Issuu on Google+

ON YOUR

DOORSTEP

st & South We dition don e n o L t s e W

Our network of 74 international offices has 6 in South West London alone – we are your local experts.

£1.5m

99%

Average house price achieved in Barnes

Average percentage of houses that achieved asking price in our Putney office in 2013

11.5%

44

Annual house price growth in East Sheen in 2013

Biggest selection of available rental properties in our region - Chiswick

17.3%

26.7%

Rise in lettings viewings in 2013 for our Kew office

Rise in agreed lettings deals in 2013 for our Battersea office

FIGURE 1: KEY MARKET INDICATORS

INSIDE THIS ISSUE… chestertonhumberts.com

Source: Chesterton Humberts Research

MEET THE TEAMS

MARKET COMMENTS

2 3

PROPERTIES

OUR NETWORK

6 8


Your Teams & Market Comments Barnes Christopher Carney

East Sheen Amy Reynolds

Director Sales and Lettings 020 8748 8833 christopher.carney@chestertonhumberts.com

Area Director Sales and Lettings 020 8104 0580 amy.reynolds@chestertonhumberts.com

Battersea Tim Phillips

Battersea Alex Britez

Associate Director Sales 020 7924 4400 tim.phillips@chestertonhumberts.com

Associate Director Lettings 020 7298 5630 alex.britez@chestertonhumberts.com

Chiswick Charles Lang

Chiswick Nikki Mention-Dennis

Associate Sales 020 8995 3443 charles.lang@chestertonhumberts.com

Associate Director Lettings 020 8747 3133 nikki.mention@chestertonhumberts.com

Putney Chris Firth

Putney Catherine Sinnott

Director Sales 020 8246 5959 chris.firth@chestertonhumberts.com

Associate Director Lettings 020 8704 1000 catherine.sinnott@chestertonhumberts.com

Kew Claire Seward Director Sales and Lettings 020 8104 0340 claire.seward@chestertonhumberts.com

Where to find us blog

chestertonhumberts.com

plus.google.com/+chestertonhumberts

@ChestertonHumb

blog.chestertonhumberts.com

facebook.com/chesterton.humberts

pinterest.com/chestertonhumb


Christopher Carney Barnes

Tim Phillips & Alex Britez Battersea

The Barnes sales and lettings markets have been very strong in the second half of 2013. We have seen a record number of motivated buyers registering with us and we have agreed several sales at above asking price. Our unique ‘open house launch’ method has assisted in achieving these excellent results for our clients. The rental market has also seen good quality applicants and an increase in the volume of deals post summer. We continue to build our portfolio of managed properties for clients and pride ourselves on offering a truly professional service from all of our highly motivated and experienced team members in Barnes.

The second half of 2013 has seen the Battersea property market continue to perform strongly. The sales market has been driven by increased prices north of the river, further foreign investment and the development of sites such as Battersea Power Station and the American Embassy at Nine Elms. At the same time lettings has continued to enjoy strong corporate demand coupled with people moving south of the river looking to get more for their money. With rents stabilising at a high level, landlords have to ensure properties are brought to the market in the best possible condition so as to maximise rental return.

Charles Lang & Nikki Mention-Dennis Chiswick

Amy Reynolds East Sheen

2013 has been a very interesting, exciting and challenging year for the sales and lettings markets in the Chiswick area. The second half of 2013 has been fantastic for the sales team, we noticed that the buyers confidence in the sales market is finally back to a good level, with the average house prices within the area going up by 10.8% year on year. We are expecting this trend to continue as we move into 2014. The lettings market here does well as a result of high corporate activity, which our specific corporate department capitalises on. Similarly, there is also a good number of private individuals keen to set up home here.

The sales market has risen dramatically in the second half of 2013, the sheer amount of applicants we register for every new property we take on, suggests this is unlikely to change anytime soon. 10 of our last 13 sales went to sealed bids with new record prices being set every time. Interestingly we have achieved some big lettings prices this year although generally the activity is quite slow, with a real lack of quality applicants. East Sheen does not have a large lettings market so the effect of the Government’s Helpto-Buy scheme and the rise in sales prices has not been as apparent here as it has in busier lettings areas, where rental prices are falling and properties are experiencing void periods. 

