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July 15, 2016

Three weeks on: how the London market has reacted to the EU Referendum vote

Filed under: Latest News — Tags: , , , , , — JSS London @ 3:05 pm

Ref graphicOur London Research Department assesses the reaction within the property market following the vote to leave the European Union, as at 15th July 2016.

The result of the Referendum was announced three weeks ago and although it is too early to gauge any marked trend in the property market, the immediate response evidenced by our offices appears relatively moderate.

Caution among buyers, sellers and EU tenants stemming from the uncertain economic and political position of withdrawing from the EU, which was very obvious in the months leading up to the vote, still resonates in the Press. However, looking at new demand for residential property from applicants registering their interest in buying or renting across our London offices, we have not detected any notable downturn in demand following 23 June.

The graph below shows the weekly average for the past three months of applicant registrations including the three week period following the Referendum.

main graph - JSS

 

 

 

 

 

 

 

 

 

 

 

Among our London network of offices, there has been no significant fall in demand in the sales market which is relatively stable, just below its three month average. Demand for rental property started to gain momentum in the weeks leading up to the vote and has continued to increase since 23rd June.

The Sales Market

To help gauge pressure on house prices, we compare the proportion of those new entrants into the market registering interest to buy against those interested in selling. Our offices have seen a fairly steady ratio of three applicants to every seller over the past six months.

sales ratio - jss

 

 

 

 

 

 

 

 

 

 

 

However, despite relatively steady demand, transaction numbers have fallen and the market is likely to see a continuation of the lower number of sales across London in 2016 compared with last year. That has and will continue to be most pronounced at the high end, which has a greater degree of price sensitivity with the market still adjusting to the Stamp Duty reforms. In the prime central regions where overseas demand is more significant, the value of the Pound Sterling has made buying UK property cheaper. For example, for the Indian Rupee or the United States Dollar, the Pound is currently 13% lower than on the day of the Referendum. This ‘discount’ should attract investors and those looking to buy in London, especially those holding a medium to long term view. Despite the uncertainty over the future of Britain’s trading position, London is still likely to retain its ‘safe haven’ status. It is seen as one of the world’s leading Capital cities where its history, diverse architecture, quality of life and overall appeal to the international community is unique. Significantly, London’s resilience to previous major economic downturns has been proven.

In the lower value and peripheral areas of London where demand for housing is more heavily influenced by mortgage markets, the fact that the base interest rate has just been held at its record low of 0.5% and may be reduced in due course will support buyers’ ability to purchase. This bodes well for those re-mortgaging or new entrants to the housing market. Lenders may be rigid in passing on lower rates and still be strict on loan to value ratios but the historic low cost of borrowing will continue to underwrite demand and thus support prices.

However, what we are likely to see in London is greater price sensitivity and thus lower capital growth. In May, the Chancellor suggested that property values in the UK could be 10-18% under their expected trend by mid-2018 because of a short term economic shock following our withdrawal from EU membership. London is arguably most at risk due to being the least affordable region in the UK but the very constrained supply, low interest rates and our Capital’s institutional factors will help support prices. The Nationwide House Prices Index recorded London prices had grown 10% in the 12 months to July 2016. Therefore even with a fall in demand, it would need to be significant to stop annualised capital growth.

We have seen certain purchasers seeking to take advantage of the uncertainty by making offers well below asking prices and some vendors have agreed to discounts. However, we have also seen some record and full asking prices achieved which indicates that some purchasers are taking a longer term view over the value of properties they are purchasing.

The Lettings Market

Not unsurprisingly the lettings market has shown greater resilience than the sales market to the uncertainty leading up to the Referendum and continues to do so. On average, we have witnessed an increase in activity for those looking to rent a property. Comparing the ratio of prospective tenants to landlords, there has been some variation over the past six months but in the last three months there have been progressively more tenants seeking rented property across our London network. However this does mask some regional variations where those offices more reliant on European and corporate tenants have not seen such resilience.

lettings ratio - jss

 

 

 

 

 

 

 

 

 

 

 

Summary

Although both sales and rental demand appear to be stable following the vote to leave, Britain has not begun the negotiations of withdrawing from the EU and until the mechanics of re-establishing our trading positions have taken hold we will not know the extent of any adverse consequences. However we now have greater political stability with the rapid succession of our new Prime Minister and the swift appointment of a new Cabinet. The FTSE 350, which is more representative of British commerce, is at a higher level than before the Referendum as is the FTSE 100. The Bank of England is strategically ready to counter any downturn in economic activity through quantitative easing, relaxing commercial lending criteria and reducing the base interest rate. The Treasury may also implement fiscal measures such as reducing corporation tax to encourage more investment. The new Chancellor has already announced that he will aim to ‘scale back austerity’ and has pledged to ‘protect the City’. This improved political and economic position will encourage greater confidence and should help support prices.

