Are London’s price rises slowing down?

London’s property market continues to be robust for buyers and sellers alike, however two factors have seen favour sway from sellers to buyers in recent months.

The traditional summer lull when many potential buyers are holidaymaking rather than making offers, plus the recent tightening of mortgage lending rules following the government’s Mortgage Market Review, have helped pushed down prices in London by 5.3% during August according to Rightmove.

“After a period of dramatic property price increase over the last eight months, including prices climbing my by as much as 20% earlier in the year in Battersea, the summer has brought a much calmer buying climate,” says Tim Hays, sales manager of the Battersea office at London Estate Agents James Pendleton.

“Back in early summer property was coming to the market and being sold within a week, often via a sealed bid auction with multiple buyers bidding against each other.

“The pace has now slowed as values have reached an all-time high and buyers are being more cautious with the offers they make.”

It is most definitely still a good time to sell; despite house prices falling for three months in a row on average, London’s homes are still worth 10.3% more than they were a year ago .In some parts of the capital this figure is even higher – for example in Wandsworth prices have increased by 12%.

London has therefore rapidly become a buyer’s market as the last weeks of the summer have approached, something that happens to a greater or lesser degree every year but has been amplified this year by such an active property market earlier in the year as vendor expectations have been raised.

“It’s not all bad news for vendors,” says Tim. “If you are thinking about putting your home on the market, offer it at a realistic level and you’ll still sell at a very good price. South West London is a very strong investment area and one of the most popular places to live in the Capital.”

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Battersea Square Mews: future living in the heart of Battersea

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A superb new development coming soon to Battersea offers luxury lifestyle in one of London’s most up-and-coming areas. Comprised of five townhouses and four apartments, Battersea Square Mews represents a remarkable investment opportunity which we are delighted to present to the market.

The new development is located in Battersea Square, an elegant corner of Battersea with a cosmopolitan feel. The square is home to an outstanding selection of bars, cafes and restaurants including Gordon Ramsay’s newly opened London House, all within walking distance of historic Battersea Park and the Battersea Power Station.

What’s more, the square is just 50 metres away from the Thames; Chelsea is just across the river and the upcoming Diamond Jubilee Bridge, which has recently been granted planning permission promises even closer ties with the King’s Road and Imperial Wharf in the near future.

Schools in the area are excellent and include L’Ecole de Battersea and Thomas’ Battersea, providing families moving to the area with resources and opportunities for a first class education.

The Battersea Square Mews development has been designed with quality, comfort and style in mind. Elegantly appointed throughout, the nine properties benefit from Comfort Cooling, Sonos audio, Rako lighting control and a host of other amenities including Italian kitchen units, ample storage and secure parking.

The development’s designers have created a seamless indoor / outdoor living experience, making abundant use of natural lighting through floor-to-ceiling windows and putting careful thought into the layout of outdoor spaces. Each apartment features a stylish outdoor terrace providing superb views of the local area, while the Penthouse boasts a spectacular 550sq.ft. roof terrace viewing platform over London.

To find out more or to register interest in the Battersea Square Mews development contact James Pendleton Estate Agents’ Battersea Park office on 020 3137 8833.

London’s £1m-plus housing market is expanding

If you live in London and your home is worth more than £1 million then you may be one of the 60,000 or more people who joined this relatively exclusive club last year.

Approximately 240,000 apartments and houses in London are now said to be worth £1m or more and it’s a property market that has turned in an extraordinary performance over the past six or so years since the 2008 financial crisis.

As London’s economy continued to recover this year and unemployment hit a four year low at the end of last year so this increased optimism continues to feed through to the top of the market. Over the past 12 months some 10,000 £1m-plus properties were sold in London, up by over 10% compared to the previous 12 months, latest figures reveal.

“James Pendleton is confident that levels of activity in the £1m-plus housing market will continue to increase this year and although the price increases seen in the prime market within London may not reach the highs of 2013 which saw rises of approximately 9% across the Capital, we anticipate this buoyant market to continue,” says the London estate agents’ Sales Director Ewen Bunting.

