the July catalogue.

To discuss how selling by auction can get you the sale you require, please contact Jeremy Richardson of Christies Network Auctions on 020 8643 7777 or email at sales@christiesworld.com

www.christiesworld.com

May Market Update - Christies House Price Index - Local property prices continue to increase

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 increased by at least 19% in 2014 and continue to rise in 2015. 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 33% over the previous five years, by 42% over the previous ten years and by an astonishing 140% over the previous 15 years.

What is perhaps even more impressive is that prices are now also 18% 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 April 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 Mar 2015.......YEARS............INCREASE

Mar-00..............£132,549.........................£318,864.....................15....................140%
Mar-05..............£224,043.........................£318,864.....................10.....................42%
Mar-10..............£238,831.........................£318,864......................5......................33%

In recent times, demand for properties in Cheam, North Cheam, Sutton, Stonecot Hill, Carshalton, Worcester Park, Ewell, Epsom & Banstead  and surrounding towns and villages has increased dramatically. Much of this demand is due to the extremely popular local schools which are nationally renowned and attract large numbers of enquiries, ensuring that property sale levels and prices have remained well above quoted national averages.

Buyers also flood into the area to take advantage of a wide range of leisure and shopping amenities. Flourishing local communities offer popular cafés, restaurants and varied independent shops and businesses coupled with many high street names, creating an enviable mix of retail and food outlets.

These combine with excellent road and rail links, to ensure demand for property remains constant and represents an exceptional investment.

Christies have an unparalleled understanding of the locality and are dedicated to ensuring customers are always informed – not just on the property market and prices, but also the wider area and amenities. 

For example, the location of the properties we sell, 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.

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

www.christiesworld.com