Archives

Taking stock of the UK’s red-hot property market

According to Rightmove, UK homes right now are selling faster than ever before and skyrocketing prices.

Sharing her insights as a London buying agent of over 20 years, Black Brick’s Founder, Camilla Dell featured in a new article for Barclays this week.

“We’re definitely seeing a pick-up in central London living – in both the sales and rental markets,” she said.

She also added that around half of all her sales at Black Brick are now “off-market”, i.e. properties not listed by estate agents. “In my 20-year career, I’ve never seen a market like this in central London, which is so chronically short on supply,” she summarised.

Read more in the full article here.

Why 2022 is the year to buy a central London flat

Whilst the overseas buyers are away, this year might just be the perfect time for UK to buy a central London flat – without the competition.

Commenting on the current market for prime central London property, Black Brick Founder, Camilla Dell shared her thoughts in a new article for The Times.

“I think we will see a lot of Middle Eastern buyers coming back after Ramadan,” she said, “Maybe there is hesitation. What could be putting them off? Boris Johnson! There is potential for political turbulence looming . . .”

Read more in the full article here.

Hampstead is one of the best areas to buy in London – if you can afford it

As one of the oldest areas in London, North London’s former village and beautiful borough of Hampstead is one the capital’s most popular places for the rich and famous to buy property.

As a premium property buying agent for London and resident of Hampstead, Black Brick’s Founder, Camilla Dell was featured in The Metro this week, sharing her insights into what buyers can expect for the region.

“Hampstead’s been a key beneficiary of off-street parking”, she first shared. “Prices range from £1,400 to over £2,000 per sq ft, and many of our sales are off-market, so not advertised.”

Read more in the full article here.

Meet the women at the top in London housing

This International Women’s Day, Black Brick’s Founder, Camilla Dell is delighted to be featured in a new piece by The Metro, spotlighting some of the most remarkable women in UK property.

“Fifteen years ago Camilla Dell set up her own company, Black Brick, to help buyers find their dream homes.”, writer Ruth Bloomfield revered.

Speaking in the article, Camilla shared her story as a prime central London buying agent of over 20 years, reflecting on her time before founding her own agency, and how her experiences have shaped how she works today.

“When I was at Knight Frank, only one of the proprietary partners was a woman, and I just thought, What are my chances? And I had always wanted to be the boss and do my own thing.”, she said.

Read more in the full article here.

London buyers with cash to burn stumped by lack of available homes

People are queuing up to buy, but nobody seems to be selling their homes… why?

In a new article for The Standard this week, Black Brick Founder and Buying Agent, Camilla Dell shared her perspective on the current propety market dynamics, citing that the situation was “putting off would-be downsizers who can’t find a property but are reluctant to rent for fear prices will run away from them”.

Read more in the full piece here.

Themes that will shape an exciting year in Prime Central London

In this article, Black Brick Founder Camilla Dell shares her top expectations for the year ahead in UK property.

1. London is regaining its charm and drawing buyers back in

PCL is expected to see an influx of interest, with buyers gravitating back towards the city, as the “race for space” loses momentum. London hotspots in 2021 reflected the influence of the pandemic, leading buyers to move away from central London to outer suburbs like Wimbledon, Richmond and St John’s Wood.

Our clients were typically looking for detached houses, with outside space and an option for a short commute into central London. This is something we anticipate changing as buyers head back to inner London, giving attention to areas lacking interest in 2021.

2. There is one area at the forefront of buyer’s minds

Bayswater is the one to watch.

Having previously been considered a less desirable area, compared to its more swanky neighbours, it is becoming increasingly desirable. Buyers are comfortable returning to apartment living, as Hyde Park and Kensington Palace Gardens offer the reassurance of nearby public outside space for those buying a property without a private garden, patio or balcony. Although restrictions have eased, it is likely the pandemic will have a lasting effect on buyers, leading them to permanently consider outside space in their criteria when purchasing in London.

Super-prime developers Finchatton also believe in the area and recently launched new development ‘The Whiteley’, which will comprise luxury apartments, new retail space and a Six Senses Hotel. The new Park Modern development overlooking Hyde Park, in Bayswater also gives the area an added attraction, offering luxury, contemporary accommodation. And with Bayswater presenting considerably lower prices compared to its pricier neighbours, Notting Hill and Marylebone, it is the place to purchase, with good value for money and excellent long-term investment returns.

