Jaffray Estates

Established in 2014, Jaffray Estates is an independent residential estate agency based in Marylebone, central London. We provide three key services: sales, investment and private search, built through reputation and relationships. Whether buying or selling property, Jaffray Estates have the experience and market knowledge required to provide the highest level of results, acting exclusively for our clients at all times.

Central London Property Experts

Jaffray Estates is an independent estate agency established in 2014, specialising in the sale of residential property in Marylebone and Central London. Knowledge and invaluable experience enable us to provide an unrivalled level of service in our client’s interests at all times.

Latest Properties For Sale

Barrett Street, Marylebone, London W1U | £1,895,000

Regents Gate, St Edmunds Terrace, London NW8 | £1,400,000

Latest London Property News: May 2021

Market Overview

The run-up to the end of the stamp duty holiday on 31st March was always going to be a busy time for the housing market and prime London was no different. Encouraging news on the vaccine roll-out, together with a detailed roadmap out of lockdown resulted in a renewed confidence for London’s prime housing market and a surge in sales activity over the first quarter of the year.

It was the market below £1 million that saw the most significant annual increase in sales – unsurprising given this is where the biggest saving, as a proportion of total buying costs, was to be made. But the top end of the market did well too.

We anticipate the re-opening of London’s offices, restaurants, bars and theatres will all benefit the prime lettings market over the coming months. Stock levels, still high in a historic context, are falling back and new lets are also on the rise.

Latest London Property News: May 2021

Sales Market Insight

The first two months of 2021 saw relatively subdued levels of new instructions, with volumes listed for sale falling short of both the previous year and longer run five-year average between 2015 and 2019. Of course, at this point vendors thought the stamp duty holiday would be ending on 31st March and the possibility of their buyers, let alone them, being able to complete their purchase before the March 31st deadline was slim. But an extension, announced by the Chancellor in the Spring Budget, saw a further three month holiday alongside a tapering until September. This boosted market confidence, in addition to announcements on the vaccine rollout and roadmap which meant the UK looked set to emerge from lockdown too.

As a result, March saw new instructions rise, with 24% more properties listed than the March five-year average (2015 and 2019) and 72% more than 2020 levels, albeit that some of March 2020 was spent in lockdown. Looking at volumes quarterly the surge in new instructions in March cancelled out the falls in the first two months of the year. Overall, in Q1 2021 there were just 1% fewer new instructions than the long-term (2015-2019) Q1 average. Transaction volumes across prime areas of London rose significantly in Q1 2021 too. Sales were up 40% on Q1 2020 and 22% higher than the previous five-year average. Indeed, the number of sales in Q1 2021 was the highest for a first quarter since 2016, when investors were rushing to purchase before the introduction of new additional property stamp duty rates. A stamp duty deadline has impacted activity this quarter too, as buyers again raced to meet the old deadline of 31 March. The busiest market in the first quarter was the market below £1 million which saw a 52% annual increase in sales.

Yet this rush of activity appears to be about more than just stamp duty savings. The upper end of the market, where the saving accounts for only a small proportion of the overall price, was busy too, with 22% more sales at £5 million or more in the first quarter this year versus last and 41% more than the previous five-year average. Despite an increase in activity, buyers remain price sensitive. Achieved prices across prime areas of London fell. With PCL recording a 2.8% annual decrease followed by more modest falls of 1.9% in Prime London and 2.2% in prime fringe. Houses in both prime London and prime fringe recorded an annual increase in achieved prices this quarter. Looking ahead this increased momentum looks set to continue, with the number of properties put under offer suggesting we are in for a busy second quarter. Comparing the number of homes put under offer in Q1 2021 shows a 26% annual increase (27% higher than the 2015 to 2019 average), with the number of properties put under offer the highest first quarter figure since Q1 2014.

Q1 2021 Sales Report: Area Overviews

Here are the key findings for the quarterly sale figures compiled by London’s premier data source LonRes.

Marylebone & Medical Territory

Sold: Jan-Mar 2021

  • Average flat prices are now 10% lower they were 5 years ago, with buyers paying £153 less per square foot than they did 5 years ago.
  • Achieved prices per sqft have decreased by 12.1% for flats over the last year & have decreased by 12.7% for houses.
  • 10.3% of properties sold within 3 months, compared with 10.7% for the whole of Central London.
  • Properties sold in the last 3 months achieved an average price of £1,548,491 for flats & £4,443,750 for houses.

Current Availability

  • 45.8% of properties on the market are priced at £1 million or higher.
  • 64.8% of properties currently available have been on the market for more than 6 months.
  • 9.4% of flats & 9.1% of houses on the market are currently under offer.

Mayfair & St. James’s

Sold: Jan-Mar 2021

  • Average flat prices are now 1% lower they were 5 years ago, with buyers paying £22 less per sq ft than they did 5 years ago.
  • Achieved prices per sq ft have decreased by 9.9% for flats over the last year & have decreased by 0% for houses.
  • 5.6% of properties sold within 3 months, compared with 10.7% for the whole of Central London.
  • Properties sold in the last 3 months achieved an average price of £2,756,667 for flats & £0 for houses.

