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Are We Falling in Love With Property Again?

Here we are in Februaryagain and the year has got off to a good start, well , apart from the weather and the tube strikes. I am not sure that here in the West End we have ever fallen out of love with property. I think we are more star-blessed than star-crossed and the relationship between the West End and its property will continue to run and run. Our current stock is selling well andselling faster than we can replace it. Just about all the stock we had on our books overhanging from last year is now under offer. We are now working hard to gain fresh instructions to offer to our domestic and global list of applicants just waiting for an opportunity to buy in the West End. The issues of the wider London and UK property marketare becoming less and less relevant to the immediate market here. For some years we have been shifting from a mainly domestic market to a mainly international market and I feel that we may have passed the tipping point. Property is certainly no longer as cheap to the overseas buyer as it used to be. Prices have continued their upward trend and just asimportantly we have seen a strengthening of Sterling. A quick check on Reuters shows thatroughly speaking, the pound has gained about 10% in the last year against the US, HK, Singapore, Chinese and Australian currencies. So if prices are getting stretched from an overseas perspective, why the continuing interest' The potent mix of reasons that overseas buyers like investing here, you can now add the currency switch. If the British Pound is perceived to be a one way bet then holding a Sterling denominated asset gives a further reason for buying and holding from an overseas standpoint. You may see this as an opportunity totake a profit or it may be that your own circumstances mean that now is a good time to think about selling. Either way I would love to hear from you and will be more than happy to discuss any aspect of the market and advise on the value of your property.   A Philpott

Here we are in Februaryagain and the year has got off to a good start, well , apart from the weather and the tube strikes. I am not sure that here in the West End we have ever fallen out of love with property. I think we are more star-blessed than star-crossed and the relationship between the West End and its property will continue to run and run.

Our current stock is selling well andselling faster than we can replace it. Just about all the stock we had on our books overhanging from last year is now under offer. We are now working hard to gain fresh instructions to offer to our domestic and global list of applicants just waiting for an opportunity to buy in the West End.

The issues of the wider London and UK property marketare becoming less and less relevant to the immediate market here. For some years we have been shifting from a mainly domestic market to a mainly international market and I feel that we may have passed the tipping point. Property is certainly no longer as cheap to the overseas buyer as it used to be. Prices have continued their upward trend and just asimportantly we have seen a strengthening of Sterling. A quick check on Reuters shows thatroughly speaking, the pound has gained about 10% in the last year against the US, HK, Singapore, Chinese and Australian currencies.

So if prices are getting stretched from an overseas perspective, why the continuing interest' The potent mix of reasons that overseas buyers like investing here, you can now add the currency switch. If the British Pound is perceived to be a one way bet then holding a Sterling denominated asset gives a further reason for buying and holding from an overseas standpoint.

You may see this as an opportunity totake a profit or it may be that your own circumstances mean that now is a good time to think about selling. Either way I would love to hear from you and will be more than happy to discuss any aspect of the market and advise on the value of your property.

 

A Philpott

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