The race to sell second homes before Labour puts up Capital Gains Tax

Black Brick buying agents Rupert Stephenson, of the West Country branch, and Anna Sharp, of the Cornwall Branch, spoke with David Byers for a new piece in The Times this week that reflects on how expectated tax rises in the Autumn Budget are causing chaos in the property market.

“Some holiday homes that have been in the same family for generations are now coming up for sale as people not only worry about CGT but also have been affected by the change in holiday let tax relief and landlord relief that was imposed by the last government.” Rupert said, including “a number of prime estates, farms, and coastal properties”, particularly around Exeter and Salcombe in Devon, ranging between £4 million and £10 million.

Meanwhile just up the road, Anna shared that as international travel has increased, UK holiday bookings are down by around 37% in Cornwall. Combined with soaring mortgage rates, this trend has majorly impacted investors’ pockets. “For many, it is no longer a viable business transaction, with the yields simply not adding up,” she said.

Read the full article here.

Why London’s mansions are struggling to sell

London’s most luxurious properties aren’t getting snapped up so quickly at the moment. But why?

For the priciest properties this year, “sentiment is significantly down”, Black Brick Founder & London Buying Agent, Camilla Dell shared, adding: “The current market reminds me a little bit of the financial crisis in terms of what I’m seeing in terms of the volume of stock available, price reductions and nervousness in the market from vendors.”

Read the full article in Bloomberg.

The eight most unwelcoming places to buy a second home in the UK, plus the eight villages where you can buy a stunning property AND be embraced by locals

In a new article for The Daily Mail this week, Black Brick Buying Agent Rupert Stephenson shares which areas in the UK he, as an experienced Buying Agent for Devon, Dorset and Cornwall, believes are the most beautiful and welcoming places for people to buy their second homes

“‘”The people of Dartmouth, being a naval base, are used to newcomers and the locals are very welcoming,” he said. “Newton Ferrers on the estuary of the River Yealm has two good pubs and a post office. It is a community of incomers and everyone gets along extremely well.”

Read the full article here.

Nine things that are affecting your property value

In a new article for House & Garden this week, the Black Brick buying agency team joins The List’s panel of property experts to discuss the factors people should consider before investing in property.

“Flats with high ceilings and great views will always command premiums so it’s important to understand this before making an offer,” our team said. “Agents and valuers always focus on price per square foot/meter but volume is hugely important when determining value. For example, a first-floor apartment on Eaton Square with over three-metre ceiling heights can trade for fifty per cent more than flats on other floors.”

Read the article here.

London’s luxury-home market looks to rich Americans to save it

As luxury property sales continue to slump this year, Americans seem to be proving to be the UK premium property market’s saving grace.

Speaking with Damien Shepherd for Bloomberg, Black Brick Founder & Managing Partner reflected on why our fancy friends from across the pond are increasingly looking to buy property in the UK.

“For many of our US clients, they see London as a safe haven compared to the US, where anyone can own a gun,” she said. “There has also been an explosion of wealth in the tech sector in the US. When people get wealthy, they buy assets, and London is a key recipient of that.”

Read the full article here.

Call my Buying Agent! Black Brick in Financial Times

We are delighted to have been featured in The Financial Times this week, in a new piece that spotlights premium buying agencies in London and the wider UK.

Speaking with writer Cathy Hawker, Black Brick’s Founder, Camilla Dell, shared insight into the hidden world of premium property, and reflected how current times have affected the market and growing need for buying agencies like Black Brick.

“Over the past two years, half of my clients, appointing a buying agent for the first time, have a budget below £3mn. Using one is much more understood now. Off-market properties are more prevalent and transaction costs much steeper. The stakes for getting it wrong are so much higher. Going into the London market without a buying agent is a bit like going to court without a lawyer.”, she commented.

Read the full article here.

Is buying a listed property worth it?

Listed homes are usually worth around 50% more than unlisted ones, but there are often extra hidden costs and damages that buyers should be cautious of.

Sharing his insight into the nooks and crannies of the property market, Black Brick Buying Agent Tom Kain advises in The Times this week that buyers looking at listed properties should always be wary of undisclosed building consent regulations before buying anything.

“It is a case of buyer beware when understanding how they have been updated,” he said. To avoid an unexpected bill, Kain recommends asking a surveyor to compare the building with the listing description and commissioning a heritage consultant report that outlines whether enforcement is likely and gives an idea of the costs involved.

Read the full article here.

Best places to live by the sea in the UK 2024

As people increasingly begin to crave a slower-paced lifestyle away from the concrete jungles of the UK, seaside properties are fast becoming some of our nation’s most desired places to live.

Our Regional Director for Cornwall, Anna Sharp has offered her thoughts to The Times this week to share her expertise on which particular seaside towns home hunters should be looking at to buy in 2024.

From the stunning sandy beaches of Cornwall to the wild coasts of Scotland, there are so many great places to live by the sea in our beautiful nation. But when you account for each seaside town’s culture, property pricing and architectural attraction, it’s clear to see which places are ranking the very best.

Read the article here.

London’s luxury real estate developers up the ante with Botox, Wegovy

Luxury features of London’s priciest housing developments are getting more and more competitive – and outlandish.

Having a huge pool or 24-hour concierge service is no longer enough for London’s premium property buyers. The solution? Developers are now offering amenities that include exclusive access to private member clubs, private cars to drive children to school, and even doctor services with Botox treatments available.

“Buyers of these sort of very expensive new-build homes are looking for more than just the apartment itself,” Camilla Dell, Founder of buying agency Black Brick, shared in the latest Bloomberg article. “Now, I’m seeing developments that—as well as having great amenities within them—are also offering a lifestyle through being able to organize child care, walk your pets, and offering things like what Chelsea Barracks are doing.”

Read the full article here.

How pets are helping to sell homes

In a new piece for The Financial Times this week, Black Brick Founder Camilla Dell shares why pets are increasingly being featured in property listing images as a way to attract buyers.

“I think pets give more of a human element to the property,” Camilla said. “It’s not this pristine show home that no one has ever lived in.”

Read the full article here.