• A joke`s a joke,but this one is wearing thin

    Wednesday, November 11, 2009

    A joke`s a joke,but this one is wearing thin

    Douglas & Gordon - Primelocation Blog award Many years ago we, the people of Great Britain (not myself actually, but that’s beside the point), voted for New Labour to govern us for the next four, eight, god forbid twelve years in the sincere belief that our lives would be improved.  In fact, we didn’t vote for Gordon Brown, but again I digress.  This new government would listen to us and improve our lives in ways in which we could only imagine, things could only get better!  I’m rabbiting on, on purpose, because if I had mentioned the word HIPs you would, quite rightly, have stopped reading at least 20 seconds ago.  But please bear with me, you are going to be amazed.
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  • D&G Asset Management

    Tuesday, November 10, 2009

    D&G Asset Management

    D&G Asset Management (syorke@dngim.com) undertakes research into the prime London markets ( PCL ) and advises Funds on property acquisitions in Prime London. Recently D&GAM published its latest thoughts on the PCL market and looked ahead to what might be in store over the next two years . What the research showed was that PCL has a very low correlation to equities , the UK housing market and UK mortgage lending. This further underlines that PCL can act as a wealth-protector at times of economic weakness. In previous cycles the combination of a weak sterling and low stock has resulted in sharp corrections to PCL values.
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  • Shabby Chic is back

    Tuesday, November 03, 2009

    Shabby Chic is back

    A few decades ago when setting up home no-one could afford new furniture and it was accepted that you’d have to settle for second hand or family hand-me-downs. You made do and were grateful despite the fact that it often resulted in you having several styles of furniture or crockery all vying for attention.
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  • Up to the minute market comment

    Friday, October 30, 2009

    Up to the minute market comment

    Anne Ashworth in the Times today says that never has the state of house prices told us so little about the state of the housing market. We're lucky at D&G as we deal with well established buyers, not looking at the top end and with good jobs and sizeable deposits. This means they can access cheap mortgages, and if rates are going to stay low why wouldn't you buy now. Add that to Sterling's second collapse in a year giving our EU cousins another excuse to rampage here, and as if that's not enough that nutter Berlusconi offers a tax amnesty to rich Italians (where have we heard that before) who can repatriate their overseas millions for 5% rather than the usual 40% Tax. The result is billions of Euros pouring out of various Tax havens and into central London. Put all that together with approx half the usual levels of stock and it's no surprise there's not so much of a bubble as an explosion going on at the moment. As far as D&G is concerned it's a perfect storm, but it has to end. Our offices are reporting stock levels up 10% from last month and buyer levels down about 15%, so it does appear the balancing act is starting. Levels of actual business are steady but still about 50% down, in terms of volumes, from the 2007 peak, even if some prices being achieved are higher than they were even then.
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  • Vendors Driving up Prices by Holding Back Flood Gates

    Tuesday, October 20, 2009

    Vendors Driving up Prices by Holding Back Flood Gates

    Commentary by Ivor Dickinson, Managing Director of Douglas & Gordon Vendors are driving up prices in London by holding back the flood gates and not putting their properties on the market. Nobody wanted to sell when the market was falling, and now seven months of consistent price increases has given sellers the feel good factor, so they are still not moving, thereby fuelling pent up demand. Although many sellers are being tempted back into the market, they are not taking the plunge just yet. In September, we carried out twice as many valuations, but instruction levels are down 50% compared to this time last year.
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  • HIP’s are the primary cause of property prices in the capital rising

    Tuesday, September 15, 2009

    HIP’s are the primary cause of property prices in the capital rising

    Apart from a chronic waste of time and money, the introduction of HIP’s has resulted in fewer people putting their houses on the market. People aren`t selling, we have fewer instructions than ever before and, would you believe in a time of global recession, house prices are rising. In some exceptional circumstances properties are achieving 2007 price levels - Hard to believe when reports by doom and gloom merchants say the worst is yet to come.

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  • HIPS makes gazumping easier

    Friday, August 21, 2009

    HIPS makes gazumping easier

    “The introduction of HIPs has led to a much higher than expected level of gazumping in the current mini revival,” says Ed Mead, area director of Douglas & Gordon.
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  • Accidental landlords exit the market

    Friday, August 21, 2009

    Accidental landlords exit the market

    - Rental stock has diminished as accidental landlords withdraw from the market
  • - People who have rented their property for the last year see now as a good time to sell - As a result rents are stabilizing - Reduced rental stock means tenants are being more competitive for the best properties The large supply of rental stock in London has diminished significantly in the last three months as accidental landlords leave the marketplace. Vendors who were battling to sell their property a year ago and succumbed to the accidental landlord syndrome have been encouraged by activity in the sales market and are selling their properties to get on with their lives. Many were unprepared for the challenges of being a landlord and, now that they are achieving improved sales offers, are ready and willing to extricate themselves from the rental marketplace.
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  • D&G’s second best month in the company’s 51 year history in July 2009

    Wednesday, August 05, 2009

    D&G’s second best month in the company’s 51 year history in July 2009

    Estate Agents in London, Douglas & Gordon has announced July as its second best performing month in the history of the company, the best being July 2007. - July and August were expected to be very quiet - Actual applicant levels in July 2009 were the same as July 2007 - Three times as many applicants in July 2009 as July 2008 - July was the fourth consecutive month of increased activity for D&G sales - More than double the sales were agreed in July 2009 as July 2008 - Prices have adjusted to such a degree that the market is moving again - Trend: Landlords are selling rental properties and tenants are coming out of rented properties to buy - However, both sales and lettings are busy
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