The hellish reality of being caught in a property chain

Today’s sensitive property market is creating longer chains and making the buying and selling process extremely delicate.

The Telegraph has released a new article this week that has revealed how UK families, couples and first-time buyers are being caught up in long property chains. Dominic Heath, Buying Consultant at Black Brick, featured in the piece to share his knowledge into how the mortgage rates and current economic climate is affecting how quickly people are able to move homes this year:

“If a seller is lucky to have a lower rate from pre-2022, they would rather port that lower-rate mortgage than break the chain and have to take out a new mortgage at a high rate in the future,” he commented.

Read the article here.

How Britain’s most expensive house became a £250m white elephant

Previously owned by a Lebanese billionaire politician, a Saudi Prince and most recently the property typhoon Hui Ka Yan, Britain’s most expensive mansion is up for sale at an impressive £250 million asking price.

We’ve shared our thoughts on the mega-mansion in a new feature by The Telegraph. Written by Jonathan Ford, our Managing Partner Camilla Dell has offered her insight into why she thinks the property won’t sell at anything without a steep discount, backed up by decades of experience and knowledge into London’s prime property market trends.

Read the article here.

Labour’s impact on London’s prime property neighbourhoods

Affluent non-doms are said to be leaving London amid the changes seen in this new Labour government.

And as a result, they are contributing to a crash in prime property across both our capital and country. On streets where houses would rarely go up for sale, suddenly rows of mansions are popping up on the market like never before.

Black Brick Managing Partner, Camilla Dell spoke with The Telegraph to share her thoughts on why this was the case, commenting on her own experience of this year’s luxury property market.

Read the article here.

The homes selling at a £5m discount

The days of property price highs seem to be over, at least for now.

With price reductions happening across the country, Black Brick Partner, Tom Kain spoke with The Times to share his thoughts.

Read the article here.

Meet the bargain-hunting home buyers behind the spike in ‘gazundering’

‘Gazundering’ is a tactic where a buyer makes a lower offer at the last-possible-minute, in a bid to force the seller’s hand to cut the price of their property.

Recently, there’s been an influx of such sneaky tricks. Our buying agent, Caspar Harvard Walls shared his insights in the new piece all about in The Telegraph this week, written by Alexandra Goss.

Read the full article here.

The property hotspots immune to the house price downturn

Particular towns and regions in Britain are starting to see pre-pandemic transaction levels, Ruth Bloomfield writes in The Telegraph this week.

Sharing his insights into why this may be happening, Black Brick partner and experienced property expert Caspar Harvard-Walls shared:

“In early 2019 we had Theresa May as prime minister, we were going through the agony of Brexit, and there was the worry of Jeremy Corbyn becoming prime minister. Confidence was very, very low, and transactions were low. Comparing now to then is a comparison to a real low point.”

“Overseas buyers have certainly been returning to London. They are not worried about interest rates, it is all about confidence, and they are also benefiting from the weak pound. A lot of domestic buyers in these areas work in the financial markets and have done really well in the last couple of years so they also have money to spend.”

Read the full article here.

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.

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.

Foreign buyers are swooping in to snap up London homes going cheap

As the pound continues to plunge, dollar buyers from over in America are making big savings on prime central London properties.

As a renowned London buying agent for its most luxurious properties, Black Brick Founder Camilla Dell featured in The Telegraph this week to share her insight on the recent influx of overseas buyers.

“The currency exchange rate has definitely helped. We can say to our clients that their stamp duty bill is effectively paid, compared to if they were buying this time last year.”

Read more in the full article here.

Why now is the best time in years to downsize your home

With mortgage rates on the rise and the market peaking, is now an ideal time for you to downsize?

Black Brick buying agency Founder and Managing Partner, Camilla Dell shared her thoughts on the topic in an article for The Telegraph this week, commenting on how downsizers were already seeming to “cash in before the market takes a turn”.

Read the full article here.