In wanting to provide you with some expert insight on the property market in London and the rest of the United Kingdom we have teamed up with some of the country’s leading figures in Real Estate through Buy Association, Sotheby’s and presenter, producer and Instagram influencer Charli Fisher who along with her wealth of knowledge in the luxury sector including fashion, travel and property is currently working on a documentary and has covered a useful property insider podcast series that you can download 100% free of charge.
In the series Charli asks our experts for their insights into today’s market as we hear thoughts from leading professionals based in central London, looking at issues affecting the capital as well as the wider UK property market in general.
Part one of the podcast covers foreign investment with insight over 24 minutes long with the second episode on how to buy a property and the third covering everything you need to know about selling your property. The podcast series is available to download on Spotify and you can click the links below to instantly listen in full.
- Episode 1: Foreign Investment (podcast) 24.05
- Episode 2: How To Buy A Property (podcast) 18.38
- Episode 3: How To Sell Your Property (podcast) 16.14
If you don’t have time to listen to the podcast series fear not. Charli and four other leading experts in property including Shereen Akhtar, Jason Corbett, William Tremlett and Guy Bradshaw of Sotherby’s have been interviewed below with their quick fire thoughts on the property market and it’s outlook beyond this year.
Quick Fire Interviews with 5 Industry Insiders
Charli Fisher, host of The Property Insiders Podcast brings you her thoughts below.
Where would you consider investing in property? I would look into buying a property on the Crossrail (Elizabeth line) as the value of these properties is forecast to increase of the next few years.
What are your top three factors to consider when buying a property?
- Location
- Space
- Investment potential
The north-west, Midlands and Yorkshire regions are pulling some good numbers. Is it worth considering investing beyond London? Yes, there are high levels of regeneration in certain areas outside of London. Commuter locations in these areas are especially worth considering.
If you could change one thing affecting the property market, what would it be? A firm decision on Brexit.
What’s the biggest opportunity in the market right now? Prime location properties that are for sale. There is currently more room for negotiation with these sellers.
Shereen Akhtar, head of Mayfair and Marylebone at Sotheby’s
What’s the biggest change you’ve seen in the property market over the last 10 years? The rise of new-builds in areas which were not worth considering 10 years ago. With developers discovering new pockets of London with potential, there has been a significant rise in new-builds, and the London skyline has transformed.
If you were going to invest in a property, where would you consider? Greenwich Peninsula – a whole new swathe of London that brings together culture, community, design and architecture to create an amazing 21st century space.
What are your top three factors to consider when buying a property?
- Location
- Lifestyle
- Investment aspect
The north-west, Midlands and Yorkshire regions are pulling some good numbers. Is it worth considering investing beyond London? If you’re looking at build-to-rent and PRS schemes, yes. It’s worth investing in residential unbroken blocks which attracted the rental market.
What impact do you think Boris Johnson’s potential changes to stamp duty would have on the market? It would change the market place drastically if the stamp duty reform was to encompass the 3% levy added onto the purchase of additional properties. It would also assist those looking to get onto property ladder, downsizers and give upsizers more options.
Which is making a bigger impact on the property market right now – Brexit or recent changes to regulations affecting landlords (e.g stamp duty increase, mortgage tax relief, letting fee bans, etc)?Brexit, the uncertainty associated with it and stamp duty.
If you could change one thing affecting the property market, what would it be? Stamp duty – lessen the percentage and abolish the 3% levy.
What’s the biggest opportunity in the market right now? Developers looking to sell units with discounts in the right areas. A combination of discounts, currency play (if you’re purchasing in dollars) and the correct areas means you could potentially purchase a solid investment opportunity with capital growth, in areas like Fitzrovia, Soho and Greenwich.
Jason Corbett, head of country office at Sotheby’s
What’s the biggest change you’ve seen in the property market over the last 10 years? The level of confidence in a rising market, that and with so much information available, a belief from buyers and sellers that they have as much experience or understanding of the local market as many seasoned agents.
Where would you consider investing in property? HMO properties wherever they may be, based on net yield.
What are your top three factors to consider when buying a property? It depends if it is a longer term family home or a short term residence.
- Capital growth potential
- Location/convenience
- Expansion possibilities
The north-west, Midlands and Yorkshire regions are pulling some good numbers. Is it worth considering investing beyond London? Absolutely for the reasons given above.
