Notting Hill Flats & Houses For Sale & Rent

Wall Street Journal View Of London Property

noreply@blogger.com (London Estate Agents) — Sun, 15 Jan 2012 18:07:00 +0000

How long can London's property market defy gravity asks the online Wall Street Journal? House prices in the capital rose in December, even as prices elsewhere stayed flat or fell, says the Royal Institution of Chartered Surveyors.

Prices in prime central London are around 16% higher than their September 2007 precrisis peak. Some forecasters predict a further 25% jump by 2016, as foreign investors continue to seek havens for their cash. But downward pressures are likely to intensify this year.

Foreign buyers account for more than half of the sales of London's most desirable residences, helping shield the market from a domestic downturn. Many have large chunks of equity to invest, so are less affected by the mortgage-lending squeeze. Recent sterling weakness against many currencies—down 20% against the dollar since the start of the crisis—has added to London's allure, while ultralow interest rates have kept a lid on distressed sales.

So long as the economic uncertainty continues, the torrent of foreign cash flowing into London property—an estimated £6 billion, or roughly $9 billion, in the 18 months through mid-2011—will likely be sustained. But the top end of the market is sensitive to the global picture. If the euro crisis is resolved or the world economic outlook improves, overseas investors might turn to riskier, higher-return assets. A rise in sterling or a fall in commodity prices are other possible factors.

London property isn't cheap by any measure. Yields are low—at 3.9%, compared with 5% in the wider U.K. housing market and up to 7% for prime offices in most European capitals. Soaring prime central London rents, up 25% since mid-2009, have provided some support to valuations, but an estimated 55% of "prime" tenants work in financial services, where heavy job losses are on tap. Yields are likely to remain flat into 2016, estate agent Savills says.

Meanwhile, the average house price in London is equivalent to 7.8 times earnings for a typical first-time buyer, compared with an average of 4.8 times across the country, website Findaproperty.com estimates. Such a disparity looks unsustainable, and provides a strong incentive for capital-dwellers to relocate and investors to seek better value elsewhere.

Prime London Property Sales Numbers Increased By 17%

noreply@blogger.com (London Estate Agents) — Thu, 22 Dec 2011 13:21:00 +0000

The value of prime property in central London shot up by 13 per cent in 2011.This is according to the latest Knight Frank Prime London Sales Index, which states that homes in the area are now at the their highest ever levels. Properties priced between £2.5 million and £5 million saw the largest growth, increasing by 16 per cent on average, while those valued over £10 million increased by 12 per cent.The average prime property in central London is now worth around £3.19 million and has seen a value increase equivalent to £1,202 each day over the past 12 months. Sales numbers have increased by 17 per cent year-on-year, but this is largely due to high take up of properties at £5 million or less, which are up by an incredible 20 per cent.It is widely believed that funds from cash-rich investors from overseas is helping to drive up the luxury homes market in the capital. London Property Market News

Mortgage Rate & Home Loan News: House prices in the UK stay steady

noreply@blogger.com (London Estate Agents) — Thu, 15 Dec 2011 10:00:00 +0000

There was no movement for house prices in the UK in November, according to the latest England & Wales House Price Index from LSL Property Services/Acadametrics.

However, just because house prices have remained static, people should not assume that they are not becoming more affordable.

David Brown, commercial director at the firm, said that zero growth means that in real terms houses are becoming more affordable.

"With inflation running at five per cent the real cost of property is getting smaller and smaller, which is good news for buyers and mortgage borrowers alike," he added.

The data showed that the average house price in the UK now stands at £220,043.

Mr Brown said that while over the past year house prices have dropped 0.7 per cent, low mortgage rates, the stamp duty holiday and the government's FirstBuy scheme have prevented larger falls.

Recent data from Halifax showed that 2011 has so far seen five months of price falls and the same number of rises, with one month of no change.

Mortgage Rate & Home Loan News

Pubs and Schools Are Driving Force Behind Stable House Prices

noreply@blogger.com (London Estate Agents) — Fri, 25 Nov 2011 08:43:00 +0000

A good range of local pubs or eateries coupled with quality local schools is the driving force behind solid house prices in most regions, say the people behind first-time buyer news site FirstRungNow.com.

