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Summer Update

Now it’s July, holiday time has really arrived here inCentral London. The temperature is rising, the tourists are smiling and Wimbledon is now just a distant memory, until next year of course… Things usually turn a little quieter as the great and the good retreat to their villas in Tuscany or their yachts in the Med, though that is not to say that there is nothing here to be done or reflected upon. I recently read that London now attracts 19 million visitors per year putting it right at the top of the visited city league. It is this attraction which brings investment of all sorts that protects the London economy from some of the peaks and troughs found elsewhere. However, for some time now agents have noticed certain properties on the market failing to get much interest, typically high spec properties with overly ambitious pricing. The number of incoming applicants on agency lists is falling. The number of valuations and consequent instructions we are seeing is gently rising. A bit of networking around my spies indicates that this is happening all over central London. This is not to say that the market is coming off, more to say that the froth has come off. Exuberant asking prices need to be checked if owners are to find genuine viewers, let alone a buyer. I believe that actual achieved prices have maintained a fairly steady path and you need ignore the distracting trajectory of asking prices to understand what is really happening. It is a point I make again and again. In these circumstances there is no substitute for experience. We are here to give straight advice and to sell your property at the best level at any given stage of the market. Over the years more and more of our business comes back to us as clients and landlords who have bought in the past understand our capabilities and want to resell or buy again. So if you have not retreated to your villa or yacht just yet and want an experienced hand at the helm please call. My co-directors and I will be delighted to discuss how to navigate the course ahead.  

Now it’s July, holiday time has really arrived here inCentral London. The temperature is rising, the tourists are smiling and Wimbledon is now just a distant memory, until next year of course…

Things usually turn a little quieter as the great and the good retreat to their villas in Tuscany or their yachts in the Med, though that is not to say that there is nothing here to be done or reflected upon. I recently read that London now attracts 19 million visitors per year putting it right at the top of the visited city league. It is this attraction which brings investment of all sorts that protects the London economy from some of the peaks and troughs found elsewhere.

However, for some time now agents have noticed certain properties on the market failing to get much interest, typically high spec properties with overly ambitious pricing. The number of incoming applicants on agency lists is falling. The number of valuations and consequent instructions we are seeing is gently rising. A bit of networking around my spies indicates that this is happening all over central London.

Dufour's Place view

This is not to say that the market is coming off, more to say that the froth has come off. Exuberant asking prices need to be checked if owners are to find genuine viewers, let alone a buyer. I believe that actual achieved prices have maintained a fairly steady path and you need ignore the distracting trajectory of asking prices to understand what is really happening.

It is a point I make again and again. In these circumstances there is no substitute for experience. We are here to give straight advice and to sell your property at the best level at any given stage of the market. Over the years more and more of our business comes back to us as clients and landlords who have bought in the past understand our capabilities and want to resell or buy again.

So if you have not retreated to your villa or yacht just yet and want an experienced hand at the helm please call. My co-directors and I will be delighted to discuss how to navigate the course ahead.

 

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