What impact do you think Boris Johnson’s potential changes to stamp duty would have on the market? Ultimately, it will be great for the market. More buyers = more sales = more fees from agents, builders, gardeners, solicitors. Plus more sales = more stamp duty net = higher tax returns. That on top of a more market-led property market due to the increasing fluidity of sales. But short term of course, disaster whilst people wait for the change to take effect.
Which is making a bigger impact on the property market right now – Brexit or recent changes to regulations affecting landlords (e.g stamp duty increase, mortgage tax relief, letting fee bans, etc)? Both combined have been a disaster.
What’s the biggest opportunity in the market right now? Buy now before the market settles back into its usual rhythm. Sellers are keen to sell and will negotiate to their bottom line. When the market improves and everyone rushes to buy due to waiting for three years, you’ll not be negotiating to the bottom line, but to your competitor’s top line. It happens time and time again.
William Tremlett, head of Belgravia and prestige sales at Sotheby’s
What’s the biggest change you’ve seen in the property market over the last 10 years? A staggering number of boutique developments providing unrivalled services/facilities have taken more away from the traditional stock than was thought.
Where would you consider investing in property? Prime areas which have lost out to more fringe areas offering better bang for the buck. Prime areas are now looking better value than two or three years ago.
What are your top three factors to consider when buying a property?
- Volume/size
- Location
- Best in class
The north-west, Midlands and Yorkshire regions are pulling some good numbers. Is it worth considering investing beyond London? Yields are better but capital growth is less.
What impact do you think Boris Johnson’s potential changes to stamp duty would have on the market? The selling market may get more competitive as the SDLT will be less of a subliminal tax on the seller. The market will dictate price rises but initially there will be little price boost.
Which is making a bigger impact on the property market right now – Brexit or recent changes to regulations affecting landlords (e.g stamp duty increase, mortgage tax relief, letting fee bans, etc)? Brexit and regime change is stalling decisions and sentiment to purchase. Stamp duty is factored in when a purchase goes ahead.
If you could change one thing affecting the property market, what would it be? Improved confidence – less stamp duty, Brexit calming down. London is still world class for culture and finance.
What’s the biggest opportunity in the market right now? Prime area sellers who are now realistic but you may have to hunt for them!
Guy Bradshaw, head of London Residential at Sotheby’s
What’s the biggest change you’ve seen in the property market over the last 10 years? How transactions have changed. Investment for example is now so heavily judged on timing and currency. Any significant shift in the pound opens up avenues for foreign investment and strategic play with unemotional transactions purely to see returns on investment for shorter term capital growth. FX trading has grown and continues to grow in our sector and has a huge impact on how buyers and sellers do their transactions. It can save a lot of money!
Areas have changed – in London, mini “villages” have grown, amenities and green space is crucial and we have some world leading developments.
Where would you consider investing in property? Greenwich, Shoreditch, Covent Garden and Mayfair – all brilliant areas in their own right.
What are your top three factors to consider when buying a property?
- Does it fit my needs or does it fit the needs of a tenant?
- Transport links
- What is scheduled to happen in the area over next 10 years
The north-west, Midlands and Yorkshire regions are pulling some good numbers. Is it worth considering investing beyond London? There are exciting infrastructure changes happening across the UK and it is indeed worth looking outside of London – some of the yields outside of London are excellent.
What impact do you think Boris Johnson’s potential changes to stamp duty would have on the market? It will hugely benefit buyers and the property market as a whole – it’s the key driver slowing transactions in my opinion.
If you could change one thing affecting the property market, what would it be? Stamp duty (SDLT) needs changing.
What’s the biggest opportunity in the market right now? Currency and discount. Work with a broker who understands your market and seek advice, ask lots and lots of questions – experience is key as is knowledge.
About Sotheby’s International Realty
At UK Sotheby’s International Realty we provide you with an environment of excellence in which to sell, buy, let, invest and manage your property. We have 990 offices in 72 countries helping you take your property to a global market. With £89bn in annual value from 1,410 closed referrals, we make our network work for you.
While most of our homes are sold in the £1m-£2m range our unparalleled access means that we can also bring you the most exquisite properties. Our team has unrivalled local area specialists and our promise is that you will have one point of contact, alongside a dedicated China desk, India desk and a Middle East desk; we are your gateway to the global market. The collective experience of our team paired with thorough knowledge of the area means our advice will guide your next step to solid ground.
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Daniel Peacock