Helen Adams, managing director of the website, believes that being able to wine and dine locally in a hip and trendy setting gives a great boost to property values.
She said: "Schools are important and people do move to areas for schools, but also if there's a thriving social life - restaurants, cafes and bars - that can also keep prices up too."

Ms Adams added that smaller towns and regions that have good commuter links to big cities such as London will always perform well no matter what the market conditions are at the time.

With that in mind, it is probably advised that those planning on purchasing a property check out the quality of the pubs and restaurants, while those of you looking to buy a pub should investigate the area's local amenities, schools and transport links.

Gastro pubs in particular remain a sound investment, with the All Party Parliamentary Beer Group stating last week that food sales are good way for any licensed premises to make money.

London House Price News

City Bonus Cuts Impact on London House Prices

noreply@blogger.com (London Estate Agents) — Thu, 10 Nov 2011 10:07:00 +0000

Regents Park Flats & Houses For Sale & Rent: City Bonus Cuts Impact on London House Prices: Job cuts and falling bonuses in the City could cause house prices to drop in London, according to a report, London Loves Business writes. ...

Kensal Rise Flat For Sale, NW10

noreply@blogger.com (London Estate Agents) — Tue, 25 Oct 2011 10:43:00 +0000

Leghorn Road, Kensal Rise, NW10

A newly refurbished ground floor two double bedroom garden conversion in this popular area within easy walking distance to Kensal Rise/Green and Willesden Junction.

This superb flat benefits from wood floors in the reception and hallway, modern fitted high gloss kitchen with appliances, contemporary 3 piece bathroom and sole use of the rear garden.

View this realistically priced garden flat now!!

London NW10 Flat for Sale, Kensal Rise

Kensal Green New Development Property for Sale

noreply@blogger.com (London Estate Agents) — Tue, 18 Oct 2011 09:28:00 +0000

Harrow Road, Kensal Green, London, NW10

New development in Kensal Green - £285,000- £395,000 with a 10 year BLP building guarantee.

As Joint sole agents we offer this bespoke development of fourteen one and two bedroom flats, most with balconies and gardens and all benefitting from a very high specification.

The flats benefits from spacious receptions and entrance halls with wood floors, fully equipped kitchens with granite work surfaces, contemporary bathrooms, en suites to the master bedroom (in the two bed units) and a lift to all floors.

The block has landscaped communal gardens, video entry system and has the latest energy efficient heating and water systems.

The development is ideally located for Kensal Rise, Kensal Green, Queens Park, Ladbroke Grove and Notting Hill. Call now for an appointment.

West London Property for Sale £349,950 Leasehold

Ladbroke Grove Property For Rent, Harrow Road

noreply@blogger.com (London Estate Agents) — Fri, 23 Sep 2011 15:05:00 +0000

Harrow Road, Ladbroke Grove, London, W10

A contemporary one double bedroom apartment set on the ground floor of a private gated development. The property offers dark wood flooring, open plan fully fitted modern kitchen to spacious and bright reception and modern bathroom. Other benefits include 24hour security, a south facing private balcony with views over the grand union canal and off street parking for 1 car. Available Now. Furnished or Unfurnished.

London Apartment in Gated Development for Rent

Redevelopment Property For Sale Near Portabello Road

noreply@blogger.com (London Estate Agents) — Mon, 19 Sep 2011 09:26:00 +0000

London Freehold Listed Building for Sale

North Kensington (Cobden Club)
Kensal Road
London
Greater London
W10

GIA: 8397 sq/ft*

£ 3,000,000

Located on Kensal Road in a wonderful Grade II listed building is the "Cobden Club" a members only bar just a stones throw away from fashionable Portobello Road.

Kensal Road leads off the northern most end of Ladbroke Grove, at the Sainsbury's roundabout. The Club is the last building on the left side of the road, just before Meanwhile Gardens.

The building would be suitable for continued use/owner occupation/conversion or redevelopment (STPP).

