With most people back from their holidays and students arriving in the country for the new academic year, the lettings department has seen an improvement in viewing figures and offers. Rental prices are down, in some cases by as much as 10 %. Our clients are aware of this and most are prepared to accept slightly lower offers.
Alexander our new Head of Sales has also been busy; “An increase in properties coming to the sales market is encouraging and with the weak pound and fall in asking prices, this is a good time to pick up a bargain.” We have some great new properties on our website www.malverns.co.uk so be sure to have a look.
Weekends are spent relaxing with the family at home on the Isle of Wight and the week in London catching up with old friends be it over a pint at Lords or keeping an eye on the culinary scene.
We are sad to say that Nigel has left Malverns to pursue interests outside estate agency, in particular to promote his Simply Sicilian venture involving the sale of delicious foodie bits from Sicily. He has been Head of Sales at Malverns for almost 3 years and in Agency for over 30 years. We will miss him and his fabulous sense of humour which has kept us smiling throughout the trials and tribulations of the London property market and the political scene!
We are however delighted to welcome Nigel's replacement, Alexander Leon, who will be starting at Malverns on 7th August and we look forward to introducing him to you if you require any sales advice or FREE valuation. Alexander is extremely experienced in the industry having set up and run the sales department in various companies in Central London. We have no doubt that he will be a great success.
How lovely to see the daffodils out and feel a bit of sunshine on our backs! Having just left a freezing New York, where temperatures plummeted to -12 while I was there, I am probably appreciating the warm snap more than most! The good news for us here at Malverns is that with the warm weather, flowers in the garden and sunshine, come increased levels of activity, sales and rentals and a flurry of people wanting to move by the Summer. We have already noticed the phones starting to ring and leads coming through our network of property portals, which is encouraging to say the least. The next step is to turn the activity into solid business, and progress those sales and rentals through to a speedy completion. Here at Malverns we pride ourselves in the fact that we lose very few deals once tied up. We believe that the sale or let is only 10% complete at the point of offer and the hard work starts when we deal with the solicitors, surveyors and other agents, trying to make the deal happen. Our professionalism at this stage is what sets us apart from the rest, ensuring that all the documents are where they should be and that people know what they should be doing at what time. You can rest assured when you instruct Malverns that we offer the complete service, from the initial viewing to enjoying that celebratory glass of Champagne when you move in. Call us now to discuss our Summer rates and our offer of a FREE MARKET VALUATION.
Oh and don't forget to tune in or record our very own Head of Rentals, RIA GEERLING, appearing on HOMES UNDER THE HAMMER on Thursday 16th March..
There is never a dull moment in Malverns Estate Agents! What a wonderful weekend it was for Nigel, who celebrated the arrival of his first granddaughter, a beautiful little girl called Olivia. Not such good news for Niki though, who found herself in hospital over the weekend. I know the staff will all join me in wishing her a speedy recovery and hoping that it's only a matter of time before she's back in the saddle again and of course in the office with the team. The market continues to surprise everybody, with some last minute sales being put together, although the rental side is very quiet as we approach the festive period. Here at Malverns we are convinced that the spike in sales is due in part to the lower value of the pound against other currencies. A number of foreign investors, as well as some bullish British buyers have shown that even with a new regime in the USA and an uncertain future in the UK, they are still prepared to invest in what historically has always been a solid property market. we will continue to keep you posted with market developments as the year ends and we move into 2017.
Whether you are a sports fan or not, you cannot fail to be impressed by the amazing achievements of our fabulous Olympians! Right up there with the USA and ahead of China in the medal table is simply sensational! It's even taken away from the other main event that has been happening and is a favourite of mine... the Westie Olympics! The dogs compete in sprints such as the 'Paw hundred metres' and the Paw by Paw relay... not to mention the singles and pairs water ski-ing (pictured!).
It's not to late to take advantage of our huge discounts being offered to any vendor instructing Malverns to sell their property, throughout the Olympics. Talk to Nigel or Niki on sales and Ria if you want to rent or let your home, or simply pop in for a friendly welcome from us all.
Published: 08/08/2016 Last Updated: 01/09/2016 14:36:09 Tags: Alfies View
Published: 29/07/2016 Last Updated: 01/09/2016 14:27:10 Tags: Alfies View
As Alfie is away on holiday at the moment, it has fallen on Nigels shoulders to give us Malverns take on the current political and economic situation in the UK and the way we envisage it affecting the London property market:
MALVERNS & BREXIT
Those of us in the London property market had been anxiously awaiting the results of the Brexit referendum, as the lead up period had been full of uncertainty, resulting in lower transaction volume. With the 24th June 2016 vote to leave the European Union, unfortunately, surety has not been restored and many are wondering what this means for United Kingdom, and the London property market.