London estate agents' Sales Director Ewen Bunting

London estate agents’ Sales Director Ewen Bunting

Experts say the London property market, particularly in central London, has become greatly influenced by foreign buyers and last year some £7 billion was spent by them on property within the M25, a level of investment which is expected to be repeated in 2014 despite new government policies designed to reduce tax breaks for non-UK homeowners.

But as central London’s high prices force many £1m home buyers to look elsewhere, estate agents in Clapham South, Fulham, Wandsworth and beyond are seeing more properties at this price being recorded on their streets.

Be property prepared this New Year!

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2014 is just a handful of days away and the property market is about to undergo its annual holiday hibernation as property owners and searchers alike put their feet up in front of the fire and browse for investment ideas on their smartphones.  Don’t be fooled, though, by a quiet Christmas market: while the festive season is typically one of the year’s least active periods the New Year is known for being quite the opposite.

Plenty of time to think and browse at home coupled with the inevitable New Year’s Resolutions will soon see homeowners rushing to sell in droves, buyers renewing their search with a new energy and landlords taking advantage of the annual post-Christmas flood of tenants.  The expected bustle is always great for the market as a whole but individual clients can find an increase in pace and choice daunting.

That’s why we advise registering with a sales or lettings agent now to take advantage of the automatic property alerts offered by good London estate agents like James Pendleton.  Searching for your dream home is the ideal pastime when the Turkey sandwiches are out and the re-runs are on, and automatic updates tailored to your search criteria remove the need to navigate busy property feeds.

Our advice to property owners is, naturally, to get prepared now to get your property out there ready for the New Year.  Now is not the time to wait-when the whole market is thinking the same thing it pays to be an extra fortnight ahead!

If you’d like to find out how to make the current property market work for you it makes sense to contact your local estate agents in London to speak to an expert.

James Pendleton welcomes a new Angel!

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South West London property experts James Pendleton have expanded their popular Angel department with the addition of a new team member.  With nine Estate Agents’ offices in South West London the company is well established throughout the area and is nationally recognised for service innovations.

One such advance introduced over the past few years is the Angel department.  Run by experienced property expert Zara Salih the department was introduced with the aim of extending the service offered during a sale or rental to cover the period from move-in onwards.

By speaking to a James Pendleton Angel a new homeowner or tenant can find solutions to the variety of questions and issues arising during what can be a chaotic time.  On move in day a representative from the department will provide a welcome pack and introduction to the property and local area. There is also an opportunity to leave keys with the secure Angel key holding service, a free concierge style initiative which allows residents to organise access to their property remotely as well as arranging contractor visits through the department’s recommended list of contacts.  This service is extended to buyers for the entire duration of the property ownership.

Joining the Angel team this autumn is experienced property administrator and local resident Sarah Vorley.  Sarah has already made a fantastic impression with local residents and company representatives alike and has proved to be the perfect new addition to a department known for outstanding customer service.

To find out more about the Angel department contact 020 7501 1045.

An incredible development opportunity in Battersea

highres1454368James Pendleton take great pleasure introducing to the market a fantastic development opportunity in a highly sought after location moments from Clapham Junction.

This three story building combines a commercial premises on the ground and basement levels with a five bedroom apartment above and there is potential to renovate both. The flat has its own front door from street level with stairs leading up to the first floor landing and down to the cellar, separate from that of the commercial unit.

To the front of the property on the first floor is a generous reception room and to the rear there is an eat-in kitchen and a WC. Second floor accommodation comprises three double bedrooms and a family bathroom as well as storage under the stairs. The loft has been converted to make space for a further two double bedrooms and eaves storage. The property also benefits from a south facing garden in excess of 40 ft.

The existing business premises and dwelling above can be converted into separate flats subject to the necessary planning permissions, making this an ideal Buy To Let investment opportunity. The property is very well located on St John’s Hill close to an excellent range of local amenities and a short walk from the outstanding local and national transport links of Clapham Junction station. The green open spaces of Clapham Common and Wandsworth Common are also within easy reach.