Planning permission has been granted subject to a S.106 for the conversion of the existing building into a ground floor gallery & 3 residential dwellings (1x1 bed Apt, 1x2 bed apt & 1x4 bed hse)

GIA 8,397sq.ft

S.106 contribution approximately £3,000

The seller is seeking OIEO £3,000,000

Cobden Club West London Residential and Commercial Property for Sale

Family Property For Rent, Kensal Rise

noreply@blogger.com (London Estate Agents) — Tue, 13 Sep 2011 11:54:00 +0000

Kensal Rise House for Rent

A beautiful two storey family home just off the Harrow Road and Salusbury Road and with easy access to Notting Hill. The property has a large reception room with bay window and working gas fireplace, downstairs wc, spacious kitchen/diner with modern appliances and with French doors leading out to a private patio garden. To the upper floors are three large double bedrooms and a fourth room which can be used as a study/walk in wardrobe and a large bathroom with roll topped bath and separate shower enclosure, available unfurnished/part furnished from 12th September.

Berens Road, Kensal Rise, London, NW10

Notting Hill Carnival: Westminster cleans up 70 tonnes of waste

noreply@blogger.com (London Estate Agents) — Tue, 30 Aug 2011 10:36:00 +0000

More than 70 tonnes of waste has been cleared up by Westminster City Council during Notting Hill Carnival weekend - involving an army of 170 cleaners and 60 vehicles which swept into action.

The mammoth operation was masterminded with Westminster's cleansing contractors Veolia, which also sorted through the mountain of waste in a bid to recycle as much as possible - salvaging more than 100,000 plastic bottles and drinks cans. This year the enforcement team also made sure that street traders and static sound systems complied with the early finish with helpful reminders from 6pm.

In addition to clearing the 24 Westminster streets Carnival passes through, more than 500 residents have taken advantage of a free cleaning service for private front gardens and basements - so those living on and within the carnival route can have their own property returned to its prior pristine condition, along with the road outside

Westminster to save money and toilets under innovative proposals

noreply@blogger.com (London Estate Agents) — Mon, 20 Jun 2011 11:14:00 +0000

Westminster Council is to save taxpayers more than £2million while planning to preserve public conveniences across the city.

Plans are being drawn up which will see the council’s 21 permanent sites being leased out to a private company while the council will continue to provide mobile urinals in the West End at the weekend.

It will also continue to provide 18 accessible facilities on street level.
The council will also continue to provide temporary public conveniences during Notting Hill Carnival.

Currently it costs the council £2,115,000 a year to run the 21 conventional sites even though local authorities have no statutory duty to provide public conveniences. This has led to a significant decline in the number provided nationally with the problem particularly acute in London. The capital has seen the biggest decline in the number of local-authority run public toilets – a closure rate twice that of the country as a whole.

However Westminster has bucked this trend by providing a high quality and extensive network of public conveniences throughout the city and are visited 8 million times a year. The council has previously won the “Loo of the Year” award and is a current member of the British Toilet Association’s “Champions League” for having 21 4* and 5* rated public conveniences, and the council believes these proposals will allow this provision to continue.”

Some of the toilets cost the council more than £1 a visit, and the council has had to focus its resources elsewhere.

Notting Hill Listed in Zoopla Property Rich List

noreply@blogger.com (London Estate Agents) — Sun, 05 Jun 2011 08:54:00 +0000

Britain's Property Rich List 2011, released today by leading property website Zoopla.co.uk, reveals Kensington, London W8, to be by far the most expensive neighbourhood in the country to live, with average house prices there standing at almost £1.75 million.

Britain is now home to 220,131 Property Millionaires, down from 223,119 this time last year, and has 5,922 Million Pound Streets, where average house prices are over £1 million. London tops the list of places with the most Million Pound Streets by far with 2,290, followed by commuter hotspot Guildford with 89 and footballer’s paradise, Cobham, in third place with 78.

The average home in Kensington now costs £1,737,862 according to the study by Zoopla.co.uk, which provides free online value estimates for every home in the UK. And whilst this is £400,000 more than its nearest rival Chelsea, SW3 where the average pad will set you back £1.32m, all of the top five neighbourhoods on the list boast average property prices of over £1m and includes Knightsbridge, SW7 (£1.31m), Notting Hill, W11 (£1.17m) and West Brompton, SW10 (£1.05m).