Rob JSSS issue - CroppedRobert Butterworth
Head of London Research Department
robertbutterworth@jackson-stops.com

Disclaimer: Any figures, commentary and opinion published in this report is for general information only and in no way intended as financial advice and should not be relied upon in any way. Jackson-Stops & Staff assumes no responsibility for any loss from the use of any material in this report.

July 13, 2016

The Lure of London and Super Surrey

Filed under: Latest News — Tags: , , , , , , — JSS London @ 3:11 pm

Tim Firth BW

Tim Firth, Director Weybridge Sales

Tim Firth, Director of Sales for Jackson-Stops & Staff’s Weybridge branch, comments:

  1. What sort of person makes this return to London – is it all about empty nesters, early retirees, or younger people just fed up of being away from London and sitting on the drain? Who are the archetypal returners?

Over the past six months we have noticed a real increase in the number of retirees and grandparents in particular that are moving back to the London suburbs. They are looking to downsize and favour locations such as Wimbledon and Battersea, which are still very residential but close enough to the city to offer easy access to all amenities.

  1. What are the key reasons they want to move back to London? What do they tell you about why they feel they’ve had enough of the Home counties and commuting?

The primary reason for the move among this demographic is to look after grandchildren. Very often, there is real comfort is moving to be closer to their family, particularly if a partner has passed away and they are now living alone. For the younger family, with childcare costs in London at such high levels, this is often a great solution which ensures that the grandparent is now a closer part of the family unit.

  1. What sort of property are they typically selling – a large country house, family home in a town, flat …

Typically, they are moving from large family homes they have lived in for around 20 years.

  1.  What sort of property do they want to buy? And why?

They now want to live in relatively spacious, modern lateral apartments, which also benefit from great views. Something that is low maintenance but which appeals to their lifestyle is key.

  1. What locations do they seem to prefer, and why?        

Their preference appears to be prime South West London, which is generally where their children live. This area also offers fantastic housing stock and is well served by transport links so it is often a relatively easy decision on where to locate themselves.

  1. If I assume that most will end up with smaller properties is this simply because the equity they have won’t stretch as far in London? Or is it a positive choice to have a lower maintenance, cheaper to run home? Or a bit of both?

In our experience, they often want to move to smaller properties not only because they are more manageable but chiefly for future financial planning. Smaller properties cost less which frees up capital, ensuring that they have enough equity later on in life. At present, it is usual to purchase at around 50% of the value in which they are selling.

  1. Do you think this sort of mover is increasing/decreasing? and if so, why.

The migration of retirees back to London is certainly increasing as grandparents play a more important role in their grandchildren’s lives. In addition, increases to house prices over the past few decades means that many are now relatively cash rich if they sell so there is an appeal to moving back to London and being able to enjoy all of the cultural amenities available.

Tim can be contacted on 01932 821160 in our Weybridge branch for more information

July 8, 2016

A Word from Catherine Hanley

Filed under: Latest News — Tags: , , , — JSS London @ 10:59 am

Catherine Hanley Colour

Catherine Hanley, Lettings Manager

Catherine Hanley, our Lettings Manager in Holland Park, tells us about her month:

What has been the most challenging aspect of your month?
Obviously we have to mention the Brexit! Prior to the vote, a number of our Landlords were asking about how the market would be affected if we stayed in or left the EU, and there was a palpable sense of nervousness. However, despite all the uncertainty we have had one of our busiest months ever and have agreed a large number of lets. Many of these have been agreed at asking price, with new Tenants moving in quickly, thus avoiding lengthy void periods for the Landlord.

What has been the most surprising thing to happen to you?
I went to value a property recently with a colleague of mine. I was asked by the Landlord whether I had any objections to birds, as they had a parrot; as an animal lover, I had no issue at all, but that was until I realised that the parrot in question was quite vocal. Instead of coming out with the usual ‘pretty Polly’ phrases, it had learnt much more colourful language (more colourful than the parrot itself) that left both my colleague and me blushing.

