Jaffray Estates

Prime London Market Update: December 2020

As we near the end of what has undoubtedly been a challenging year, London’s prime market has proven to be surprisingly resilient. Despite the challenges facing the market, with offices shut and overseas buyers grounded, prices are still 1% higher than they were a year ago and the number of vendors accepting offers on their homes continues to surpass 2019 levels. 2020 has been a difficult year for the lettings market too. Fewer prospective tenants and an increase in stock has meant landlords have had to be more competitive to secure the best tenants. But activity is increasing and the number of new lets this month suggests more tenants are returning to the market.

Continue reading “Prime London Market Update: December 2020” »

Latest London Property News: November 2020

Market Overview

People’s homes have become more of a haven than ever. Meaning that despite ongoing economic uncertainty, buyers continue to prioritise searching for a property capable of adapting to their changing needs. This continues to drive buyers and prospective vendors into the market, with the number of homes coming to market almost doubling on 2019 levels.

Continue reading “Latest London Property News: November 2020” »

Latest London Property News: July 2020

Market Update

The London property market appears to be steadily picking up amid the easing of the lockdown, seeing increasing demand with steady transactions and rents, especially after the government announced the relaxation of lockdown measures on May 28. As at June 15, a month after the market lockdown had been lifted, record levels of offers had been accepted, with the ratio between asking prices and achieved prices narrowing as traction returned to the market. Continue reading “Latest London Property News: July 2020” »

Latest London Property News: May 2020

Market & Covid-19 Update

As of yesterday, the real estate industry can resume work, with activities to include: viewing and valuing properties for sale, moving, visiting estate agency offices and developer show homes have been green lighted by the Government today – subject to stringent social distancing guidelines.

Since lockdown was imposed on the 23rd March, the property market entered a period of suspended animation. There is still a lack of clarity as to when lockdown will end, as well as the financial and economic collateral damage for the UK economy will be, Continue reading “Latest London Property News: May 2020” »

Latest London Property News - December 2019

Latest London Property News – January 2020

Latest London Property News - December 2019

Market News & General Election Result

As we are all aware, the prime London market has slowed down due to both political and economic uncertainty. The result has been a build-up of good quality buyer demand with very few properties currently available for sale. A significant number of sales were pending the election result. Some sales were substantial – a £65m house sale was reported in Central London to a European family and another house sale at £28m to an international Asian family in North London (both exchanged on Friday immediately after the election result) which demonstrates renewed buyer confidence in the market. Continue reading “Latest London Property News – January 2020” »

Latest London Property News – May 2019

Market Overview

We have seen a noticeable increase in buying interest over the past few weeks, as fears of political uncertainty and a Corbyn led government subside. Buyers are starting to take the view that the market has now factored in a ‘Brexit discount’, confirmed by an uptick in activity. As always, purchasers are sensitive to pricing, so fair market value pricing remains imperative, and if done correctly property will sell. On this basis, London property is attractive, and investors continue to buy.

Continue reading “Latest London Property News – May 2019” »
Latest London Property News – December 2018

Latest London Property News – December 2018

Latest London Property News – December 2018

Market Overview

The stagnant property market in London amid Brexit uncertainty continues to frustrate buyers and sellers this month as asking prices in the capital fell £11,275 to an average of £602,996. Yet while this 1.8% seasonal slip actually marks the smallest November to December

decline for five years, it’s not a sign of an improving outlook but rather a dramatic reduction of properties available to buy. Continue reading “Latest London Property News – December 2018” »

Latest London Property News – November 2018

Market Overview

The days of London house price rises hugely outpacing inflation in the UK is unlikely in the short or medium terms as Brexit uncertainty weights on the housing market, according to a new poll. Property values in the capital more than tripled in the last 20 years, but demand and turnover have crumbled since the June 2016 vote to leave the European Union and property taxes were raised, the latest Reuters poll says. Continue reading “Latest London Property News – November 2018” »

Latest London Property News – October 2018

Market Overview

The London market remains sluggish due to Brexit and political uncertainties and stamp duty changes. Sellers have cut the asking price of 37.9% of homes, up from 32.4% in April, property website Zoopla said. In the capital, 39.5% of property listings have been reduced in price – up from 34.6% in April. London has seen 45% of asking prices reduced – the most of any London borough, Kensington and Chelsea, home to some of the world’s Continue reading “Latest London Property News – October 2018” »

Latest London Property News – September 2018

Market Overview

House prices in London have been faltering of late, and experts have now revealed their views on how a “disorderly” Brexit could further impact the capital’s property market. A quarterly poll by Reuters of around 30 analysts and housing market experts has concluded that there could be a one in three chance of London’s housing market losing significant value by the end of next year if we end up with a “no-deal” Brexit. Continue reading “Latest London Property News – September 2018” »

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