The top 10 most expensive neighbourhoods in the country are almost entirely in the capital, with the only exception being seventh placed Virginia Water, Surrey GU25, home to exclusive Wentworth Golf Club, where average house prices are £936,653. And nine out of the top 10 on the list have seen average house prices fall over the past 12 months, with the only exception being Hampstead, London NW3.

Topping the list of the most expensive streets in Britain once again is Kensington Palace Gardens, W8 – also known as Billionaires Row - where the average property price is a staggering £19.2 million. This exclusive gated street is home to Saudi and Brunei royalty, Russian oligarchs and Britain's richest man, Lakshmi Mittal, who owns not one but three properties on the street.

Harrow Road Businesses Given a Makeover

noreply@blogger.com (London Estate Agents) — Tue, 24 May 2011 12:56:00 +0000

Business is to be given a boost on Harrow Road thanks to a £250,000 injection to improve the area.It follows similar work on other stretches of the road which have seen the arrival of the new Maida Hill market and paving and lighting improvements, all helping to create an environment in which business can flourish.

Now a parade of shops, between Cirencester Street and Bourne Terrace, owned by Westminster City Council, is having similar treatment.The shops have struggled parades in Westminster according to a retail survey in 2006/7 and have further suffered from the recent loss of a Post Office which brought extra shoppers into the area.

Re-surfacing will help stop water pooling and will provide a more even finish. Meanwhile removing sections of guard railing will prevent the shops from looking “penned in” and give them more of an accessible feel.

The work is expected to be complete by the end of May

Landlord and Tenant News: Tenancy Deposit Scheme 'protects landlords and tenants'

noreply@blogger.com (London Estate Agents) — Fri, 20 May 2011 08:24:00 +0000

Initiatives such as the Tenancy Deposit Scheme protect both landlords and renters from confusion over inventories, LettingFocus.com has stated.

David Lawrenson, buy to let and private rented sector expert at the site, commented that such schemes were originally brought in because some tenants were not getting their deposits back.

While there were "undoubtedly" some "rogue landlords" who unfairly held on to deposits, there were also "rogue tenants" who left properties messy, which added to costs for the landlord.However, these problems can be negated with an inventory taken at the beginning and the end of a lease.

"A proper inventory matters to both parties because a landlord can only make a deduction if the tenant causes damage to a property or its contents or its state and condition - between the beginning and the end of the tenancy - and which is beyond normal fair wear and tear," Mr Lawrenson added.

His comments come after the Council of Mortgage Lenders revealed buy to let funding totalled £2.9 billion in the first three months of 2011.

Landlord and Tenant News

Apartment for Rent, Ladbroke Grove

noreply@blogger.com (London Estate Agents) — Tue, 03 May 2011 12:11:00 +0000

Ladbrok Grove Duplex Apartment for Rent

A stunning modern 2 double bedroom duplex apartment situated on the second and third floor of a private gated development. The flat comprises of a large bright reception/diner with modern open plan fully fitted kitchen, large balcony overlooking the Grand Union canal, modern bathroom and ample storage. Further benefits include 24hr security/Porter, OSP for 1 car and an interior designed finish, unfurnished or furnished, NOW!

Harrow Road, Ladbroke Grove, London, W10

Westminster's Residential Parking Policy Review

noreply@blogger.com (London Estate Agents) — Sun, 01 May 2011 14:16:00 +0000

A survey on parking restrictions in Westminster ran between 22nd November 2010 to 7th January 2011 and attracted responses from 905 people made up of Westminster residents, businesses and visitors.

Around 90% of respondents live in London, over half (58%) are Westminster residents while around 40% are resident parking permit holders.

As part of the council’s investigation into parking, it has also carried out an automated traffic count survey and an occupancy heat map survey of traffic. It has held multiple meetings with local business and resident groups to ensure their views are taken on board.

The council’s cabinet will meet on May 9th to debate the parking proposals.
There will then be a period of further consultation before the final parking policy recommendations are decided by the council’s cabinet in July

Other findings include:
• More than 90% of respondents said they now received deliveries at their home address following the growth in online shopping.

