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Manors’ market update Welcome to the August 2013 edition of the Manors’ London property market update.

Property prices in W1 by number of bedrooms

Property prices in W1 by type £8m

AVERAGE PRICE

Properties for sale The following selling price analysis summarises advertised homes for sale in London’s W1 postcode as at 29th July 2013 in order to provide an indication of current prices in Mayfair, Marylebone and surrounds.*

PRICE

£7m

£6m

Source: Home.co.uk Property Search Engine £5m

Average price of properties for sale in W1 – £2,948,176 £4m

Property prices in W1 by number of bedrooms £3m

One bedroom

Average price £939,127

Two bedrooms

£1,914,789

Three bedrooms

£3,847,534

Four bedrooms

£5,119,924

Five bedrooms

£6,846,332

AVERAGE PROPERTY PRICE IN W1

£2m

Property prices in W1 by type

£1m

Average price Flat £2,663,287 Terraced £5,278,320

For information on London investment, contact Manors: +44 (0)20 7486 5655

DETACHED

SEMI-DETACHED

TERRACED

FLAT

FIVE BED

FOUR BED

THREE BED

Detached –

£0m TWO BED

£4,200,000

ONE BED

Semi-detached


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Manors’ market update Rents: Spotlight on W1 The following rental price analysis summarises advertised rents for homes to let in London’s W1 postcode as at 29th July 2013*.

Summary of Properties for Rent in W1

Property Rents in W1 by number of bedrooms 16K

AVERAGE RENT MEDIAN RENT

Source: Home.co.uk Property Search Engine 14K

Summary of properties for rent in W1 Total properties for rent in W1 4,191

12K

Properties for rent in W1 listed in the last 14 days 497 Average property rent in W1 £5,229 pcm Median rent £3,358 pcm

10K

Property Rents in W1 by Number of Bedrooms One bedroom

Average rent £3,168 pcm

Median rent £2,275 pcm

Two bedrooms

£5,230 pcm

£3,748 pcm

Three bedrooms

£8,528 pcm

£6,283 pcm

Four bedrooms

£11,256 pcm

£8,017 pcm

Five bedrooms

£15,770 pcm

£14,083 pcm

8K

6K

Property prices in W1 by number of bedrooms Room

Average rent £1,183 pcm

Median rent £977 pcm

Flat

£4,951 pcm

£3,250 pcm

House

£6,923 pcm

£4,000 pcm

AVERAGE PROPERTY RENT IN W1* pcm 4K MEDIAN PROPERTY RENT IN W1* pcm 2K

For information on London investment, contact Manors: +44 (0)20 7486 5655

HOUSE

FLAT

ROOM

FIVE BED

FOUR BED

THREE BED

TWO BED

ONE BED

0K


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Manors’ market update Manors launches new lifestyle magazine The first issue of mlife, a brand new property and lifestyle magazine, was published by Manors in March. Focusing on Marylebone and surrounding areas, and packed with useful information about life in Central London, the magazine also showcases some of the area’s premier properties for sale and to let. You can read the first issue online at www.manors.co.uk/magazine/mLife.html. The next issue of mlife will be published in September. Click here to read the first issue

RECIPE

Pasta  from  the  rocks A  delicious,  authentic  Italian  dish  brought  to  you  by   the  owners  of  Marylebone’s  famous  CaffÊ  Caldesi Pasta  allo  scoglio Scoglio is Italian for rock, so this dish is made with crustaceans fished from the rocks and tossed into bouncy, al dente lengths of pasta. The salty seawater is released from the shells as they cook and flavours the sauce along with chilli, garlic and fresh parsley. Serves 4 350 g (12 oz) spaghetti or linguine 50 ml (2 fl oz/1⠄4 cup) extra-virgin olive oil 2 medium squid, cleaned and cut into 1 x 3 cm strips (1⠄2 x 11⠄2 inch) 400 g (14 oz) fresh clams, cleaned 400 g (14 oz) fresh mussels, cleaned 4 raw king prawns (shrimp), with shells 1 garlic clove, finely chopped 1⠄2 fresh red chilli, depending on strength, finely sliced handful of parsley, roughly chopped 50 ml (2 fl oz/1⠄4 cup) white wine 12 cherry tomatoes, halved good pinch of salt Bring a pan of well-salted water to the boil and cook the pasta until al dente. Heat the oil in a large frying pan, add the squid and cook through for just a few minutes. Add the remaining seafood, garlic, chilli and parsley. The shells will start to open in just a few minutes. When they are all open, pour in the wine and let it reduce for a couple of minutes. Discard any unopened shells. Then add the cherry tomatoes and salt. Drain the pasta and toss in the sauce. Serve on warmed plates.

