How the super-wealthy struggle to value their properties

As the world’s ultra-rich increase in numbers and the market for high-end properties becomes larger, intense price negotiations for luxury UK homes are becoming increasingly common.

In a new piece for The Financial Times this week, Black Brick’s Founder and Managing Partner, Camilla Dell shared how a recent story of how “one home on Cresswell Place in London’s Kensington was marketed for £37.5m but sold for 40% less, at £22m”.

“For super-prime property to hold its value over time it needs to be the right super-prime, without compromise. Not just the right address, but the right part of the right address”.

How to sell a house that doesn’t exist

In this new piece for The Financial Times, Black Brick buying agent, Alex Oliver shares best practice for how developers can create pristine computer-generated images to promote new properties.

“What is more likely is that developers choose to showcase the most exceptional rooms and views in a development in their marketing material. This can be slightly misleading. There is no substitute to visiting the site, to get the ambience of the area and ensure you get a unit with a good view.”, he said.

Read the article here.

House prices remain sluggish as buyers ‘wait and see’

Febraury saw a relatively slow rate of house price growth here in the UK, as buyers seem to be holding out until the country’s departure from the EU next month.

Sharing her perspective on the matter in The Telegraph, Black Brick’s Founder and Managing Partner, Camilla Dell argued that Brexit was only “part of the story”.

“A big reason why price growth is sluggish is because of tax. The market is struggling with extortionate levels of stamp duty and this is having an effect,” she explained.

Read the full article here.

London’s property ‘flippers’ forced to sell at a loss

Investors who buy up London property in the hopes of making a profit are increasingly getting disappointed when it comes to selling.

“As prices fall, many property flippers are unable or unwilling to complete, so face either selling at a loss or losing their deposit”, Black Brick Founder and renowned buying agent, Camilla Dell shared in The Financial Times this week.

Reflecting on her own experience with property flippers for luxury London homes, Camille explained: “The price you negotiate off-plan is the price you pay at the end, even if the market has fallen 30 per cent. Your mortgage lender doesn’t care if it’s gone down. As the buyer, you can inject the equity yourself, or you fail to complete,”.

Read more in the full article here.

Homes the super rich are buying now

What kinds of properties are the wealthiest of the wealthy most interested in right now? Have Penthouses overtaken mega-mansions?

Well, Black Brick buying agent, Caspar Harvard-Walls has shared his thoughts in a new piece for The Times, citing why penthouses are increasingly becoming popular with the super-rich, and buying top dollar.

“It is the classic thing of people trying to call the bottom of the market. For those with American dollars there’s been an extra incentive. The weak pound means that buyers now receive the equivalent of a 40 per cent discount on prices, compared to the first quarter of 2015.” he explained.

Read more in the full article here.

The market is in a twilight zone

Featured in The Times!

In a new piece by Anne Ashworth this week, Black Brick Founder and Managing Partner, Camilla Dell shares her perspective on the current UK property market.

Read the article here.

London’s cut-price mansions: expect more deep discounts

Fears are beginning to grow over the state of the London’s prime property market, as luxury homes continue to sell at cut-prices.

Sharing her insights as a top buying agent for prime central London, Black Brick’s Founder, Camilla Dell spoke with Hugo Cox of The Financial Times:

Reflecting on a recent property purchase of a six-bedroom converted Mayfair pub, Camilla said: “When the bank made a further margin call to reflect the lower value in the falling market, the owner ran out of cash and defaulted, leaving the bank racing to sell the house.”

Read the full article here.

Yes, you can buy near a top school

“One result of the property slowdown is lower prices close to good primaries”, writes Jessie Hewiston of The Times this week.

Sharing his insight as a top London buying agent for prime property, Black Brick partner Caspar Harvard-Walls featured in the article explaining how the slowing UK property market “will mean that people who want to sell a property within a traditional catchment area may struggle, so the catchment area may grow to take in streets that historically would never have had the chance of getting a place at the school”.

“This is good news for those parents and buyers, especially because properties outside the traditional catchment area are usually cheaper than those inside.”, he continued.

Read more in the full article here.

The foodie revolution continues in London

Which are the best neighbourhoods in London for the best food? Black Brick buying agent, Tom Kain discusses his thoughts in a new piece for The Times.

Recommending Brixton and Bermondsey, Tom shared how “These are good examples of areas that have rapidly become more gentrified.”

“A large part of the gentrification is fuelled by the food markets. Many young professionals and families relish the pop-up foodie outlets found in Brixton Village and Maltby Street Market in Bermondsey. It certainly is a draw card.” he continued.

Read the full article here.

Don’t have enough space at home? Buy the house next door

‘Improve, don’t move’ might just be the way forwards if you want to extend and make more space in your home, as more and more homeowners buy the houses next door.

Offering her perspective into this emerging behaviour within the UK housing market, particularly within the prime property sector, Black Bricks’ Founder, Camilla Dell shared her thoughts for a new piece in The Telegraph this week:

“It’s the ‘“’best house in the street’ syndrome that no one really wants” she said. “If you knock two houses together on a street where the average house price is £3 million, it’s unlikely a buyer with £6 million will want to buy there. They will choose a better street. The key is to consider the surrounding area and work within the confines of the market,” she recommended.

Read more in the full article here.