The results of the vote triggered an immediate reaction in the financial and currency markets, with the pound plummeting to a 31-year low against the US dollar. The FTSE opened with a fall of 8.7% (although recovered) and both house building and banking shares were amongst those hardest hit.
Even with the initial response being very dramatic, agreeing the terms of the exit from the EU could take up to two years to negotiate (from the time Article 50 is invoked) which could mean many more months of uncertainty.
The capital has been an area of prime real estate for a number of years, so as the hub of property investment, both for the UK and foreign investors, the London property market could suffer significantly. Over the last few months, we’ve already seen property sales volume decline ahead of the referendum and on the back of recent stamp duty increases. Given the capital’s links to the financial sector, rental rates may also be adversely impacted as nervousness in the financial sector and potential job transfers may impact rental demand.
However, in the midst of the many dire scenarios, there will always be opportunities. Seasoned investors have often secured their best deals during times of turmoil. With the sterling’s recent decline of over 10% (relative to USD) it has not only offset recent stamp duty increases, but may also cover any potential reductions on lower rents, good news for foreign investors. For those with a long term view, buying property is still a good investment, particularly when compared to alternative investment options.
For some sellers, we have had to have the difficult conversation of price reductions, but we’ve also successfully completed sales transactions, so deals are being done. For those sellers who have owned their properties for a long time, prices in London are still well in excess of the low points of 2007 and 2008, meaning that they are likely to be selling at a profit. But now more than ever, it is important to price to the market and being armed with the latest data and information is critical. In addition, with interest rates that are still historically low, first time buyers may also have a unique opportunity to get on the property ladder.
Only time will tell what the long term landscape of United Kingdom outside the EU looks like, but for London, the fundamentals remain compelling:
• Significant shortage of housing relative to supply
• Stable regulatory and legal system
• World class education and cultural institutions.
With a long term strategy, the London property market will continue to be a sound investment.
Property buyers and sellers should consider the facts and make decisions based on reality, not fear or misconceptions. Those who will need to move will still do so and those needing shelter will still look to buy or rent. It is easy to make a good investment in times of stability and upward trends, but more challenging in times of turmoil and uncertainty. However, given the historical returns of the property market, it is still a worthy consideration.
If you are concerned about your property investments or would like to discuss the Brexit effect, please contact us for a free consultation
Published: 25/06/2016 Last Updated: 01/09/2016 14:27:56 Tags: Alfies View
Published: 24/06/2016 Last Updated: 01/09/2016 14:27:26 Tags: Alfies View
Published: 23/06/2016 Last Updated: 01/09/2016 14:27:23 Tags: Alfies View
Published: 22/06/2016 Last Updated: 01/09/2016 14:27:17 Tags: Alfies View
Published: 19/05/2016 Last Updated: 01/09/2016 14:19:48 Tags: Alfies View,
Published: 09/05/2016 Last Updated: 01/09/2016 14:23:11 Tags: Alfies View
Well Spring certainly arrived with a bang! What a fantastic weekend. I was fortunate enough to be taken to Marlow in Bucks, for a walk through the bluebells and with temperatures hitting 27 degrees, it really was glorious! Hopefully the good weather will have the usual effect on the property market and the team will notice a surge of buyers and tenants! Ria, Niki and Nigel would love to see you for a coffee in the office and to discuss any property queries you may have.
Published: 21/04/2016 Last Updated: 01/09/2016 14:59:40 Tags: Alfies View
Published: 14/04/2016 Last Updated: 01/09/2016 14:59:48 Tags: Alfies View
Published: 07/04/2016 Last Updated: 01/09/2016 14:35:49 Tags: Alfies View
Published: 04/04/2016 Last Updated: 01/09/2016 14:35:43 Tags: Alfies View
Published: 15/03/2016 Last Updated: 01/09/2016 14:24:25 Tags: Alfies View
We are delighted to be sponsoring Nigel's daughter Jess, in her first ever London Marathon on April 24th. She will be wearing the Malverns colours as well as those of the Katie Piper Foundation, the Charity Jess is raising money for. We are hoping to help her raise her target of £3000, with a little bit of help from our loyal friends and customers. She is already half way towards her target and we believe that with a little push and some small donations from malverns clients, we can push her over the target. Katie Piper is a Charity that raises awareness and money for burns victims as well as acid attack victims. Please give generously if at all possible. https://justgiving.com/jesshumphriss
Published: 22/02/2016 Last Updated: 01/09/2016 14:36:16 Tags: Alfies View
Published: 05/01/2016 Last Updated: 01/09/2016 14:33:30 Tags: Alfies View