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Latest London Property News – January 2018

Formally Palmstar, Jaffray Estates is the new trading name for the company. Nothing has changed other than the name, all business is still run by Nicholas Jaffray as before. We hope you like the newly upgraded website which you can see here: www.jaffray-estates.co.uk.

Market Overview

Market uncertainty is likely to continue through 2018, with pricing again being key. There are still some very impressive prices being achieved for trophy properties but many vendors are still having to adjust their asking prices to attract a buyer due to eye watering stamp duty rates and Brexit uncertainty as before. It has been reported that prime central London’s neighbourhoods have been reduced in price by an average of 9%. This is particularly common in the £5m plus range where discounts are being seen of between 10 or 20%.

As always with the prime market there few people needing to buy and sell – transactions levels are suffering with the number of homes changing hands in December falling to 99,100, which is the lowest level since November 2016, according to data published by HM Revenues and Customs. One would expect that as the Brexit deadline for negotiations in 2019 draws closer that we will be in a clearer picture which will in turn slowly improve sentiment.

Review

Given the above mentioned state of the market, Jaffray estates had an excellent year transacting on a number of deals in prime central London, primarily in Marylebone. In Portman Square alone, we sold 3 properties in 2017. Looking back, the properties sold last year, had 2 key elements in common: excellent locations and correct pricing. If you would like to sell your property this year, then having an accurate correct valuation is more important than ever. If you live in a sought-after address, then there will be a buyer if priced correctly.

Nicholas Jaffray has over 10 years’ experience in the Marylebone market, which is crucial in terms of knowledge and access to recently achieved prices. Secondly, we provide our clients with the upmost chance of selling through extensive advertising on line as well as our new campaign for 2018 in the Marylebone Journal.

For more information, or just an informal conversation, contact Nicholas Jaffray on 020 3475 1745 or at: nicholas@jaffray-estates.co.uk.

Two Excellent Central London Pied de Terres

Jaffray estates currently have two apartments for sale in portered buildings located in prime locations moments away from Selfridges, Marble Arch and Hyde Park.

Wigmore Street – Guide Price: £1,000,000 (Off Market)

A smart 2 bedroom apartment situated in a small portered building with resident porterage. The property also makes an ideal rental investment and benefits form bright southerly views over Wigmore Street.

Telephone 020 3091 9311 for more information

Portman Square – Asking Price: £1,395,000

An excellent 1 to 2 bedroom apartment situated on a middle floor in an extremely popular 24 hour portered building. The apartment benefits from a quiet outlook to the rear and a long lease.

Telephone Click here for full details here

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