What has been the most unusual question or request you’ve received from a client?
We had an applicant register recently who wanted to rent a property which would cater for their extensive wine collection – 1,002 bottles to be precise!

Do get in touch with Catherine to discuss your own letting or renting requirements, she would be delighted to help.

June 15, 2016

When to market your property…..

Filed under: Latest News — Tags: , , — JSS London @ 11:00 am

Property sells throughout the year and not always when you expect. I often have discussions with home owners as to the best time to bring a property to the market, is there one? The key to all house sales, whoever you are selling to, is to make sure your property is presented to the full spectrum of buyers looking at that particular time.

board-928378_1920There are three times of the year when new applicant registrations go up noticeably, these are after the major school holidays and once a new school term has settled into its routine. So late January, after Easter and mid September and statistically these spikes of activity last for a couple of months. However these are also the times when most property comes to the market so the supply and demand equation does not necessarily work in your favour.

Many property sellers ‘want to wait until the Spring when the garden looks it best’ – what should be remembered is that so does everyone else’s and buyers have more choice at that time of year.

On the flip side, launching your property in the middle of August or middle of December can ruin the initial flurry of activity but there will still be a few ‘possibly perfect’ buyers looking.

In summary then there is no perfect time so long as you sell when you want to not when you need to.  Tim Firth, Weybridge Sales, timfirth@jackson-stops.com 01932 821160

November 18, 2015

Making the “Rightmove” in December

Filed under: Latest News — Tags: , , , — JSS London @ 12:31 pm

RED HOUSEAs the end of 2015 approaches, our Jackson-Stops & Staff offices across London and Surrey are reflecting upon another successful year. But the year is not over yet…in fact, December could be the very best time of year to market your property and here’s why:

Internet activity increases dramatically over the festive period – on Christmas Day in 2014 there were almost 14,000,000* page views on property portal Rightmove, with over 10,000 people taking time out from the festivities to email agents.

Boxing Day was even busier, with page views jumping to over 25,000,000*, up 21% on 2012 levels. Total views peaked on New Year’s Day, with over 38,000,000* page views.

Those who unwrapped new smartphones or tablets at Christmas were eager to begin house hunting, too – there were over 26,000* downloads of the Rightmove app across the various platforms between Christmas Eve and Boxing Day alone.

So, if you are thinking of making your move in the New Year, then this side of the festive season could be an excellent time to begin marketing your property. And if the thought of preparing to Sell or Let your home appears daunting at this busy time of year, we can discuss ways of running a tailored campaign to launch your property with viewings beginning in 2016.

Please do not hesitate to contact your local office to discuss how we can be of service.

Jackson-Stops & Staff
December 2015

*Source: Rightmove research

September 16, 2015

“Touch” Down for the Jackson-Stoppers

Filed under: Latest News — Tags: , , , , , , — JSS London @ 8:02 am

Ahead of the Rugby World Cup touching down on Friday, we were delighted to attend this weekend’s ‘Festival of Rugby’ event held by Teddington Rugby Club, in our capacity as proud sponsors of the Minis section. The day was an excellent opportunity to watch the Minis in action, meet hundreds of families from the local community and to run some fun events for the children, including face painting, colouring, ‘guess the price of the house,’ candy floss and a lucky dip, which raised over £200 for the Minis and their club. In addition, staff from various offices across our London network joined forces to play as the ‘Jackson-Stoppers’ in the festival’s Touch Rugby tournament and did us all proud!

Go the Minis!

Rugby Festival-9774

 

 

 

 

 

 

September 15, 2015

‘A Word From’ our International Department, Annabel Smith

Filed under: Latest News — Tags: , , , , , — JSS London @ 10:27 am

Annabel Smith BWJackson-Stops & Staff International is the UK’s premier Italian property specialist, operating in 16 of the 20 regions, and probably has the broadest portfolio of Italian properties in the UK.

 

This wide ranging and exciting portfolio is backed by specialist knowledge of, and a close relationship with, all aspects of the Italian property market.

We promote over 1000 properties and have access to many more through a network of over 30 Associations across the country.

We also have a fantastic property portfolio for Spain, Portugal and the Caribbean.

