LONDON, January 2, 2014 /PRNewswire/ --
Go Central, spot value and consider new build
Ashton Rose, the independent boutique property consultancy specialising in the sale and acquisition of premium properties in London, today highlights the key considerations for prospective buyers of London property in 2014, in a market with a much contested future.
With house prices in central London up 37% since 2005 and over 10% in 2013 alone, some see continued potential for growth in the market. The Royal Institution of Chartered Surveyors predict sales in 2014 reaching a record level, with 76pc more surveyors expecting sales to increase, the highest reading since 1998. This is supported by expectations of longer-term sustained growth with a number of property companies pointing to a golden era of London property generating a further 25% growth over the next five years. Others anticipate an inevitable correction, speculating on a pause in international demand, a new mansion tax or a sterling crisis forcing sales and a fall in prices.
Inessa Falina, Head of Property Services at Ashton Rose, offers three key considerations for prospective buyers of London property in 2014, to avoid any short-term bubble and generate long-term value growth:
- CENTRAL - Westminster, Kensington, Knightsbridge, Chelsea, Notting Hill, Holland Park and riverside locations in central London. Whilst prices have risen and should continue to rise in these areas, they are historically the first to bounce back from any market correction.
- VALUE OPPORTUNITIES - Whilst central London properties are often perceived as being the luxury of the very wealthy, opportunities to buy affordable properties in zone 1 still exist. Elephant and Castle still offers an off-plan flat from £750 per square foot.
- NEW BUILD FLEXIBILITY - Whilst modern-design, new-build properties often sell themselves, these also offer potential owners a variety of financing packages in the early stages of development, giving the buyer cash flow flexibility whilst guaranteeing them their London property equity. Against traditional properties they often offer far greater flexibility in terms of lay-out structure and design.
Commenting on the considerations, Inessa Falina said:
"Whilst many speculate one way or another on which way the market is going, our message is simple; we see London property as a long-term, fantastic growth opportunity which is why it is now an accepted global asset class. Nevertheless we advise clients to consider these points to ensure that their property provides the perfect investment or home for their long-term needs."
Notes to Editors
Ashton Rose is a boutique property consultancy specialising in the sale, acquisition and rental of premium, high-calibre properties in prime London locations and Home Counties. Part of Oracle Capital Group, a global independent multi-family office, and a member of the British Property Federation, Ashton Rose provides solutions to all types of clients - investors in residential and commercial properties and buyers looking for the perfect family home. The business is run by Inessa Falina, who before joining Ashton Rose ran a successful boutique property company of her own and set up and ran the Hamptons International Russian desk for a number of years.
SOURCE Ashton Rose