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Market commentary

House in Regent’s Park managed by SP Property Group

We regularly publish our thoughts and observations on the property market, to give our clients and followers an insight into what trends we’re seeing on the ground.

Buying activity increases as clarity for a March Brexit looks less likely. SP Property Group listed as one of the Top 20 UK Buying Agencies

  • Buying activity increases as clarity for a March Brexit looks less likely
  • Off market buying layer increases
  • Best in class and realistic pricing remains key for attracting the best tenants and minimising void periods
  • Mid-level tenants requiring break clauses and super prime tenants making more demands
  • Rental renewals remain strong
  • SP Property Group listed as one of the Top 16 UK Buying Agencies by PrimeResi
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SP Announces New Block Management Client & Spear’s 500 Listing

  • We are delighted to launch our new website
  • SP Property Group listed as one of the Top Recommended Buying Advisors and Property Managers by Spear’s Magazine influential Spear’s 500 Index

  • Jo Eccles’ column for Spear’s Magazine: The New Breed of Buying Agent

  • SP Property Group’s Block Management team appointed by leading developer Lodha UK to handle the management of their new prime West End development, Lincolm Square

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December 2017

  • SP Property Group re-brand
  • SP Property doubles the size of its team

  • Expansion into new client market

  • Approaching 400 property units under management in London

  • Continued presence in the national press

  • Some high profile relocations

  • Property management for cash rich and absent landlords only? Not any more…

  • Life goes on and “rightsizing”

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October 2017

  • SP welcomes Alice Duggan to our growing Block Management team
  • Interest rate rise and how to navigate the current buying market
  • How to choose a good removal firm
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September 2017

  • Transaction of the month: Apartment in a warehouse conversion secured off market for a South African client while still under construction
  • Transaction volumes remain low but buying activity picks up
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July 2017

  • SP welcomes Head of Residential Management
  • Rental market softens but still active when pricing is right
  • Testimonials from some of the landlords whose properties we manage
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June 2017

The election result will inevitably contribute to the ongoing political and economic uncertainty which we have been facing since the Brexit vote last year.

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April 2017

  • Transaction of the month: Negotiation and acquisition of a family house in Knightsbridge, £4.65m
  • General election – what does this mean for the London property market?
  • Affected by noisy neighbours?
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March 2017

  • Vendor price expectations coming down
  • Industry insight and contacts giving SP clients a head start
  • Evening Standard: Boost for central London property market
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February 2017

  • Transaction of the month: Client who started their search looking for a lateral flat and ended up buying a family house
  • Rise in off market sales and lack of clarity on pricing
  • Negotiation opportunities in the rental market
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January 2017

  • Transaction of the month: Investment property secured for a Jersey Trustee for £70,000 less than the seller acquired it for six months previously
  • What lies ahead for the buying market?
  • What lies ahead for the London rental market?
  • Jo Eccles names her top London hotspot for 2017 in The Times
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December 2016

2016 has been an eventful year and we have enjoyed the challenge of advising and successfully navigating our clients through the changing market conditions.

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November 2016

  • Transaction of the month: Off market rental property secured for a client in Primrose Hill
  • Autumn Statement
  • Jo Eccles featured as ‘Ask The Expert’ in The Sunday Times Home
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October 2016

  • Transaction of the month: £162,000 saving negotiated for a Westminster client
  • SP Property Management team wins contract to manage portfolio of 19 rental properties for large Private Office client
  • Jo Eccles video interview with the Head of Research at Londons leading proprietary property data provider, Lonres
  • The Telegraph: Can Justin Bieber save The Bishops Avenue?
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July 2016

With Brexit being the hot topic at the moment, below are our observations, views and predictions from the SP Property Buying Team.

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May 2016

  • Transaction of the month: Rental investment flat secured despite competition from other bidder
  • All eyes on referendum
  • SP nominated for ‘Best Property Finder’ Award
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April 2016

  • Transaction of the month: Off market pied-a-terre acquired for clients in Mayfair
  • Buying activity still there by sub £5m
  • Rental clients overtake high end buying clients
  • Our Block Management services has been well received
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March 2016

  • Transaction of the month: Property secured for client ahead of 1st April stamp duty increase, with seller renting back from them
  • PrimeResi Interview
  • SP opens new Block Management division
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January 2016

  • Transaction of the month: Family house in Islington bought for clients who already lived locally
  • Buying
  • Rentals and relocations
  • Property Management
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Top tenant tips

The London rental market can be quite tough for tenants at the best of times, as the best properties in any price range tend to get snapped up so quickly.

