Taxed out of mansions, London investors head down-market

London’s highly sought-after regions of Knightsbridge and Belgravia are usually a hotspot for wealthy property buyers. But not anymore, it seems.

A new piece by Bloomberg warns that the recently announced stamp duty taxes are putting off rich investors from buying property in London’s prime neighbourhoods.

Offering our thoughts on the topic as a top London buying agent for premium property, Black Brick’s Founder, Camilla Dell commented:

“Osborne has really depressed the luxury market. Investors are still spending the same amount, but they’ll split it up between several properties in the sub-1 million-pound market,”.

Read the article here.

Beware Greeks bearing money to buy in London?

With the Greek economy on the brink, we shared how London’s prime property market will be affected in a new piece for Estate Agent Today.

“As we have seen time and again, economic and political instability brings buyers to London’s prime property market. In recent weeks, we have been advising a number of Greek clients on potential investments in the UK, as the risk of Greece crashing out of the Eurozone looms over the continent and, especially, over Greek savers, who could see their wealth slashed by the effect of any devaluation on domestically held assets”, said Camilla Dell, Founder of Black Brick.

An elegant townhouse in a revived corner of London

With a luxurious, four-story Victorian townhouse in Earls Court up for sale for a staggering £3.5 million, a new article in The New York Times reflects on the regeneration of its southwest London neighbourhood.

As a London buying agency that’s been in business for nearly 20 years, we shared our experiences and reflections on the ever-changing London market for the article.

“As recently as 10 years ago, there was a real divide between property prices in the Earls Court postcode of SW5 and the South Kensington postcode of SW7”, Black Brick’s Partner, Caspar Harvard-Walls said.

Senior Consultant, Tom Kain added that, “We are seeing higher asking prices there as a result of the ongoing redevelopment,” referring to a long-term project on the site of the former Earls Court Exhibition Center, which has been torn down to make way for new homes and a commercial district.

Read the full article here.

Short-term jitters in London real estate after tax changes

The recently announced overhaul to London’s property tax system could lead to putting off wealthy investors from Singapore.

In a new article for The Business Times, Black Brick Founder and Managing Partner, Camilla Dell shared her thoughts on the topic:

“We love nervous markets as it gives us the ability to negotiate more strongly on our clients’ behalf.”, she said.

“Our view is that the next five months present perfect buying conditions for buyers that are willing to take the plunge,” she contined. “They could be rewarded handsomely, as the longer-term forecasts over the next five years are for 20-25 per cent growth across central London.”

House prices fall in parts of London for first time in two years

A report released this week highlights that house prices are falling in some London areas for the first time in two years.

Across the entirety of London, house prices did not rise at all in July, and fell in the areas where demand has “cooled the most”, a new piece by The Standard states.

As an esteemed buying agency specialising in property right here in the UK capital, we were asked to share our thoughts on these latest figures:

“It has started to become more of a buyers’ market for the first time in a long time, particularly in the super prime upper end of the market – £10 million and above. Indeed, we’re currently in the midst of a search for a client looking for a house in Mayfair or Belgravia from £20 million up to £100 million and there are well over 20 houses for sale in this price range. If there are sanctions against Russia which mean that certain Russians might be exiled from the UK, this could create even more supply on the super prime end.”, Black Brick Managing Partner, Camilla Dell said.

“Many high end developers are now struggling to find buyers for their trophy mansions, and are having to become more realistic with their asking prices. As such, I believe we could see significant price drops at the super prime end of the market. Indeed, one house in Mayfair has already had a significant price reduction from £120 million down to £95 million.”, she continued.

London’s Rich Tap New Breed of Broker in Hunt for Homes

Louise Beale interviews Camilla Dell for Bloomberg News, reporting on the use of buying agents to secure homes in the central London residential property market, where demand outstrips supply.