Current Availability

  • 73.8% of properties on the market are priced at £1 million or higher.
  • 75.6% of properties currently available have been on the market for more than 6 months.
  • 5.7% of flats & none of the houses on the market are currently under offer.

Knightsbridge & Belgravia

Sold: Jan-Mar 2021

  • Average flat prices are now 17.1% lower they were 5 years ago, with buyers paying £367 less per sq ft than they did 5 years ago.
  • Achieved prices per sq ft have decreased by 6.7% for flats over the last year & have decreased by 6.3% for houses.
  • 4.4% of properties sold within 3 months, compared with 10.7% for the whole of Central London.
  • Properties sold in the last 3 months achieved an average price of £2,746,250 for flats & £5,463,033 for houses.

Current Availability

  • 57.7% of properties on the market are priced at £1 million or higher.
  • 62.1% of properties currently available have been on the market for more than 6 months.
  • 11.8% of flats & 10.4% of houses on the market are currently under offer.

Chelsea

Sold: Jan-Mar 2021

  • Average flat prices are now 14.4% lower they were 5 years ago, with buyers paying £239 less per sq ft than they did 5 years ago.
  • Achieved prices per sq ft have increased by 9.9% for flats over the last year & have increased by 0.4% for houses.
  • 12.7% of properties sold within 3 months, compared with 10.7% for the whole of Central London.
  • Properties sold in the last 3 months achieved an average price of £1,231,492 for flats & £4,611,303 for houses.

Current Availability

  • 33.5% of properties on the market are priced at £1 million or higher.
  • 54.9% of properties currently available have been on the market for more than 6 months.
  • 14.1% of flats & 15.8% of houses on the market are currently under offer.

South Kensington

Sold: Jan-Mar 2021

  • Average flat prices are now 11.9% lower they were 5 years ago, with buyers paying £214 less per sq ft than they did 5 years ago.
  • Achieved prices per sq ft have decreased by 6.6% for flats over the last year & have decreased by 18.3% for houses.
  • 14.5% of properties sold within 3 months, compared with 10.7% for the whole of Central London.
  • Properties sold in the last 3 months achieved an average price of £1,587,556 for flats & £2,998,500 for houses.

Current Availability

  • 53.2% of properties on the market are priced at £1 million or higher.
  • 58.4% of properties currently available have been on the market for more than 6 months.
  • 12.2% of flats & 4.5% of houses on the market are currently under offer.

Kensington, Notting Hill & Holland Park

Sold: Jan-Mar 2021

  • Average flat prices are now 11.3% lower they were 5 years ago, with buyers paying £149 less per sq ft than they did 5 years ago.
  • Achieved prices per sq ft have decreased by 8.3% for flats over the last year & have increased by 13.9% for houses.
  • 10.8% of properties sold within 3 months, compared with 10.7% for the whole of Central London.
  • Properties sold in the last 3 months achieved an average price of £1,224,510 for flats & £4,869,147 for houses.

Current Availability

  • 28.5% of properties on the market are priced at £1 million or higher.
  • 45.1% of properties currently available have been on the market for more than 6 months.
  • 19.1% of flats & 18.8% of houses on the market are currently under offer.

Bayswater & Maida Vale

Sold: Jan-Mar 2021

  • Average flat prices are now 8.8% lower they were 5 years ago, with buyers paying £107 less per sq ft than they did 5 years ago.
  • Achieved prices per sq ft have decreased by 2.9% for flats over the last year & have decreased by 3.3% for houses.
  • 9.7% of properties sold within 3 months, compared with 10.7% for the whole of Central London.
  • Properties sold in the last 3 months achieved an average price of £991,509 for flats & £2,944,444 for houses.

Current Availability

  • 50.9% of properties on the market are priced at £1 million or higher.
  • 50.4% of properties currently available have been on the market for more than 6 months.
  • 16.6% of flats & 9% of houses on the market are currently under offer.

St John’s Wood, Regents Park & Camden

Sold: Jan-Mar 2021

  • Average flat prices are now 10.7% lower they were 5 years ago, with buyers paying £131 less per sq ft than they did 5 years ago.
  • Achieved prices per sq ft have increased by 3.3% for flats over the last year & have decreased by 3.7% for houses.
  • 16.7% of properties sold within 3 months, compared with 10.7% for the whole of Central London.
  • Properties sold in the last 3 months achieved an average price of £1,141,394 for flats & £3,643,231 for houses.

Current Availability

  • 28.6% of properties on the market are priced at £1 million or higher.
  • 49.4% of properties currently available have been on the market for more than 6 months.
  • 12.2% of flats & 13.0% of houses on the market are currently under offer.

New Instructions:

Nottingham Place, Marylebone W1U | £1,325,000

A charming 2 bedroom property, with it’s own private entrance, ideally located in the heart of Marylebone Village.