 

With the Pound strong against the Euro, we have seen a huge increase in enquiries for our European properties this year, which is also reflected in our increase in sales for 2015 so far. Interestingly, the majority of our buyers are looking in Italy – they love the variety the country has to offer across its 20 regions, and are buying into the wonderful lifestyle they can enjoy there.

 

Another location to keep an eye on is Sotogrande in Spain, it seems to be ‘kicking off’ and many are getting wind of this. During my recent visit to the area last month, I could see the potential and fell in love with the location instantly…anybody who loves golf or polo cannot fail to love it too!

 

I thoroughly enjoy running the International Department, and delight in helping others to find their ideal holiday home, or retirement property in the sun!

September 4, 2015

Important new requirement on landlords to install smoke and carbon monoxide alarms

Filed under: Latest News — Tags: , , , — JSS London @ 10:38 am

match-631729_1280We all know that we should have working smoke alarms in our homes. Yet even when you find out that you are four times more likely to die without a smoke alarm than with one and around 200 people die in house fires every year, it is one of those chores it is easy to keep putting off.

But soon landlords will no longer have the option to ‘overlook’ this safety necessity. From 1 October this year, landlords will be legally required to install and check smoke and carbon monoxide alarms in their properties.

The law will apply to landlords renting residential accommodation to one or more tenants who occupy the property as their home.

The key requirements are:

  1. A smoke alarm must be fitted on every floor of the property where there is a room used wholly or partly as living accommodation.
  2. A carbon monoxide alarm must be placed in any room where solid fuel is burnt, such as wood, coal or biomass. This includes open fires but does not include gas, oil or LPG.
  3. Landlords will have to make sure the alarms work at the start of every tenancy, for example by pressing the test button until the alarm sounds.
  4. Landlords are also required to demonstrate that the alarms are working at the start of the tenancy. To prove this, we will advise landlords to get a receipt signed by the tenant confirming that the smoke and carbon monoxide alarms are working. Alternatively, it should be added to the inventory signed by the tenant at check-in.

A few things to note:

  1. A bathroom or toilet is classed as a room used for living accommodation.
  2. A ‘room’ includes a hall or landing, and stairways also fall within the regulations. So, if you have a flat above a shop but you enter through stairs on the ground floor, a smoke alarm will be required in the stairway.

The new rules will be enforced by local authorities who will have the right to impose a fixed penalty charge (like a parking ticket) of up to £5,000 on landlords who do not comply.

If you have any queries about the new rules or would like to find out about Jackson-Stops & Staff’s property management services, please call Simon Quinn on 020 8879 1199 or email simonquinn@jackson-stops.com

July 31, 2015

‘A Word From’ our Chelsea Sales Manager, Charles Puxley

Filed under: Latest News — Tags: , , , , , — JSS London @ 3:04 pm

Charles Puxley BWLife in Chelsea has been busy since the events of the general election in May; however, the expected return of confidence has not yet materialised fully and asking prices have largely remained at the same, steady levels since May. In terms of the sales enquiries we receive at our office in Chelsea, we are finding that a large proportion of potential purchasers tend to be investors from overseas and UK developers. As a consequence of this demographic shift and in order to satisfy the demand of these purchasers we are expanding the area in which we operate. Recently, we brought to the market a large house in York Terrace East, just off Regents Park at £8,750,000, and were able find the right buyer within a short timescale.

 

Our local residents return from their traditional long August break in time for the busy September market and we are looking forward to being of service to them during that time. For a no obligation market appraisal or any advice on selling, please do get in touch or pop in to see me.

 

July 16, 2015

‘A Word From’ our Wimbledon Sales Manager, Stuart Mills:

Stuart Mills BWWith another wonderful Wimbledon Tennis championship now over, the Village returns to normal – well, Summer normal, at least. Private schools have already broken up for the holidays and the local state schools will be doing the same later this week. In terms of property, this will no doubt signal the start of a cooling of the pace within the market whilst many families enjoy sunnier climes during this period. However, period properties in particular continue to sell over the summer period and it can be a good time to buy, as there may be less competition from other buyers. Do make sure you are in regular contact with us as we frequently hold properties discreetly which may not be advertised on the open market, so relying on the internet alone could mean that you lose out.