Claire Seward Kew

Chris Firth & Catherine Sinnott Putney

Demand for properties in Kew has far outweighed supply and as such, we have seen significant increases in prices in the second half of this year. Residents appreciate all Kew has to offer with excellent schools, a charming village, good transport link in and out of London and the beautiful Royal Botanic Gardens and Kew Green. Kew remains a first choice for families and as such, there is a lot of internal movement within the area for those looking to buy and rent. Corporate tenants, relocating from overseas, are attracted to Kew due to the sense of community the area offers and the large open spaces.

The Putney property market accelerated in Q3 and Q4 2013. Sales values for houses have continued to sky rocket due to lack of supply, and values of flats under £600,000 have also increased because of the increased demand thanks to the Help–To–Buy scheme. “Asking Price” offers and “sealed bids” have become the norm for any attractive and desirable properties in West and East Putney. Good quality properties are still attracting excellent rents, however due to a decrease in potential tenants it is imperative that landlords ensure their properties are presented to the highest possible standard. Some landlords are having to reduce rents to effectively let their properties rather than accruing void periods, however by Spring 2014 we expect to see this rectified as tenant demand should push rents back up again.


Research ❖ Land

Registry data shows that in the year to September house prices across London increased by 9.3% to a new high of £393,462, meaning the average price of a London home is 135.5% higher than the national average.

❖ The

latest sales volumes statistics (July) show that the number of sales above £1m in London increased by 44% in comparison with July 2012.

❖ The

average monthly rent in London fell 4% in October to £1,283 per month according to the Homelet Rental Index, although on an annual basis rental values were up 2.6%. The average monthly rent across the UK dropped 4.6% in October to £815 per month, meaning it is 91% more expensive to rent in the capital.

❖ Mortgage

lending data from the Council of Mortgage Lenders highlights the continuous growth of first time buyers in London, as 13,100 loans were advanced in Q3 last year representing a 32% uplift on the same period in 2012.

❖ In

the third quarter of last year 10,900 loans were advanced to home movers in London which was an increase of 28% compared to Q2 2013, as well as a 6% improvement on the same period in 2012.

10.8%

10.3%

KEW

11.5%

CHISWICK

10.6%

BARNES

EAST SHEEN PUTNEY

10.3%

BATTERSEA

10.7%

DIFFERENCE IN SALES PRICES FOR SOUTH WEST & WEST LONDON OFFICES: END 2012 VS END 2013. Source: Chesterton Humberts Residential Sales Index. Zoopla.


SALES • The latest figures from our sales index show that across our South West and West London offices house prices increased across the board, with activity also increasing across many areas. • The most significant uplift occured in East Sheen with house prices moving up 11.5% since the end of 2012, followed by a 10.8% increase in Chiswick. Meanwhile Barnes, Battersea, Kew and Putney all recorded price increases above 10%. • The highest average house prices are currently being achieved in Barnes with an average of £1,465,000, followed by £1,091,250 in Chiswick. Across our other South West London office locations average house prices in Battersea (£959,642), East Sheen (£1,034,615), Kew (£1,062,727) and Putney (£968,000) are all close to or just over the £1m barrier. • The upward trend of house prices is supported by our offices witnessing activity among buyers and vendors increasing throughout last year. In Barnes viewings in 2013 were up 6.1% in comparison with 2012 along with a 10% jump in the number of exchanges. This trend occurred at a more extreme scale in Battersea as viewings last year were 18.9% higher than 2012 and exchanges increased by a massive 63.6%.

• The average weekly rent in Chiswick has fallen back 6.5% along with a 3.2% decrease in Barnes and a 1.7% reduction in Kew. However, in Putney (2.8%), Battersea (2.2%) and East Sheen (1.7%) weekly rental values picked up through 2013, bucking the trend occurring across large parts of prime London. • In Battersea house prices are likely to enjoy strong and sustained growth as the Battersea Power Station redevelopment gathers pace, supported by the Northern Line extension to Nine Elms which has secured a £1bn government guarantee. • As is the case in the sales market Barnes is the most expensive of the six office locations to rent with an average rent of £2,379 pcm. All our other offices in the region have average rents above £2,000pcm. • Tenant activity in 2013 was up across the board with East Sheen and Kew seeing viewings jump 46.6% and 26.7% respectively, while Barnes (29.2%), Battersea (28.8%), Chiswick (28.6%) and Putney (7.1%) all saw viewing numbers improve against 2012. Despite viewing numbers increasing agreed lettings fell 18.5% in Barnes, 12.2% in East Sheen and 6.6% in Putney. However, the number of agreed lettings in Battersea and Chiswick increased at healthy rates of 17.3% and 15.4% respectively, but in Kew agreed lettings soared 50% last year despite the challenging market.

