How wealthy foreigners are using the weak pound to snap up London homes

Overseas buyers are taking up properties in London’s most luxurious hotspots, reportedly “tempted a the cooling property market and weak pound”, Rachel Mortimer writes in The Telegraph this week.

Featuring in the article, Black Brick’s Camilla Dell shared her insights as a prime property buying expert of over 20 years: “Many vendors will place significant value on securing a cash buyer for their property, particularly in a market currently riven with down-valuations and fall throughs.”

“They may even accept a lower offer for their property if the buyer is able to pay in cash. It is a buyers’ market at the moment and being a cash buyer means that you have a better chance of getting a better price agreed.”

Read the article here.

Black Brick to visit UAE and advise where to buy in London this year

This week in Zawya, Black Brick Founder and Managing Partner Camilla Dell reveals where Middle East hopeful buyers should look for property in London this year.

With 23 of our clients here at Black Brick buying agents coming from the UAE, we are regular visitors to the region, meeting with potential clients and partners to share insight into London’s prime central property market.

Read the full article here.

The new house price hotspots favoured by high earners

Those who earn the highest in our country massively influence the growth of house prices.

As such, data into their movements enable buying agents like Black Brick determine emerging new property and neighbourhood hotspots.

Featuring in The Times this week to reflect on the latest revelations of high earners’ property interests, our Managing Partner, Camilla Dell shared her thoughts.

Read the full article here.

How will the property market fare in 2023?

The turbulence of the last year has had huge repercussions across almost every aspect of the UK and global economy.

Commenting on what we expect 2023 to have in store for our country’s premium property market, Black Brick Founder and Managing Partner, Camilla Dell sat down for an interview with Luxury London.

“Luxury, rare assets will always have demand over areas that are more susceptible, outside of prime central London,” Camilla reflected. She then went on to forecast that prices in prime London will drop two per cent in 2023, which is low, although she stressed that this should be taken with a pinch of salt:

“Predicting property values is extremely difficult, particularly in a market like London where different property types and areas all factor hugely in determining how values will perform over time.” Even if the picture is worse than imagined, it may be a case of simply holding out, as inflation is predicted to peak in the middle of the year, meaning that “we should see some light at the end of the tunnel as we enter Q3 2023”.

Read the full article here.

Where to buy in London in 2023

From Kensington and Herne Hill to Mayfair, St John’s Wood and Acton, our team at Black Brick knows a thing or two about where to look for the best properties in our capital.

Managing Partner Camilla Dell and Property Consultant Tom Kain recently offered their insights to PrimeResi, sharing where buyers should be looking in London this year and taking into account key economic and cultural considerations.

Whether you’re looking for a classically elegant townhouse or an ultra-luxurious penthouse apartment, we can help you find the most exquisite properties in the most exceptional London locations.

Read the article here.

Looking for our 2024 guide? Our updated insights on London’s prime property market can be found here.

Why are so many property sales collapsing?

Property sale deals are increasingly falling through as the market continues to react to outside pressures.

In a piece this week in The Spectator, Black Brick’s Founder and experienced buying agent for prime central London, Camilla Dell shared her insights into trends and habits she has noticed emerging in recent times.

Read the article here.

House prices are falling. Should I wait to sell my property?

For two years now house prices have only gone in one direction – up. But now, things seem to be changing.

In this week’s article for The Times, Black Brick Founder Camilla Dell shared her insight into how the calming market has affected sellers in prime central London.

“There’s a lot of international money swirling around. Most sellers are just really bullish at the moment in prime central London,” she said.

Read the full article here.

Nick Candy flips £8.7m Mayfair flat to cash in on pound slump

“In prime central London, it’s open season for wealthy investors from abroad with dollars to burn”, writes Emanuele Midolo in The Times this week.

Sharing her insight as a property expert of over 20 years and worldwide respected buying agent for premium London properties, Black Brick’s Founder Camilla Dell provided her input for the piece, reflecting on our own experiences as a buying agency in recent times.

“Our client list looks a bit like it did in 2007 and 2008, before the great financial crisis,” Camilla said. “[Other than the Americans], a lot of them work in the oil and gas industry, and a lot are from west Africa. I think that we will see a ‘flight to quality’ as we did in 2007. Buyers looking to diversify their wealth will be drawn to best-in-class assets.”

Read the article here.

How to secure a property bargain in this buyer’s market

With house hunters now holding “more power”, Alexa Phillips of The Telegraph writes her top tips for getting a good deal in today’s market.

Sharing his thoughts for the article, Black Brick’s Casper Harvard-Walls recommended that buyers should keep a close eye on sale prices in the area they wish to buy in.

“They can then compare what sold previously to what they’re being offered by the agent to build a picture and tailor their offer,” he said. He continued by arguing that this is a much smarter strategy than just making offers that are 10pc below the asking price.

Read the full article here.

What’s next for the UK luxury property market?

In a new article for Barclays this week, Black Brick Founder Camilla Dell shares why she believes that the domestic property market will see huge price reductions in the next few months.

“If you take Fulham as an example, and I really like the area, in the last financial crisis it was Fulham and areas like that which took the biggest price hits,” she argued.

“It’s a very domestic market, with most people who buy taking on debt. All the properties and streets look broadly the same, with properties priced between £1.5 million and £3 million. But we think it’s these markets that are vulnerable to rising mortgage rates – with people not buying, and people needing to sell and lowering their prices in order to sell.”