2015 has proven to be an interesting year for the market so far. The earlier months prior to the election felt slightly jittery, with talk of mansion taxes and the prospect of a Labour government’s changing housing policies. With a convincing win for the Conservatives, it was widely predicted within the industry that the market would take off immediately. In fact, this has not proven to be the case. The market has no doubt benefitted from knowing the outcome but I think that many buyers perhaps feel they have time on their side and are therefore not rushing to make that purchase. Mortgage rates remain historically low, and with the real shortage of homes in the UK, it is in some ways rather perplexing as to why sales remain at a lower point than might be expected. This is very likely to mean that with growing, pent-up demand we will see a surge in the market, possibly not necessarily in prices but certainly in the number of sales completed.

All this means that if you are considering selling then now is a great time to get any minor works done to your property and then arrange for Jackson-Stops to give you an up-to-date market appraisal, in readiness for the Autumn market.

Some properties within our patch have been on the market for some time. If this rings true with your own home it can often be beneficial to have a reappraisal. I was looking at properties online recently and was amazed by how many still had Spring images of their garden showing…no leaves on the trees is big give away and makes you wonder how much care and attention is being given by the agent. Of course, being realistic about your own property’s value can, quite simply, mean that the move you want to make does indeed happen. We have been very successful in selling properties that have been on the market for some time with other agents; bringing enthusiasm, experience and a fresh pair of eyes to a property really can make all the difference.

My team and I would be delighted to offer advice to you, whether you are looking to sell, buy, let or rent. We are here in the Village to help in any way we can – do make that move.

July 2, 2015

‘A Word From’ our Mayfair Sales Manager, Nicholas Austin:

Filed under: Latest News — Tags: , , , , , , — JSS London @ 3:39 pm

Nick Austin BW

Well, celebrity homes seem to be the latest trend in our Mayfair office at the moment, having taken on two lovely properties recently with celebrity connections.  We are currently marketing a wonderful three bedroom apartment just behind Grosvenor Square that was once owned by Christina Onassis. Christina was the daughter of the shipping tycoon Aristotle Onassis, who married Jackie Kennedy in 1968 following the untimely death of her husband, President John F Kennedy. Christina lived in the apartment during the 1970’s and 1980’s up till her death in Argentina in 1988, and her parents were regular visitors. Apart from being a fabulous apartment, the property also comes with an added, extremely rare gem in Mayfair, a wonderful roof garden measuring approximately 930 sq ft.  If you are looking instead for a freehold, we also have a fantastic mews house that was once the home of champion racing driver, Stirling Moss.  The house is a technical whizz’s dream, as everything can be controlled from your iPad and also comes with its own private cinema. If you are hoping to bump into Stirling himself then this is the house for you; when he sold it, he simply moved next door to a property with a larger garage.  Mayfair is steeped in a rich history and has many secrets still to uncover.  Properties with the blue plaque factor always receive a huge amount of interest from buyers.  If you would like any more information on these properties, or indeed on Mayfair in general, then please do pop in and see me at 17 Curzon Street, I would be delighted to meet you.       

June 29, 2015

‘A Word From’ our Weybridge Lettings Manager, Camilla Trussler:

Camilla Trussler BWWe enjoy a strong presence throughout Elmbridge, with our established team operating out of our Surrey flagship office located on Queens Road in Weybridge. This beautiful area caters for all tastes, with Victorian properties nestled within walking distance of the High Streets, as well as properties on a larger scale; these range from completely refurbished, Grade II listed buildings sitting in acreage through to new-build mansions located on dramatic plots within private estates such as St George’s Hill in Weybridge.

With the many private estates in the area (including St George’s Hill in Weybridge, Burwood Park in Walton, Crowne Estate in Oxshott and Fairmile Park in Cobham), the executive and elusive are attracted to the area for the element of seclusion and privacy it provides. We have a number of famous footballers and ‘wags,’ rugby stars, tennis champs, girl band members and established rock stars; we have TV personalities young and old, as well as world famous stars of the screen. We also have some movers and shakers from the political world choosing to base themselves here…and if high flyers of the executive world are of interest, we also have owners of diamond mines living in St George’s Hill.

Another pull is the wealth of educational opportunities provided in the area. We have some of the best performing schools in the country and, of course, three of the best international schools (Tasis, ACS and ISL) all located in the locality. This is a major draw for anyone who travels the world and wishes to provide their children with a top class education. The schools remain a driving force for people looking in the areas we cover and over the last few weeks we have seen increased activity from relocation agents hired by the corporate companies moving families from overseas to make the most of the education provided within the area.

