Musings of a London Property Search Agent

Over the bank holiday The Sunday Times led with the story that an energy tycoon from Khazahkstan has paid £15 million for Prince Andrew€™s home, Sunninghill Park in Ascot. Not perhaps an astounding sum for the former home of a member of the Royal family, however it turns out that the house was being marketed at an upper guide price of only £12 million and no other buyers were in the frame.

The 12 bedroom home was built for Andrew and Fergie on the instructions of the Queen following their wedding and has famously but rather embarassingly lingered on the market for 5 years until Keres Rakishev and his father came along.

If you have an extra £3m to gift to the vendor of your new home then you probably don’t need our expert negotiating skills but making use of them will mean you don’t end up paying over the odds for a property, which would definitely be better for your street cred.

For those of you without your own oil well – let this London Property Search Agent help you to make a move!

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Tags: Ascot prices, £3 million gift, house prices in south east, London Property Search Agent

Musings of a London Property Search Agent

Demand for residential rental property continues to grow according to the Quarterly Residential Lettings Survey published by the RICS (Royal Institution of Chartered Surveyors) .

RICS members also report rent increases and a rise in yields as the credit crunch continues to prevent those without adequate savings climbing onto the property ladder and other buyers postpone a purchase. Interestingly, whilst they report a significant rise in rents across the South East, their findings suggest that Greater London has seen the weakest rental growth, but as with all surveys, it all rather depends on location.

The British preference for houses over flats has fuelled the boom. Supply and demand for houses continues to grow and yields have increased at a faster pace for houses as for flats. The slow sales market has persuaded would-be sellers to rent their homes instead of putting them on the market and buyers hoping for a slump are renting instead of buying. The increase in yields for houses shows that the supply: demand ratio is still tipped towards landlords, which will persuade many to buy again.

From our perspective, as London Property Search Agents, first time buyer enquiries have increased exponentially this year as people want to get on to the property ladder but see the need for professional help in this marketplace. It is all very well waiting for the bottom of the market, but if there isn’t much difference between renting and buying then why wait? You should be able to buy the right property at the right price regardless of the market. If you know what you are doing and if you have an affordable mortgage, you shouldn’t lose money in the long term.

This London Property Search Agent is waiting to help you.

Technorati Tags: House rents rise, London Property Search Agents, London Property to rent, Rental market buoyant, South East rent rises

Tags: House rents rise, London Property Search Agents, London Property to rent, Rental market buoyant, South East rent rises