It’s one of the last, if not the last location in central London to be gentrified.

Whenever you have significant investment into an area, in the case of Bayswater, we are talking billions, it will have a positive knock-on effect on surrounding property values. It’s one of the last, if not the last location in central London to be gentrified. Bayswater has tended to languish at the £1,200-1,600 per square foot level, around half of what neighbouring Notting Hill and Mayfair can command. Even the luxury new builds being launched off plan in W2 at £3,000 per square foot look compelling when compared to the £5,000 per square foot plus that new builds on the other side of Hyde Park command. The re-vamping of Queensway, two luxury new build developments, and the arrival of a new Crossrail station means only one thing for Bayswater – the only way is up.

We are seeing an upturn in demand for apartments, but buyers are far more discerning than before the pandemic. Outside space and proximity to a good local high street are top of buyers wish lists. We are seeing a very tough market for sellers of ex-rental stock located in older new builds, some with cladding issues and which are poorly located and without outside space. There is no market for them, no matter how cheap they become.

Unfortunately, unless apartment listings are located near green space, and a great high street they are likely to be difficult to shift

Unfortunately, not all apartments will make the London-wide comeback a lot of sellers are hoping for. Buy-to-let has lost its attraction for many private landlords, meaning ex-rentals are flooding the market with an added surge in apartment listings; supply is at an all-time high, while demand is selective and lacking. So unfortunately, unless apartment listings are located near green space, and a great high street they are likely to be difficult to shift.

3. Off-market sales are on the rise

With the majority of buyers on the lookout for properties with the same criteria, is it becoming the norm to engage in bidding wars, leading to paying over the asking price. To combat this issue, an increasing number of properties are being sold off-market. Our role as a buying agent has therefore become key, ensuring prospective buyers can navigate the complicated property market. 2021 saw a record percentage of ‘off-market’ sales for our clients, as we went the extra mile to secure dream homes around the capital.

This year, we have invested in technology that allows us to map out the number of potential off-market properties that match our clients brief. We then analyse this data, looking at who owns the property, when they bought it and at what price. We can then make very targeted approaches. As we are not estate agents, our approaches are often warmly welcomed by owners who may be considering a sale but are yet to list their property openly with an agent.

Why Buy To Let is losing its appeal

As one of the most respected buying agents in London, our opinions at Black Brick are backed by decades of experience and expertise.

This week, our Founder Camilla Dell shared in Estate Agent Today why she believes the buy-to-let property market in London is starting to lose popularity amongst investors.

Sharing insights from Black Brick’s 2021 review, Camilla shared that whilst people are increasingly interested in apartment properties, buyers are “far more discerning than before the pandemic”.

“Outside space and proximity to a good local high street are top of buyers wish lists. We are seeing a very tough market for sellers of ex-rental stock located in older new builds, some with cladding issues and which are poorly located and without outside space. There is no market for them, no matter how cheap they become.”, she said.

Read more in the full article here.

“No market” for some prime London flats without outside space

At Black Brick buying agency, we’re starting to see that whilst the property market in prime central London is getting up and running again, apartments without outdoor space are still unpopular.

Perhaps a reflection of the realisations we found during the pandemic, our Founder, Camilla Dell expanded on why there is currently not much market for premium London flats that lack outside space or garden areas, in a new piece for Estate Agent Today.

“Not all apartments are equal. We are seeing an upturn in demand for apartments, but buyers are far more discerning than before the pandemic. Outside space and proximity to a good local high street are top of buyers wish lists. We are seeing a very tough market for sellers of ex-rental stock located in older new builds, some with cladding issues and which are poorly located and without outside space. There is no market for them, no matter how cheap they become.”

Read more in the full article here.

Property bidding wars are breaking out at record pace

Over a third of UK homes were sold through bidding wars last year, marking a record number of buyers that paid more than the asking price.

Reporting in The Times this week, Rachel Mortimer spoke with Black Brick buying agent, Tom Kain shared his insight into the current prime central London property market.

Read the article here.