The area caters for the demands of professional individuals and couples alike, especially those who travel the world frequently, either for business or pleasure. Elmbridge provides an easy loop onto the A3 and access onto the M25. When in Weybridge, you are less than twenty miles from Mayfair (useful if popping to Harrods for a spot of shopping, or perhaps The Ritz for a spot of afternoon tea) and on a fast train it can take as little as 25 minutes from Weybridge into London Waterloo. Saying this, there is plenty of opportunity for retail therapy right her on the doorstep, with Cobham and Weybridge both offering boutique shopping that caters for all tastes.

The area also provides easy access to some truly stunning countryside, whether that be for a stroll in the gardens of Wisley, or taking tea in the grounds of Painshill Park in Cobham; the expanse of the Surrey Hills is just a few minutes away, an easy drive down the A3.

In the last few months we have noticed that a number of our tenants currently in occupation are deciding to renew and stay where they are, rather than incur the cost of moving. The knock-on effect of this trend is that there is a limited amount of property available on the market within the rental sector, so demand is high. If you are considering renting out your property, please do contact me or any member of my Jackson-Stops & Staff Weybridge lettings team, on 01932 859355 or weybridge@jackson-stops.com; we would be delighted to hear from you.

June 12, 2015

Grow, Inspire and Feast

The end of this month sees the start of the spectacular Hampton Court Flower Show and this year’s theme is Grow, Inspire and Feast.

If you can’t wait until then and are looking for some local inspiration for this weekend instead, Sunday the 14th June is when ‘Teddington in Flower’ bursts into bloom, when a number of stunning local gardens will be on display.

Some of Teddington’s most green fingered residents are throwing open their garden gates to the public, with gardens on Elmfield Avenue, Teddington Park and Udney Park Road available to visit during this time.

We at Jackson-Stops & Staff are proud to present to the market a selection of properties with gardens which allow you to grow, inspire and feast on your produce or enjoy your floral successes…

…from a modernistic contemporary house on Langham Road

Langham Road

Langham Road

 

 

 

 

 

 

 

 

…to a quaint Victorian Cottage on Watts Lane

Watts Lane

Watts Lane

 

 

 

 

 

 

 

 

 

People Property Places

 

…or a modern apartment overlooking Bushy Park with a large balcony.

Whether you are looking to buy, rent or invest we have the property for you, the people to support and advise you in the process and the places for you to enjoy.

 

 

June 11, 2015

Latest Findings from JSS London Research

Filed under: Latest News — Tags: , , , , , , , — JSS London @ 12:27 pm

Average prices in London are continuing to grow strongly. All but four boroughs experienced double digit annual price increases according to the latest Land Registry data published (up to May 2015). The lowest annual change in price growth was recorded in Kensington and Chelsea (4.4%) and Westminster (6.4%) among all London boroughs (10.9%). Higher taxes levied, interfering most with the top end property market (stamp duty, capital gains and ATED), along with concern over the election, has undoubtedly been the main reason behind prime London slowing down.

 

The majority Conservative government means that no mansion tax or major reform of the lettings market will be implemented. Their handling and plan for the economy is also potentially the most conducive to economic growth. There were expectations of a marked increase in demand after the election; however, this has not been the case, although an Autumn pick-up is now anticipated. The higher taxes, consistent price growth seen over the last five years, as well as more stringent lending restrictions, have all affected demand. This is a permanent trend and will likely prevent the prime boroughs returning to double digit growth for a while. These are natural economic suppressors on demand and potentially healthy in helping the market slow down to avoid unsustainable price inflation.

 

For the first time since the financial crisis, we are seeing outer boroughs of London outperform prime central areas as a consistent trend. Pure equity (cash funding), resilience to economic troubles and better sentiment among centrally orientated buyers, particularly from abroad, saw strong demand fuel price growth in London’s prime boroughs. However we now see that the comparative value in peripheral markets coupled with a resurgence in domestic demand has fuelled these non-central boroughs to rise disproportionally.

 

Looking forward, better economic performance (with consumer and business sentiment increasing, rising real earnings and low interest rates) will raise activity both among borrowers and lenders, spurring more transactions in the market. Market commentators are estimating prime central prices to rise approximately 20-25% to the end of 2019, therefore continued growth is predicted (although not as in the last few years when this would have occurred in just 12 months). Having just overcome a major degree of uncertainty among buyers and sellers, we will now see the EU membership referendum (potentially having significant implications for London) and mayoral elections influencing on demand over the next two years. However the UK and housing market’s economic fundamentals remain strong, paving the way for continued growth.