• Positive activity also took place in our East Sheen and Putney offices as instructions jumped up exponentially, coupled with a 10.7% increase in exchanges in East Sheen and a 31% jump in the number of appraisals carried out in Putney. • Prices are continuing to rise across the South West of London and in Chiswick as demand for property from city workers and investors remains strong. Prices within the Prime Central London areas of Kensington, Chelsea and Mayfair are still rising and wealthy buyers now see the prime areas of South West and West London as a better option, providing more internal and external living space.

LETTINGS • Throughout Prime London the lettings market has endured a difficult period and this remains the case in parts of South West London. Across our South West and West London offices the average weekly rent stands at £731, a fall of 1.2% since the end of 2012.

Rents in London are

greater than the average for the rest of the country


FOR SALE

Castelnau, Barnes SW13 £2,950,000

FOR SALE

Riverview Gardens, Barnes SW13

FOR SALE

Lawn Crescent, Kew TW9 £1,850,000

£2,500,000 FOR SALE

Albion Riverside, Battersea SW11 £1,750,000

SOLD

St Peter’s Square, Chiswick W6 £2,999,950 SOLD STC

Haldon Road, Wandsworth SW18 £1,150,000

FOR SALE

Hertford Avenue, East Sheen SW14 £1,650,000

SOLD

Park Drive, East Sheen SW14 £1,900,000 SOLD STC

Eccles Road, Battersea SW11 £1,125,000

FOR SALE

Shottfield Avenue, East Sheen SW14 £1,500,000 SOLD STC

Dungarvan Ave, Putney SW15 £1,500,000 SOLD

Defoe Avenue, Kew TW9 £975,000


TO LET

Hester Road, Battersea SW11

TO LET

Hotham Hall, Putney SW15 £7,500 per calendar month

TO LET

Kew Bridge, Brentford TW8 £7,250 per calendar month

£8,450 per calendar month TO LET

Prebend Gardens, Chiswick W6

£4,983 per calendar month TO LET

Wyatt Drive, Barnes SW13 £3,500 per calendar month

TO LET

Ashbourne Grove, Chiswick W4

£3,878 per calendar month TO LET

Beaufort Close, Putney SW15

£3,100 per calendar month LET

Grosvenor Avenue, East Sheen SW14

£2,975 per calendar month

LET

Lawn Cresent, Kew TW9 £2,950 per calendar month

TO LET

Fentiman Road, Stockwell SW8

£3,878 per calendar month TO LET

Harrods Village, Barnes SW13

£2,750 per calendar month LET

Chiswick High Road, Chiswick W4

£2,275 per calendar month


Our network Hampstead Swiss Cottage

Kentish Town

Islington Camden St John’s Wood Little Venice Notting Hill Hyde Park Covent Garden Mayfair Kensington Knightsbridge Pimlico Chelsea

Chiswick Kew

York

Tower Bridge Canary Wharf

Lincoln

Fulham (3) Barnes

East Sheen

Battersea

Nottingham

Putney

Stamford

Norwich

Ludlow Hereford

Cirencester Chippenham Marlborough

London

East Grinstead Salisbury Wadhurst Sherborne Petersfield Taunton Yeovil Southampton Blandford Chichester Honiton Bridport

NORTH AMERICA

Sevenoaks Canterbury Tenterden

Truro Barbados

CONTACT Chesterton Humberts Barnes 133 Church Road, sw13 9hr

Moscow United Kingdom Italy France Spain Gibraltar Malta Abu Dhabi

Chesterton Humberts Battersea 6 Battersea Rise, sw11 1ed

Chesterton Humberts Chiswick 155 Chiswick High Road, w4 2dt

Dubai

Chesterton Humberts East Sheen 254a Upper Richmond Road West, sw14 8ag

Singapore

South Africa

chestertonhumberts.com

Australia – Brisbane Australia – Sydney

Chesterton Humberts Kew 306 Sandycombe Road, tw9 3ng

Chesterton Humberts Putney 153 Upper Richmond Road, sw15 2tx


On Your Doorstep - South West & West London Edition