ABSOLUTELY Property
Getting settled for the festive period The improved market conditions witnessed this year have been the result of a number of factors that have contributed positively to buyer sentiment. This is clearly evident in Notting Hill where we have seen a rise in enquires from both foreign investors, and thanks to increased lending and improved mortgage rates, domestic buyers. The greater competition between buyers for the few available prime properties is continually driving house prices in an upwards direction, with the borough of Kensington & Chelsea recording an annual increase of 6.5% in the year to July 2013*, this
Enna-Mae Assiter Associate Director, Chesterton Humberts, Notting Hill
is of course great news for local homeowners and investors who have already bought. There is a clear focal point to work towards as Christmas edges ever closer and the idea of being settled into a new home for the festive period is at the forefront of many people’s minds. *Land Registry data July 2013 � 020 3040 8585 • chestertonhumberts.com
Mountgrange Heritage expands into W2 with the opening of its fourth office
S
uccessful independent estate agent Mountgrange Heritage is delighted to announce the opening of its fourth office in Craven Terrace W2. The new Bayswater office opened in September and is ideally placed to serve the diverse areas of Bayswater, Paddington, Marble Arch and Hyde Park - giving the firm even greater coverage in West and Central London. The office was previously occupied by Alexander Gordon & Co, a family firm of Estate Agents whose owner, Colin Craven, has retired from estate agency. Impressed by the team at Mountgrange Heritage, Colin approached the Directors last year with an offer to take over his business. Speaking about the opening of the office, Michael Wilson, Director at Mountgrange Heritage said “The opening of our fourth office is the icing on the cake of a hugely successful 18 months. Last year we opened our third office in North Kensington and when the opportunity came up to take over this business, which has been serving Bayswater for over 25 years, it was an opportunity too good to miss. We are all hugely excited about our expansion into W2
Maddie Lewington Associate at Douglas & Gordon
D&G Diary
as this is an area very much on the up and it gives our clients more exposure, allowing us to offer a larger and more diverse portfolio of properties to buyers and tenants”. � 020 7221 2277 • mountgrangeheritage.co.uk
William Tellwright Manager of John D Wood & Co. Holland Park
First time buyers making a comeback With step-daughters aged 18, 16, and 14, it is not without alarm that I read “18 to 41 year olds now live with parents”! In actual fact, the autumn market is looking very promising for this sector, as mortgage lending levels increase and stock levels rise. First time buyers are entering the market in their largest numbers since 2007, consequently, the sub £2m market is the fastest moving sector. Holland Park prices have maintained a healthy line throughout 2013; however, September is already seeing well organised buyers competing at all levels, trying to ensure they have moved by end of the year. � 020 7727 2233 • johndwood.co.uk
Paul Cosgrove Director, Finlay Brewer
Increasing confidence in the market The market continues to be aggressive in all market segments up to the £2m mark. At the upper levels, prospective buyers are reluctantly getting used to the increased 7% stamp duty on properties over £2m, so we are seeing increased movement in that market sector and good, interesting properties above the £2.5m mark continue to command a rarity value premium. There is increasing demand for small houses and one and two bedroom flats which is encouraging for vendors and demonstrates the increasing confidence in the property market as a whole. � 020 8749 7719 • finlaybrewer.co.uk
Has everyone felt that Autumnal chill in the air? Almost overnight it feels like an extra layer is needed and someone I know has already put the central heating on! A little like the weather, the September market started with a snap. New clients have begun waking up and enquiring about selling, which is so encouraging. My tip to buyers this month is, if you fall in love with your dream home, offer as much as your budget allows. Don’t be surprised if you have to pay a little more than you want to – with fewer
properties on the market, premium prices are being achieved and there is no sign of this stopping. We’ve also just welcomed a new addition to our team in Westbourne Grove, Sarah Kerr who is busy keeping us in check. Her initiation will come at our Summer Party which although it sounds a little delayed in the year, is actually a brilliant time to get together after the holidays. � 020 7727 7777 • douglasandgordon.co.uk
115 USE Property NEWS.indd 115
01/10/2013 16:18