 

Image 1

Source: Land Registry/JSS Research

Rentals

 

Rental growth is being recorded by all major price indices. Supply and demand has been affected by the election, with some postponing a decision to let and some sales applicants deciding to rent for the interim. The RICS reports that in a three month period up until May, both rental demand and new instructions increased with price expectations positive going forward. Supply has been reported to have risen steadily for the last three years, potentially slowing price growth but more positively allowing for increased activity. Looking at the drivers of demand, one major aspect – employment in the service sector, in particular the finance sector, is improving. Rental yields have risen slightly, with capital growth in central London slowing.

 

June 9, 2015

Opening New Doors

Filed under: Latest News — Tags: , , , , — JSS London @ 8:49 am

Door

Teddington High Street has a new arrival in the shape of Jack Brunsdon, the first London showroom of the bespoke Door and Window company offering handcrafted doors and windows for the discerning customer.

 

Jackson-Stops & Staff is one of the leading Estate Agents in Teddington, opening many new doors to vendors, landlords, tenants and buyers throughout different stages of their lives. We offer an extensive range of properties to buy or to rent…our doors are always open, please do come in to discuss your own requirements with us, we would be delighted to see you.

 

 

June 3, 2015

A word from Russell Gooden

Filed under: Latest News — Tags: , , , — JSS London @ 2:06 pm

Russell Gooden BWIn true, typical Teddington style the market here has once again shown its resilience. The outcome of the General Election appears to have bolstered the market further and it’s been very much business as usual here in our High Street office. New properties, or a lack of them, is the only fly in the ointment as we continue to see a reduction in fresh stock coming to the market. Having said that, the buyers we have registered are highly motivated and the offer levels we are receiving tend to be very encouraging. It seems that many buyers see this as a good time to move forward and secure their next property. If you are still sitting on the fence as a seller you could well find this an ideal time to capitalise on the renewed interest from buyers – and if you were to sell at the moment the chances are that there wouldn’t be many competing properties, which could well result in you achieving a strong price. Finally, you should consider the sort of exposure you would like for your property. In our experience, the wider the market place you expose your home to the stronger the offer will be, it’s all about marketing to the widest audience possible. That said, we understand completely that some clients choose to market their home on a more discreet, ‘below the radar’ basis and we have achieved excellent results in this way, too. Do get in touch if you would like to discuss how we do things, we would be delighted to hear from you.  Russell Gooden – russellgooden@jackson-stops.com 0208 943 9777

May 29, 2015

A word from Emma Mills

Filed under: Latest News — Tags: , , , , — JSS London @ 2:23 pm

Emma Mills BWThe property news is full of comment about Prime Central London rents increasing at a huge rate, but the reality is that there has been more of a steady, level movement across the market in the past few months. May has been busy, however, and our Chelsea Lettings office on Cadogan Street has seen increased numbers of tenants deciding to move, perhaps as a consequence of the General Election and people now deciding to forge ahead with their plans.

 

We find that the majority of those on the move are relocating to different areas of London or further afield across the UK, rather than upsizing or downsizing within Chelsea itself, which makes room for the newcomers to London. Chelsea remains a popular area with tenants at all levels of the market, from students looking for a convenient studio flat for their studies through to families wishing to take advantage of the many well-regarded schools in the vicinity.

 

My advice for Landlords would be to ensure that properties are in tip-top condition, to the extent of having the decorator ready to go and work their magic as soon as the property becomes vacant, in order to try and reduce any void periods.

May 20, 2015

A word from Harry Buchanan

Filed under: Latest News — Tags: , , — JSS London @ 4:07 pm

Harry Buchanan BW

Here in Pimlico we have seen a positive start to 2015 and more recently April and the new financial year. With the outcome of the general election now finalised it is still too early for us to draw any immediate conclusions on its effect, but I would comment that top end stock continues to see a reduction in interest – that said, for many buyers there is a logic in that when others pause to draw breath it is precisely the time to push forward and snap up a perfect property. Our tips for sellers would include advising them to get everything ready in terms of documentation…there is nothing worse than losing a buyer due to not being ready to move in time; if you need to sell in order to buy it is so important to find a buyer first in order to be chain free; finally, take pride in your presentation – first impressions count!