• More than 20% of people believed there was a need for more dedicated car club parking pays while 28% disagreed.

• A significant number of respondents (70%) said they walked or cycled on a week day compared to 25% who used cars – although this figure increases on the weekend

• Eight percent of respondents felt that parking for ‘environmentally friendly’ vehicles should be a priority in Westminster, while 4% believed that the council should do more to encourage the use of electric and other ‘green’ vehicles.

London Marathon Clean Up Operations

noreply@blogger.com (London Estate Agents) — Fri, 15 Apr 2011 14:21:00 +0000

More than 50,000 discarded plastic water bottles will be recycled from this Sunday’s London marathon, council chiefs announced today.

Westminster Council said it would recycle almost two tonnes worth of the plastic containers used by the runners during the 26.2mile race.

Special recycling bins will be sited along the route in the city to make it easier for the runners to deposit their bottles.

Any bottles left on the ground will be removed by the council's 40-strong street cleaning team which includes 23 manual sweepers and 14 vehicles.

The recycled plastic can also be used for everything from eco-friendly clothing to upholstery for car seats.

The council also expects to clean up at least a tonnes worth of cardboard and litter.

Westminster’s cleaning contractors Veolia have just three hours to return the city’s streets to normal following the marathon. Their record, however, stands at 1 hour 20 minutes.

The clean-up operation comes two weeks before the royal wedding when Westminster’s street cleaning team will swing into action to ensure the wedding route looks immaculate.

London Landlords Struggle to Reduce Rents

noreply@blogger.com (London Estate Agents) — Sun, 03 Apr 2011 11:22:00 +0000

Landlords who own property to rent in London and other parts of the UK might not find it practical to lower rents in the current financial climate, according to the National Landlords Association (NLA).

Chris Norris, policy manager at the organisation, pointed out: "A landlord's ability to lower the rent in respect of his properties is inescapably linked to his own circumstances.

"While property may represent a financial cushion for some landlords; the overwhelming majority are faced with the same economic hardships as everybody else and will only be able to lower rent levels if it is economically viable to do so," he explained.

This is particularly true if landlords have taken up UK mortgage offers, meaning they have to ensure the rent they charge covers their overheads.

Mr Norris's comments come after research from first direct revealed ten per cent of mortgage holders who have come to the end of their current deal would look around for a different offer if rates went up by one per cent a month.

London Property to Rent

Change of Use News: Change of use applications 'are on the increase'

noreply@blogger.com (London Estate Agents) — Thu, 17 Mar 2011 15:21:00 +0000

Planning applications concerning change of use are on the rise, according to research from a law firm.EMW's figures show the number of change of business use submissions ï»¿increased by nine per cent to 6,200 in the second quarter of 2010 and grew ten per cent to 6,800 in the following three months, Building.co.uk reported.

"The jump in planning applications for change of use shows that landlords and developers are now willing to take action and commit resources to try and get into the segment of the property market where there is the most demand locally," explained Giles Ferin, planning specialist at the commercial law firm.

Owners of commercial property in London and other parts of the UK could run into difficulties when local authorities want to "preserve the mix of different uses", as it means they are sitting on vacant property because there is no demand for that type of building, he added.

The research comes as Nottingham City Council announced landlords in the city will have to obtain planning permission if they want to open their rental property up into a shared house for up to six unrelated people.

Change of Use News

Kensal Road Property for Sale

noreply@blogger.com (London Estate Agents) — Mon, 14 Mar 2011 12:44:00 +0000

West London Property for Sale

North Kensington (Cobden Club)
Kensal Road
London
Greater London
W10

Gross External: 10700 sq/ft*

£ 2,500,000
Freehold

Located on Kensal Road in a wonderful Grade II listed building is the "Cobden Club" a members only bar just a stones throw away from fashionable Portobello Road.

Kensal Road leads off the northern most end of Ladbroke Grove, at the Sainsbury's roundabout. The Club is the last building on the left side of the road, just before Meanwhile Gardens.

The building would be suitable for continued use/owner occupation/conversion or redevelopment (STPP).

The seller have drawn an indicative scheme for a mixed used development however not submitted an application.

