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

Prime London Market Update: March 2021

In Q1 2020 London’s prime market was frantic. Following the general election and Brexit, new instructions in January 2020 rose 28% compared with the same month a year earlier and there were signs that we were building up to a busy spring. But, with the onset of a global pandemic, this was not to be. Instead, we saw new listings delayed and activity shift to the second half of 2020. Moving into 2021, new instructions fell 15% compared with January 2020 and were 22% lower than the previous five-year average (2015 to 2019) too.

With stock levels building in the latter part of 2020 there are still more homes on the market today than there were at the same point a year ago. At the end of January 2021, stock levels were up 42% on January last year, a small fall from the previous month when December saw a 51% annual increase in available properties. As well as fewer new instructions, properties going under offer dropped in January too. January 2021 saw 5% fewer properties go under offer than in January 2020. But the impact of a strong January market last year is at play here too. Indeed, the number of homes put under offer in January 2021 was higher than in January 2017, 2018 or 2019. Each of the last six months of 2020 recorded an annual increase in properties going under offer. These deals have now progressed to the point of exchange, which means we are beginning to see a rise in sales volumes. The number of homes sold in January 2021 was up 4% on January 2020 and 3% higher than the average number of January sales between 2015 and 2019.

Between November 2020 and January 2021, achieved prices rose 1.8% compared with the same period a year earlier. Taking January in isolation shows a similar increase, up 1.6% in January 2021 compared with January 2020. Houses continue to see higher annual increases in prices than flats. Flats sold between November 2020 and January 2021 saw achieved prices rise 0.4% compared with the same period a year earlier, this compares to a 5.2% increase for houses.

Between November 2020 and January 2021, achieved prices rose 1.8% compared with the same period a year earlier. Taking January in isolation shows a similar increase, up 1.6% in January 2021 compared with January 2020. Houses continue to see higher annual increases in prices than flats. Flats sold between November 2020 and January 2021 saw achieved prices rise 0.4% compared with the same period a year earlier, this compares to a 5.2% increase for houses.

However, with a more concrete view of when normality will return and the recently announced stamp duty extension, we expect there will be a steady increase for prime UK property which will cause property values to climb as we head towards the spring.

Prime London Market Update: March 2021

Budget 2021

What a difference a year makes. On Wednesday the Chancellor delivered his second Budget in a very different environment from last March, amidst the COVID-19 pandemic, an economy which shrank by 10% in 2020 (the biggest reduction in 300 years) and borrowing at its highest level outside of wartime. He drew a careful balance, announcing that it would

“be irresponsible to withdraw support too soon and irresponsible to allow borrowing to rise un-checked”.

Two key proposals, the extension of furlough arrangements and the Stamp Duty Land Tax holiday, had been pre-announced. Generally, he shied away from overt tax increases, preferring to raise money through a package of fiscal drag measures while accepting that his wish to achieve sustain-able public finances will have to wait. The speculation that Capital Gains Tax rates would increase in line with Income Tax did not materialise, although he did announce that Corporation Tax rates will rise in 2023. Fortunately, the Budget has provided continued financial support for many sectors and workers while not adding an additional burden of significant tax increases.

Budget 2021

Stamp Duty Land Tax Extension

As was widely trailed in the press, the Government has extended the temporary increase in the residential Stamp Duty Land Tax (“SDLT”) Nil Rate Band to £500,000 in England and Northern Ireland until 30 June 2021. From 1 July 2021, the Nil Rate Band will reduce to £250,000 until 30 September 2021 before returning to its ‘normal’ level of £125,000 on 1 October 2021. Note that, in most cases, the date of completion of the property purchase is the key date (although it can be earlier if a con-tract is ‘substantially performed’ before this date).

As was widely trailed in the press, the Government has extended the temporary increase in the residential Stamp Duty Land Tax (“SDLT”) Nil Rate Band to £500,000 in England and Northern Ireland until 30 June 2021. From 1 July 2021, the Nil Rate Band will reduce to £250,000 until 30 September 2021 before returning to its ‘normal’ level of £125,000 on 1 October 2021. Note that, in most cases, the date of completion of the property purchase is the key date (although it can be earlier if a con-tract is ‘substantially performed’ before this date).

The extension is also good news for funds and property companies investing in the build to rent or private rented sector. While the value of claiming ‘multiple dwellings relief’ has been eroded for those caught by the 3% higher rate on additional dwellings (and from 1 April 2021, those who will be caught by the new 2% non-resident surcharge), the extension of the ‘holiday’ will benefit many buyers, particularly those investing in purpose-built student accommodation and private rented accommodation with mixed-use elements.

Recently Sold:

Fifteen Portman Square, Marylebone W1H | £1,350,000

Jaffray Estates have just sold this best in class 6th floor 1 bedroom flat in an Art Deco block at a prime Marylebone address. A complicated sale including a simultaneous lease extension with The Portman Estate, a new tenant for the buyer, and of course lockdown – sold at asking price. We sold this flat for the first time 3 years ago, helped with the interior design with London interior designers 1.61 London , arranged the extension of the lease via our lease specialists Symington Elvery, and then sold it for the 2nd time!

Budget 2021

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 located next to Marble Arch and Hyde Park. Fursecroft has now completed an extensive programme of refurbishment in all the communal areas making this a very desirable option.

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 | £2,795,000

An exemplary apartment that has been reconfigured and 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 and bright lateral 2/3 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

Bryanston Mansions, York Street, Marylebone W1H | £2,395,000

A stunning newly refurbished 3 bedroom flat situated in an attractive red brick mansion block in the heart of Marylebone.

Bryanston Mansions, York Street, Marylebone W1H
Bryanston Mansions, York Street, Marylebone W1H
Bryanston Mansions, York Street, Marylebone W1H

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

A stunning 3 bedroom apartment for sale, located moments away from Selfridges and Oxford Street.

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

The Phoenix, Barrett Street, Marylebone W1U | £1,895,000 | Sole Agent

Jaffray Estates are proud to bring to market this two bedroom apartment for sale in a popular modern purpose-built block. The apartment is well laid out, offering decent living space and two good sized bedrooms. The Phoenix is a secure block complete with porterage and underground parking. The building is centrally located moments from Selfridges department store, Oxford Street and St Christopher’s Place.

The Phoenix, Barrett Street, Marylebone W1U
The Phoenix, Barrett Street, Marylebone W1U
The Phoenix, Barrett Street, Marylebone W1U

99 Baker Street, Marylebone W1U | £1,495,000 | Sole Agent

A contemporary 2 bedroom apartment for sale in a modern building ideally located on Baker Street.

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

One Seymour Street, Marylebone W1H | £1,300,000 | Sole Agent

A ‘best in class’ apartment for sale in this exclusive new development, with 24 hour concierge and 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 unmodernised 2 bedroom apartment on a 13 year lease; therefore cash buyers only.

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

Feature and Advertising Partners

Right Move
Prime Location
Khalij Times
Zoopla
International Buisness Times
The Sunday Times
Financial Times
Marylebone Journal
Inthemarket

Accreditation

The Property Ombudsman and Tradingstandards