For a free, no obligation, market appraisal in SW1 please do call Harry Buchanan at Jackson-Stops, 020 7828 4050, harrybuchanan@jackson-stops.com

 

 

 

 

May 8, 2015

“The clouds over the London property market have now dispersed” – Nick Leeming on today’s Election results

Filed under: Latest News — Tags: , , , , — JSS London @ 6:42 pm

Nick Leeming, Chairman of national estate agents Jackson-Stops & Staff, with 44 offices nationwide, comments on today’s Election results:

“With the Conservatives looking set to win the majority, the clouds that have hung over the London property market have now dispersed. Having seen the number of property transactions slow down sharply over the last six months, as the prospect of mansion tax loomed on the horizon, with today’s result, we expect to see greater activity in the London market from now on. High valued properties, whilst still affected by some of the more recent tax changes, should see more stable demand and the resurgence of international interest. Now that London is open for business again we expect the wider markets to respond accordingly.”

April 29, 2015

De-clutter your home for a quicker sale

Filed under: Latest News — Tags: , , , , , , — JSS London @ 11:12 am

Thinking of moving house?
Summer is traditionally the best time of year to sell your house, and Shurgard, the self-storage expert, wants to help make the process as easy as possible.

The ideal move sees you wave goodbye to your old property and walk straight into the next. The reality is that there is usually a limbo period where paperwork and legalities are waiting to be finalised.

Making the most of your home by de-cluttering before the move could mean the difference between a quick sell and months of uncertainty during an already stressful process.  A clutter free home could also result in a higher sale value.

House to rent Towpath, Shepperton, Surrey TW17 9LL

House to rent Towpath, Shepperton, Surrey TW17 9LL

De-clutter
People like to think of the house they are viewing as their home… not yours. Therefore consider moving some of your more personal items and leaving just the bare essentials. Less is more, so be as minimalist as possible.  Although photos, ornaments and trinkets may be to your taste, they might not be to potential buyers.

De-cluttering adds to the sense of space, which should make the house feel bigger, lighter and brighter.

Getting started
Tidy away all knick-knacks. From kitchen counters to bathroom surfaces everything should be clear. Don’t hide things in cupboards or in the loft; a perspective buyer may want to really nosey around and you don’t want them to stumble across a big pile after seeing such a clutter free home! Pack these bits, along with additional bulky items like extra furniture, and arrange to store them at Shurgard for the duration of the house views.

Leave no room unturned
First impressions count! And the hallway is usually where the tour starts so move shoes, coats, keys and umbrellas. The same goes with paintings and family photos. An entrance hall should feel big, open and neutral to allow visitors to visualise how they would decorate the house.

As everyone knows, kitchens and bathrooms sell homes so move your shampoo and conditioner, novelty toaster and fridge magnets before booking any viewings. Think clean and minimal.

The garage is another space that is often full of old gear; bikes, sports equipment, tools and junk. It is not uncommon for new buyers to look at the garage as an opportunity to create an extra living space – a bedroom, study or utility room. Show off its potential by clearing it to really show buyers how much space they would have to work with.

How Shurgard can help
With 20 years of expertise, Shurgard offers a convenient, safe and flexible solution throughout the moving process, keeping treasured possessions, seasonal items and household goods secure. To

Detached House for sale Park Road, Kingston KT2 5LE

Detached House for sale Park Road, Kingston KT2 5LE

make things easier, when putting items away label each box with the room it came from and ensure they are put into your storage unit facing out, so they can be easily retrieved when the move is complete.

Location
Shurgard has 22 stores across London and the Thames Valley so wherever you are in the capital you’ll never be far from a store or your belongings. Just pop your postcode in online to find your nearest store location.

Size
Whether you need to store one box or a mansion house full of them, Shurgard offers units from 10 to 240 square feet.

Security
Shurgard knows how important every single item in storage is. Each facility has PIN code entry into the buildings and car parks, 24hour CCTV coverage and customers have sole access to their unit.

Value
Moving is an expensive business, and Shurgard isn’t going to charge the earth to store your items. For first time users, various promotions and discounts apply, including £1 storage for the first month.

Flexibility
If the move takes longer than expected, or you only need extra space for a few weeks in-between a move just let Shurgard know and they will be happy to accommodate your needs.

For advice when planning a move check out http://www.shurgard.co.uk/ or call 0800 368 0420 or please call our any of our London Offices.

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