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For information on London investment, contact Manors: +44 (0)20 7486 5655

KATIE AND GIANCARLO CALDESI have a passion for Italian food. As well as CaffĂŠ Caldesi, they own the Marylebone La Cucina Caldesi cooking school, and have spent more than ten years passing on their culinary skills to students at all levels. The couple have written several cookbooks, including this newly published one, The Amalfi Coast, which features a collection of delicious dishes that define the region, including Pasta allo scoglio. Illustrated with photographs that capture the essence of this dramatic destination, the book is a glorious and decadent celebration of Italian food.

       

           

   Â

    ,  £25  

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Manors’ market update Residential sales in Central London continue to flourish The start of 2013 proved extremely busy for Manors with some incredible sales in and around Marylebone on behalf of our clients. As the year has progressed, things have failed to slow down and we experienced a record-breaking spring, both in terms of the number of sales agreed and the volume of instructions taken on (a significant increase on last year). The hot weather and greater quantity of housing stock has done nothing to dampen prices or demand and we have been inundated with enquiries, especially from Middle Eastern buyers, many of whom spend their vacations in London in July and August.

Over the last few months, we’ve achieved some record selling prices for a number of very special apartments; it’s now become quite common for us to achieve in excess of £2,000 per square foot, something we couldn’t have contemplated a couple of years ago.

“It’s now become quite common for us to achieve in excess of £2,000 per square foot, something we couldn’t have contemplated a couple of years ago.”

To find out more about selling with Manors, or to arrange a complimentary market appraisal of your property, please email sales@manors.co.uk

Clients selling through Manors continue to receive a first-class and highly efficient service. This is possibly best illustrated by the recent sale of a duplex apartment on Robert Adam Street, a property which had previously been on the market for four months with two of our competitors without success. When Manors was instructed, we agreed a sale within two weeks of taking it on, to the complete satisfaction of our client. Other examples of our effectiveness include the sale of an apartment in W2 which achieved 23% more than the average selling price in the block, and an apartment in Chiltern Court which we successfully sold on the same day we were instructed.

For information on London investment, contact Manors: +44 (0)20 7486 5655


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Manors’ market update Manors targets Middle Eastern buyers at leading Qatar property In late spring, a team from Manors travelled to Doha in Qatar to exhibit at Cityscape, a leading annual Middle Eastern property fair. The three-day exhibition took place from 27-29 May 2013 with attendance and transactions both far exceeding expectations.

Attended by His Excellency Sheikh Hamad Bin Jassim Bin Jabor Al-Thani, Prime Minister and Minister of Foreign Affairs in Qatar, Cityscape Qatar featured nearly 100 companies, including some of the biggest Qatari developers, along with other industry leaders, international developers and property investors.

“Cityscape was an extremely successful exhibition for Manors. We agreed 4 significant sales on the spot and made a large number of new contacts, some of whom we’re now assisting with purchases, sales and lettings in Central London.”

Qatar Real Estate Summit, held alongside Cityscape Qatar 2013, attracted international speakers and market experts. The talks addressed the biggest challenges of the Qatar real estate market as well as key strategies to capitalize on the country’s booming real estate market to advance business and harness the potential of the fastest growing economy in the world.

High visitor numbers were complemented by strong international media attendance and this year’s event was hailed as the region’s premier real estate event.

According to Dominique Zarbhanelian, Residential Sales Manager at Manors, “Cityscape was an extremely successful exhibition for Manors. We agreed four significant sales on the spot and made a large number of new contacts, some of whom we’re now assisting with purchases, sales and lettings in Central London. We hope to attend the exhibition again next year and we are planning to target other international property exhibitions in Saudi Arabia, China and Russia in the coming months.”