To find out more about this excellent opportunity contact James Pendleton Estate Agents’ Battersea office

96 Northcote Road
SW11 6QW
Tel: 020 7223 8000
Fax: 020 7223 8007

battersea@jphomes.co.uk

Webbs Road –fantastic new property development in Battersea

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As Grand Designs fans will know, it’s always thrilling to see the positive renovation of an old property. While not on quite the same scale as, say, a derelict church soon-to-be luxury penthouse, a professional and well thought out overhaul such as the one in progress on Webbs Road, Battersea is always a pleasure to behold.  Battersea Estate Agents James Pendleton are delighted to introduce two superb new properties about to arrive on the market.

Webbs road is a pretty, primarily residential street which lies between Clapham and Wandsworth Commons and runs parallel to Northcote Road.  A popular location much sought after by families and young professionals alike, Webbs Road is enviably close to acres of green space, shopping facilities to suit all inclinations and one of the biggest transport hubs in London.

What used to be the laundrette on Webbs Road was recently bought by JOSS Capital Partners, a property development and interior design company with a sterling reputation for producing quality homes such as those in the photos above.  To transform a building successfully while retaining its character is no mean feat, but one that JOSS have certainly mastered.  The two flats due to arrive on the market in a matter of months will be bright, airy and stylishly decorated throughout.

To find out more about these brand new properties, contact James Pendleton Estate Agents’ Battersea office or stop by for a chat with Sales Manager Sarah Welby and her team for full details.

 

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Nine Elms regeneration project shortlisted for prestigious award

Nine elms new development in Battersea Park

Nine elms new development in Battersea Park

This year has been an exciting one so far for new South West London property developments and there are few new addresses more prestigious that the Nine Elms development, which you may have heard about from your Battersea Park Estate Agents.

The exciting news just in is that the project is on the shortlist for this year’s Royal Town Planning Institute (RITP) awards in the ‘outstanding planning to deliver growth’ group.  What’s more, the development is hotly tipped to win having overtaken the Olympic Park to secure first place at the Planning and Regeneration & Renewal magazines’ ‘Top 100’ regeneration projects 2013.

The judging panel at the RITP awards will search for projects which combine respect for surroundings with innovation to create a truly excellent live and work environment.  The ‘outstanding planning to deliver growth’ category prizes developments which inject new life, energy and revenue into a community or area, and with a London Underground station, strikingly designed park and leisure complex on the cards Nine Elms certainly fits the bill.

The area, covering postcode SW8 and connecting Vauxhall and Battersea, provides a snapshot of London’s history and is home to one of the city’s cultural landmarks, Battersea Power Station.  Built in the 1930s, the electricity supplier closed around 50 years later when more modern techniques became more viable producers of energy.  Nonetheless, the building’s innovative design, scope and processes inspired countless ideas and helped bridge the gap between the Industrial Revolution and the computer age.

Nine Elms is set to create not only thousands of new homes (speak to your Battersea Park Estate Agent for more details) but also around 25000 jobs, all within a harmonious and well-designed setting close to the Thames.  Before plans began in earnest, the area surrounding Battersea Power Station was often named the last undeveloped area in central London and has long been the focus of fierce competition from designers, architects and even Chelsea Football Club.

The development of Nine Elms will not only impact upon the immediate area but also bring new energy and income to South West London as a whole.  The planned extension of the Northern Line will be supported by the introduction of ‘Boris Bikes’, two river bus piers on the Thames, an upgrade to Vauxhall Station train and bus links and a cycle and foot bridge connecting to Westminster.  The specially designed Linear Gardens which make up part of the development plans will provide a particularly scenic commuter route for residents working in the City.

This is a beautiful part of London set for even greater things and change is in the air everywhere: from your local Battersea Park Estate Agents to the national news, everyone is talking about the changes underway in SW8, not least London’s US residents eagerly anticipating the new US Embassy.  With a fantastic Thameside location, proximity to the amenities of Kings Road, Chelsea and a prestigious recent history (Battersea Park was a key location during the 2012 Diamond Jubilee) the area has a fantastic future and, with the help of the new Nine Elms development, promises to perfectly combine the historical weight and technological advancement that characterises the city of London.

For more information on the property and lifestyle opportunities available at Nine Elms, contact Battersea Park Estate Agents James Pendleton today: batterseapark@jphomes.co.uk 020 3137 8833