Newsletter November 2010

Sales volumes ease following strong period

Conflicting macro-economic signals are creating a central London property market characterised by a similarly mixed bag of bulls and bears. For us, this comes after a remarkably confident period, with sales volumes up slightly even on last year’s strong showing. Those volumes started to ease towards the end of October, and November will, barring major surprise, definitely be quieter than last year.

Particularly striking for us is the contrast in attitudes amongst the buyers and sellers we talk to every day. Overseas buyers have, in the main, been…

Off-plan sales demonstrate confidence

At a local level, recent off-plan sales of in one of our development schemes, along with one or two others, paint an encouraging picture. With only the subtlest of marketing, it has already seen three sales, two at just under £3 million, the third at nearly £4 million, with more in prospect. Completions are scheduled for spring next year, so these sales and others like them demonstrate that buyers with the confidence to look many months ahead are there, provided the quality and location are right. Which, in this context, really means an internationally…

 It is with some relief that we can report a modest increase in supply of units to rent, ameliorating, to some extent at least, what had been a quite severe shortage, especially in two bedroom flats. The upward pressure on rents has eased accordingly, but it is still very much there. We are on now on course to see Q4 rental growth of at least 2%, around half that of Q3 but consistent with overall expectations for the year of well over 10% for all types of properties and as much as 20% in some specific cases. The greater shortage at the time of writing is in one bedroom flats, but the…

So many promises about space age homes have come and gone that we tend to be a little sceptical about ‘James Bond’ technology. We have, though, been impressed by one bit of kit we have seen recently, which is a system that allows you, remotely, to both see who has just rung your doorbell and, if you want, to let them in. You need an iPhone or similar with internet connection, but we can see this having enormous appeal to people who spend a lot of time away from home – and those with large properties or gardens where the front gate might be some distance away.  Apparently, you…

Each December, many of the parish and other churches in the area host numerous carol concerts, generally in aid of a one specific charity or another, bringing a touch of authenticity to the festivities as we rush from office to shop and home, so do support them if you can. This year, we notice that St Luke’s in Sydney St also has a performance of Dickens’ A Christmas Carol later this month, on 17^th November. Schedules for each church are likely to appear on their respective websites on or around 1^st December.

St Luke's & Christ Church, Sydney Street, SW3 6NH      

RBK&C opposing on grounds of disruption and diversion of funds

Designed over 100 years ago to serve as an occasional ‘safety valve’, sewage system overflows into the Thames now occur after as little as 2mm of rainfall. Thames Water’s solution is the Thames Tunnel, which would be the width of three London buses and 20 miles long, connecting the most polluting overflows to the Beckton treatment works.

Kensington and Chelsea recognises the scheme’s merits, but is opposing it now because it diverts funds from other works it regards as more urgent, will create congestion during…

The police have captured two men who tried to a rob security van outside Peter Jones last Friday, thanks to a call from our Culford Gardens staff shortly before the attempt was made. In a car that looked noticeably out of place, the men had driven past the office several times – including once going the wrong way down the one-way street – acting so suspiciously that our Sloane Square sleuths photographed the car, took its number and then called the police.

They arrived just after the men had made their attempted robbery, run empty-handed down Culford Gardens and driven off at high…