For information on London investment, contact Manors: +44 (0)20 7486 5655


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Manors’ market update Residential lettings go from strength to strength

T LE

Activity in Manors’ lettings department has mirrored our hectic sales division this year. We experienced an unusually busy January with an exceptionally high level of tenancy renewals and a record number of new tenancies, leading to lettings outperforming expectations for the month by more than 20%. Record first and second quarters followed and we successfully achieved asking prices on 80% of all properties let. Incredibly, over half the properties marketed by Manors were let within a day of being instructed. Increasingly clients are opting to instruct Manors on a sole agency basis, thanks to our strong reputation as one of the most effective and proactive residential lettings agents in Marylebone and surrounding areas.

“We experienced an unusually busy January with an exceptionally high level of tenancy renewals and a record number of new tenancies”

80

%

Record first and second quarters followed and we successfully achieved asking prices on 80% of all properties let

For information on London investment, contact Manors: +44 (0)20 7486 5655


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Manors’ Manors’ market market update update Hot properties of the week: For Sale

Hyde Park Square, W2 £5,700,000

Bryanston Court, W1 £3,100,000

Bryanston Square, W1 £2,995,000

Bilton Towers, W1 £1,400,000

Wyndham House, W1 £2,800,000

Bentinck Mansions, W1 £1,350,000

An imposing and rarely available 4 bedroom, first floor, lateral apartment comprising of approximately 2,314 sq.ft, in this much sought after period white stucco fronted building. More

Situated on the 2nd floor of this sought after purpose built block, a bright and spacious 2 double bedroom apartment, located moments from Hyde Park, Marble Arch and Oxford Street. More

A truly exceptional and fully refurbished 4-bedroom, 2-bathroom apartment on the 3rd floor of one of Marylebone’s most sought-after 24hour porters blocks. More

A bright and very well-presented contemporary 4-bedroom, 3-bathroom apartment on the 3rd floor of this sought-after modern block (with lift) and access to the communal gardens of Bryanston Square. More

A beautifully refurbished 2-bedroom, 2-bathroom apartment on the 3rd floor of this well-kept period building with lift access and stunning views over the square. More

A generously proportioned 2-bedroom, 2-bathroom apartment with large private terrace in this highly regarded mansion block in a quiet location moments from Marylebone High Street. More

For information on London investment, contact Manors: +44 (0)20 7486 5655

New Hereford House, W1 £2,950,000

A luxurious, recently refurbished 3 bedroom apartment, located within a secure portered building close to Oxford Street and Hyde Park. More


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Manors’ Manors’ market market update update Hot properties of the week: To Let

Harley House, NW1 £3,500 pw

Fitzhardinge House, W1 £2,850 pw

Portman Close, W1 £1,800 pw

Bryanston Square, W1 £1,300 pw

St Andrew’s Mansions, W1 £1,150 pw

York Place Mansions, W1 £965 pw

An absolutely stunning 3-bedroom, 3-bathroom lateral apartment in this prestigious 24-hour portered block moments from Regent’s Park and Baker Street Station. More

A stunning 2 bedroom, 2-bathroom property in a fabulous location. The property has an attractive leafy outlook and is on the 3rd floor with the benefit of lift access. More

A spacious and bright penthouse, situated in one of the most prestigious portered blocks in West End with stunning views of Portman Square. More

A fabulous 2-bedroom, 2-bathroom apartment on the 1st floor of this sought-after building moments from Marylebone High Street. More

A contemporary 2-bedroom, 2-bathroom apartment moments from Portman Square with the benefit of a private courtyard garden, air cooling, underfloor heating and a 24-hour concierge. More

A fully-furnished and very wellpresented 3 double bedroom, 2-bathroom top floor apartment in this prestigious portered block moments from Baker Street Station and Regent’s Park. More

For information on London investment, contact Manors: +44 (0)20 7486 5655

Montagu Square, W1 £1,500 pw

A stunning 3-bedroom, 2-bathroom duplex apartment in a period building with views over the square. More

Manors Market Update Aug 2013  
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