Nottingham Place, Marylebone W1U
Nottingham Place, Marylebone W1U

Ravensworth Road, Kensal Green NW10 | £950,000 | Sole Agent

Offering a rare opportunity to acquire this freehold Victorian terrace house in a quiet Kensal Green street with huge potential to extend & improve.

Ravensworth Road, Kensal Rise NW10
Ravensworth Road, Kensal Rise NW10
Ravensworth Road, Kensal Rise NW10

Current Properties For Sale:

Fursecroft, George Street, Marylebone W1H | £3,850,000

A newly refurbished family apartment with 4 en-suite bedrooms, in a secure 24-hour portered block in Marylebone, located next to Marble Arch & Hyde Park.

Fursecroft, George Street, Marylebone W1H | £3,850,000
Fursecroft, George Street, Marylebone W1H | £3,850,000
Fursecroft, George Street, Marylebone W1H | £3,850,000

Cadogan Place, Belgravia SW1X | £2,550,000

An exemplary apartment that has been reconfigured & refurbished to the highest standards. Beautiful high ceilings, period features & west facing garden views make this a ‘best in class’ property.

Cadogan Place, Belgravia SW1X
Cadogan Place, Belgravia SW1X
Cadogan Place, Belgravia SW1X

Montagu Square, Marylebone W1H | £2,480,000

An elegant & bright lateral 2 to 3 bedroom flat with beautiful garden views, located in one of Marylebone’s premier addresses.

Montagu Square, Marylebone W1H
Montagu Square, Marylebone W1H
Montagu Square, Marylebone W1H

Fifteen Portman Square, Marylebone W1H | £2,150,000 | Sole Agent

A 3 bedroom 3 bathroom apartment for sale in 15 Portman Square, with the benefit a long lease.

Fifteen Portman Square, Marylebone W1H
Fifteen Portman Square, Marylebone W1H
Fifteen Portman Square, Marylebone W1H

99 Baker Street, Marylebone W1U | £1,500,000 | Sole Agent

A modern apartment centrally located on Baker Street with Comfort Cooling & Porter.

99 Baker Street, Marylebone W1U
99 Baker Street, Marylebone W1U
99 Baker Street, Marylebone W1U

Regent’s Gate, St Edmund’s Terrace, Primrose Hill | £1,450,000 | Sole Agent

An impressive apartment situated in a new development with Secure Underground Parking, ideally located next to Primrose Hill, Regent’s Park & St John’s Wood High Street.

Regent’s Gate, St Edmund’s Terrace, Primrose Hill
Regent’s Gate, St Edmund’s Terrace, Primrose Hill
Regent’s Gate, St Edmund’s Terrace, Primrose Hill

One Seymour Street, Marylebone W1H | £1,395,000 | Sole Agent

A well proportioned apartment for sale in this exclusive new development, inc. 24 hr Concierge & Secure Underground Parking.

One Seymour Street, Marylebone W1H
One Seymour Street, Marylebone W1H
One Seymour Street, Marylebone W1H

Fifteen Portman Square, Marylebone W1H | £500,000 | Sole Agent

An opportunity to buy an unmodernised 2 bedroom apartment on a 13 year lease.

Baker Street, Marylebone, W1U
Baker Street, Marylebone, W1U
Baker Street, Marylebone, W1U

Hallam Street, Marylebone W1W | £450,000

A well laid out studio apartment for sale in an attractive Art Deco building in Hallam Street, ideally located close to Regent’s Park & Marylebone High Street.

Hallam Street, Marylebone W1W
Hallam Street, Marylebone W1W
Hallam Street, Marylebone W1W
Jaffray Estates

Contact Us

If you are currently trying to sell your property, or are considering selling in the near future, and would like some straightforward advice, then please contact Nicholas Jaffray by telephoning: 020 3091 9311 or via email at: Nicholas@Jaffray-Estates.co.uk.

Full details of all our current properties for sale can be found via the company website: www.Jaffray-Estates.co.uk/Property-For-Sale.

We hope you and your families are keeping well during these challenging times.


Feedback from our customers

testimoial border

' Me and my wife would like to thank Mr. Nicholas Jaffray for his precise work. He understands very well the requirements of the clients and does his best to meet their expectations '

Buyer,

George Street

' Just a few words to thank you for your professional efficient and competent high level of service throughout this transaction . From start to completion, your approach and conduct has been exceptional and your friendly and helpful manner has made it a pleasure working with you. '

Vendor,

Seymour Street

' Nick worked incredibly hard in order to achieve our sale in an extremely challenging market, to which we are very thankful. '

Vendor,

Portman Square

' My family and I want to put on record our appreciation for the professionalism you have shown during the purchase of our flat. You provided us with impeccable service with utmost integrity and guided us with insightful and swift advice during the entire process and made the whole experience memorable for us. '

Buyer,

Baker Street

' My wife and I want to thank you for your utter professionalism regarding the sale of our flat. You acted with the utmost integrity and gave us so much confidence. We had experienced very poor services from other property professionals and that meeting with you our faith was restored in your profession. '

Vendor,

Portman Square

For more information, advice or just a conversation contact us today on 020 3091 9311

Contact Us

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