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Buy to let

Firstly, you need to decide whether you want to buy a property which produces a higher rental yield (ratio of income to purchase price), or a property which has better long term price growth potential.

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Slow conveyancing

Unfortunately, the level of service and speed at which conveyancing solicitors work varies significantly, and it’s very hard to know in advance how good your solicitor will be until they get going.

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Buying off-plan

London is world renowned for its spectacular architecture – and my tip for anyone admiring our buildings, particularly the older ones, is to look up as most of the detail is above eye level.

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Period property vs new build

This is a common conundrum. Buying a property is always a compromise, whether you’re buying alone or with a partner, so now’s the time to adopt an open mind and good communication skills!

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A new portal – Onthemarket.com

On January 26th a new property portal called OnTheMarket.com is being launched. It has been created by a number of leading estate agents who have come together in a bid to challenge the current market leading portals, namely Rightmove and Zoopla.

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Stamp duty changes

Chancellor George Osborne grabbed the attention of the property market last week, as he announced major stamp duty changes as part of the Autumn Statement.

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London on the rise

Thirty years ago high rise living was associated with council blocks and undesirable properties, whereas now, developers market this as the ultimate way of living.

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Online vs High Street

There were waves made in the property market last week when a seller opted to put his £15.5m Knightsbridge house for sale via an online estate agency, rather than going down the traditional route of using a high street estate agent.

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Down Valuations

We’ve seen mortgage down valuations returning to the market in recent weeks, which is when a property purchase is agreed at a certain price but, when the mortgage lender’s valuation surveyor visits the property, they decide that it is worth less than what the buyer has agreed to pay.

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Sale Delays

Over recent months we’ve seen a lot of our client purchases taking much longer, compared to this time last year.

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Inflated prices

With property prices holding firm across many parts of London, we’re seeing a number of properties on the market for an inflated price.

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Making a decision

It’s always difficult when searching for a property and finding the one you love early on in your search. The eternal dilemma is – have I seen enough?

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Interest Rates

Anyone buying a property with a mortgage should be paying close attention to interest rates, because if they change, so do your monthly mortgage payments if you’re on a floating mortgage rate.

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Amateur Developers

With house prices on the rise in central London, we’ve seen an increase in the number of buyers looking to try their hand at small time property development.

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London’s new build market

A recently published report showed that prime central London has over 20,000 new properties due to be released over the next 10 years, and the value of these properties is estimated to be in the region of £50 billion.

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Gazumping

Unfortunately, a rising property market brings out the worst in people, and we’re certainly seeing that in London.

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NHBC

With all the new developments being built in London and the rest of the UK, it pays to know your rights as a home owner.

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Contractors

I see many unmodernised properties sold for a premium because a lot of buyers want to purchase a property which requires refurbishment.

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Letting fees

If you’ve ever rented a property, you’re likely to be familiar with the situation where you’ve finally found the property you want and, just as you’re about to put down a holding deposit, the estate agent informs you that there’s a hefty administration charge.

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Auctions

There has been much talk of the recent repossession of a one bedroom flat in One Hyde Park, which is now being sold by the receivers for just over £5m which, at more than £5,000 per square foot, doesn’t exactly look like a bargain.

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Open House London

As part of my job I see around 400 different properties per year, ranging from tiny studio apartments to spectacular family houses or extravagant bachelor pads – and everything in between.

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Forgotten spaces in London

London is world renowned for its spectacular architecture – and my tip for anyone admiring our buildings, particularly the older ones, is to look up as most of the detail is above eye level.

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Buyers, be on your best behaviour

If you’re viewing a property and the vendor is present, it’s important to remember it’s their home, so be respectful and avoid committing a faux pas otherwise you could run the risk of them not wanting to sell to you.

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Buying Off-Plan

London has a huge pipeline of new developments which will be completed over the next decade, and it’s been fascinating to see the different plans and architecture unfold – and it will be even more so when the developments are actually built.

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Price per Square Foot

When a property is sold in the UK, its size is measured in square feet (or square metres if you work in metric) and, in central London, this forms the main basis of the property’s value.

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Check-in reports

I wonder how many of you reading this are renting and if so, how many had a professional check-in report carried out at the start of your tenancy.

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