Central London is the most extraordinary and perhaps unrealistic property market, particularly Prime, and to be blunt this has been a “good” recession for those with money and property here. Never has there been so much that’s unknown or data that’s so subjective and it’s rewarding to spend a day with someone who has a uniquely objective view, as I did yesterday.
Archive for the ‘Market comment’ Category
Market Report – January 2010
February 3rd, 2010 by Ivor DickinsonEver since our return to work after the Christmas break, I have been besieged by requests from all corners as to what is going to happen to the market this year. My answer has been “we must wait until the end of January to get a good comparison of year on year statistics”. Considering two weeks of this January were virtually a non event because of the extreme weather conditions, the results are perhaps even more startling than they might first appear.
Sales
Noughtie Parakeets
January 29th, 2010 by Ed MeadJust as we’ve got used to calling them the Noughties we’re into the Teens. The end of the Nineties saw prices and volumes in K&C moving higher very quickly, but the dot com bubble bursting caused ructions at the beginning of the new decade with a loss of volume and flattening of prices. Such worries were brushed aside and forward momentum quickly re-established. Prices in K&C have again been rising fast at the end of this decade at 10% up (Land Reg) over the last 6 months, but volumes, already half what they were in ’99 have been falling. Not really sure anyone expected this but the “perfect” central London storm looks set to continue for a few months irrespective of bankers and Tax. Will we get out of jail this time….what do I know, I’m just a stupid estate agent. We’re all bloody lucky to live in such a resilient City. On a lighter note, one of our finest spaces is Richmond Park, but every time I go there I’m shocked by the number of parakeets, and luckily they’ve just been designated as pests. Given that they’re not indigenous can I suggest that a charity parakeet shoot there would raise a fortune for charity.
Why we WON’T all be selling privately in the near future
January 25th, 2010 by Ed MeadThere has been plenty of press over the weekend and Twitter chat about how the Telegraph’s interview with Sarah Beeny points to the demise of the estate agent. To be fair she opines that 50% of all property sales will be done privately by 2015 so that would seem to give half of us a stay of execution at least.
Sarah has obvious charisma and appeal and it’s all too easy to denigrate agents and jump on the bandwagon. I wish her all the best with her site which is well thought out, slick and deserves to carve out a niche for itself. Private sales are not new and have in the past been the preserve of the bargain hunter, either buyer looking to buy without competition, or seller trying to avoid paying an estate agency a fee.
Market Predictions
January 14th, 2010 by Ivor DickinsonPrices/Stock- In D&G land, Central and SW London exclusively, prices last year rose bybetween 12 and 20% depending on the property.
Unless there is a dramatic rise in stock levels I don`t see any reason why things should be that different in 2010. The forthcoming election will deter house sellers yet again, with vendors delaying moving in the hope that a Tory government might remove some of the punitive shackles that this government have inflicted on the housing market.
Focus for 2010 – My main priority for this year is staff. This recession has deterred people from moving within the industry and has seriously impacted on the amount of quality candidates wishing to join the industry. The hunt is on for high calibre estate agents.
Plans for 2010-Probably consolidation, 2009 was actually a very good year for both sales and lettings due to the constant demand and limited stock. I think the electionwill play a big part this year and so despite last year`s success I am not entirely convinced that they will be repeated in 2010 and I am therefore not planning massive expansion or dramatically increased marketing.
Market wish for 2010-Damn location ,location, location………I want property, property, property, both for sales and lettings, and a few decent negotiators would be nice.
Looking ahead
January 13th, 2010 by Ed MeadThere’s a lot being written about the year ahead and never have there been so many unknowns. Reading many opinions it’s easy to see whether their authors are vested in the property market as buyers or sellers and estate agents are always prone to talk the market up. Anyone who knows me and D&G will hopefully know that we will at least say it as we see it. Given that we have a 15% share of the market across our not inconsiderable area (not just central London) that also means that our opinion, if you chose to read it, should carry at least some weight.
A little about the Chancellor’s credentials
December 9th, 2009 by Ed MeadThere’s going to be a lot of waffle about the pre budget statement, but what amazes me is the credentials of the person who’s delivered it.
Alastair Darling’s university career was alarmingly close to my own in chronological terms which, I suppose, makes me feel even more qualified to comment.
Look it up, he was a solicitor for four years before becoming a public servant. I’m not decrying those who wish to serve, yet there seems to be a lowest common denominator amongst politicians that’s simply not found in the true altruist.
Google vs Portals vs Printed media
December 4th, 2009 by Ed Mead
Property portals vs Google vs Printed media advertising.
It’s staggering how those in the media and those who earn money by supplying services to those who advertise in the media misunderstand property advertising.
This debate has been thrust under everyone’s noses again by the eruption of a debate, started by Dan Thomas in the FT yesterday, about Google’s possible (read certain) entry into the battle for property listings.
I have no axe to grind here and like any agent will look for commercial advantage, and if Google are willing to offer a clean and useful service that, modelled on other services they provide, is free then I’ll be looking very carefully at it.
A return to good sense……
November 30th, 2009 by Ed MeadMy last blog was reminding us how quickly things can change and here we are barely a week later and Dubai is in the poo and those very banks you and I bailed out have now decided there is going to be a double dip and have raised medium term fixed rates accordingly. There’s obviously more going on than meets the eye in Dubai with Abu Dhabi perhaps witholding support until Dubai hands over State backed assets like Emirates that they’ve been coveting. But it’s a wobble none the less with consequences that no one has yet worked out. In the last year or two many rushed to open HSBC accounts thinking they were safe and now suddenly they’re talked of as taking a massive hit. Don’t you just love the rumour mill.
Money for old rope…my a**e.
February 24th, 2010 by Ed MeadMost know me as a straight talking agent so it’s difficult to keep my mouth shut when there’s so much utter rubbish being bandied about by supposed “property experts” about how estate agents are all bloody useless and that their fees are money for old rope.
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