As a thriller writer Martin Bodenham is used to plot twists although he hopes he can see what’s coming with property prices over the next year or two. Having

When should you buy a house in 2023?

After two and half years of soaring prices and frantic bidding wars, for sale signs are staying up longer and estate agents’ phones are quieter.

How to save money on a home in the buyer’s market

Property sales are up by 20 per cent and average asking prices have risen by £10,000 in the four weeks since a cut in stamp duty, according to Bank of England data.Despite confirmation that the country is now in the depths of recession, average asking prices are £30,000 higher and thousands more sal

Surge in house prices and sales after Rishi Sunak slashes stamp duty

Pixel Kicks, the full-service digital agency which is based in Ancoats, is celebrating after winning two brand new clients; one in the tech and the other in the property sector. The first win is with Zebraware which builds data-rich and immersive software that empowers engineers to design sustainabl…

Manchester agency Pixel Kicks continues growth with two new wins - Business Manchester

Central London Buying Agent Boutique firm offering advisory services to private clients, family offices and trusts. Data driven perspective on the London property market to cut through the noise.

property

politics

Alex Mosley

London Property Market: Autumn Update 1. Weakening Sterling – Uncertain Implications for Central London The markets did not react well to the government’s uncosted ‘mini budget’ three week ago. Time will tell if today's policy reversals will bolster Sterling.&nbsp; Overseas buyers can expect to be inundated with press releases telling them now is the time to buy. However, on the ground, there is mixed sentiment on whether London is ‘On Sale’. Several of our Dollar based clients are happy with the increasing discount while another family office foresees more downward pressure on Sterling this year. As LonRes’ Autumn reports notes, ongoing currency weakness “reflects the lack of appetite for UK-based investment irrespective of asset class.” Buyers will have to accept a degree of uncertainty in both the FX and property markets if they wish to transact. Volatile currency movements underline the importance that global clients buy and hold for the long-term, ideally for at least 5 years and preferably ten or more. This was already the case due to the high upfront Stamp Duty costs, including the 2% non tax resident surcharge. One client recently opted for a three over a two bedroom flat to ensure they don’t need to move in the short-term. 2. A Tale of Two Markets?&nbsp; Since Covid, the UK’s property market has performed very strongly overall but a downturn is looking increasingly likely. The average two year fixed mortgage rate reached its highest average for 14 years this week and Halifax foresees “significant downward pressure” on the market.&nbsp; For buyers in Prime Central London, the key question is will the area continue to diverge from the wider UK market. There is not the same heat to come out of the market but that doesn’t make it immune to an economic downturn. The below table (CAN'T PUBLISH ON NEWSPAGE) illustrates how sold prices for flats and houses in Marylebone are both below 2017 levels – and that’s before factoring in real term losses due to inflation. We see more vulnerability in family neighbourhoods in Zone 2 and beyond such as Dulwich and Chiswick which have comfortably outperformed central London and won’t be supported by a weak £ to the same degree.&nbsp; 3. The Role of Due Diligence&nbsp; We recently previewed an opportunity for a client near Sloane Square. With a short lease and in need of a turnkey renovation it was far from a simple proposition. After consulting two leasehold valuation experts, a solicitor and contractors, we established extending the lease and a turnkey renovation would cost in excess of £850,000. Our clients, already busy with a major development elsewhere, decided the time and financial cost was too great and opted for a simpler option we had previewed earlier.&nbsp; On another search earlier this year, we made several preliminary inquiries about a lease before advising our clients to walk away.&nbsp; Such due diligence forms a significant part of our work. It mitigates the risk of a lender down valuation, or a solicitor or surveyor not recommending the purchase later. Since starting the we have had a fall through rate of less than 10% while estimates for the national average are 30%.&nbsp; &nbsp;<blockquote>Falling Sterling is not causing a stampede of overseas buyers to London. Some are happy with the discount but others are more concerned with the UK's economic and political instability. It is very much a double-edged sword.</blockquote>

Falling Sterling - Uncertain Implication for Central London Property 

Central London Buying Agent Boutique firm offering advisory services to private clients, family offices and trusts. Data driven perspective on the London property market to cut through the noise.

has been added

Media Pack / Portfolio

Alex Mosley

Media Coverage