Musings of a London Property Search Agent

The Land Registry House Price Index was released today with a mixed bag of news for property search agents, homeowners, buyers and sellers across the UK. 

Prices continued to drop in January, according to the index to 15.1% less than a year ago, 14.1% less for London residents.  Prices in the Royal borough have dropped 10.1%.  Jemima Khan has removed her £26million Chelsea pad from the market, we understand, and Hugh Grant has a budget of £20million.  Lucky him - we hope he is no just relying on his estate agent, who will be working for their Clients, the VENDORS, for advice!  Hugh - if you are reading, our number is 020 7923 7564 and we know we are one of the hardest working London Home Search Agents around!

There are still a few London boroughs where average drops are yet to hit double figures, with Westminster and Greeenwich leading the way on -6.4% and -6.9% respectively.  Definitely a reason to use a good London property search Agent if ever I heard one.  We do a substantial proportion of our business in the borough of Westminster, which covers Mayfair, Marylebone, Notting Hill, St James and Bayswater and I don’t know when we last agreed a sale with as low a discount as -6.4%.  In fact we would be pretty embarrassed to negotiate such a measly saving.  We have to save our savvy Clients at least 10% before we get any reward at all!!

I digress.

Richmond prices have dropped the most: -15.4% apparently, and that’s without the traditional flooding giving buyers the jitters.

Good news for Hackney vendors: average prices rose 0.1% in Hackney in January, helped no doubt by the transport improvements which are only a year away now.  Trendy Stokey is traditionally a favourite of bohemian media luvvies: could the news that the Olympic Media Centre is to be a permanent structure providing a legacy for the young people of Hackney also be a factor?

Other London Property Search Agents may have different experience, but only our investors and developers are interested in Hackney at present.

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Tags: Chelsea Buyers Agents, Greenwich house prices, Hackney house price rises, House Price Rises in Hackney, Hugh Grant property search, Jemima Khan property, Jemima Khan property search, London Property Search Agent, Westminster London Property Search Agents, Westmister House Prices