Proposed Plans are available upon request

Arranged over ground and two upper floors the building comprises of approximately 10,700sq.ft .

GROUND FLOOR: Reception, Main bar.
FIRST FLOOR: Restuarant, lounge bar, private dining room.
SECOND FLOOR: Grand hall, games room

Greater London Property for Sale

EPC's Have little Impact on Homebuyers

noreply@blogger.com (London Estate Agents) — Sun, 06 Mar 2011 10:58:00 +0000

Energy Performance Certificates (EPCs) are having little impact on prospective homeowners, research by Consumer Focus has found.

A survey by the watchdog found 80 per cent of those looking for new homes to buy or rent would not be influenced by a property's EPC, despite one in seven people stating that their new home's energy efficiency is the most important aspect to them.

Landlords and homeowners are legally required to provide an EPC when letting or selling a home.

Spencer Lawrence, director of lettings at Paramount, pointed out: "Tenants select rental properties based on various factors including proposed rent, location and condition.

"The information contained within an EPC does not in our experience have any bearing on a tenant's decision to take one apartment over another - it doesn't seem to be part of their thought process, so its place in the market is unclear," he added.

Meanwhile, the government has announced that accredited Green Deal providers will be able to approach properties with EPCs to offer tailored advice.

Landlord and Tenant News

Westminster Council To Rip Out Traffic Lights

noreply@blogger.com (London Estate Agents) — Wed, 02 Mar 2011 19:00:00 +0000

Dozens of traffic lights are to be ripped out and one-way streets removed to help ease congestion in central London, Westminster Council announced.Clamping and towing will also be reintroduced to tackle the hardcore of motorists – including many foreign drivers - who run up hundreds of pounds worth of parking fines, the council said.

The announcements come as Westminster was due to set its budget priorities for 2011/12 at a full council meeting this evening (2 March) with a commitment to protect core services for the city’s most vulnerable people.

Over the next two years, the council is set to make savings of around £60 million – the majority of which will come from the back office with a focus on reducing unnecessary process, bureaucracy and red tape. This includes the savings the council has generated to date from its ongoing restructure.

Around 450 jobs are also set to go, many from middle and senior management, but despite the tough economic climate, Westminster - unlike a number of other local authorities - will not close a single children’s centre or cut any leisure or sporting facilities.

The council has also frozen council tax with a band D charge of £687.62 – the second lowest rate in the country.

London House Price Rise by 4.2 %

noreply@blogger.com (London Estate Agents) — Sun, 20 Feb 2011 16:46:00 +0000

London house prices have risen by an average of 4.2 per cent in the last month, according to research from Rightmove.

The property website's House Price Index reveals that potential homeowners hunting for properties in the capital will be part of a three-tier market consisting of the low loan to value 'elite', the 'bargain-hunting bottom feeders' and the average buyer in the middle.

The middle tier is suffering from "paralysis" because of a lack of UK mortgage offers and "insufficient equity to trade up", the website said.

Miles Shipside, director of Rightmove, commented: "With lenders stating that they expect mortgage lending to remain static at around 2010 levels throughout 2011 and new seller numbers practically unchanged year-on-year, what might have been seen as a passing phase of low transaction levels in the housing market now looks set to be the norm for the foreseeable future."

London House Price News

Local London News; Fix My Street

noreply@blogger.com (London Estate Agents) — Tue, 01 Feb 2011 11:08:00 +0000

Have you ever wanted to report a problem in your area but don't know who to contact? Have you spent ages on the phone trying to speak to someone at your local council? If so, this website is for you.

The charity mysociety.org in conjunction with Young Foundation launched fixmystreet.com in 2007 and provides residents with a quick and easy way of reporting things in their area that are broken, dirty, damaged, dumped, needs fixing, cleaning or clearing.

To use the site, all you just need to enter your postcode or location, and then you can view problems already reported in your area, or report your own by clicking your location on the map provided.

All reported problem will be sent to the relevant council by email. The council can then resolve the problem through their normal procedure. Local residents are also able to discuss the problem with others on the website by providing an update.

Please visit the website for further information, to sign up for alerts or to start reporting your problems.

London Property News