Faron Sutaria News

Shopaholics might be seriously tempted by this smart mansion block flat, just a few minutes from King’s Road. For £799,950 you get a slick kitchen, two double bedrooms and a spacious reception room showcasing wood floors and a big bay window.  For sale through Faron Sutaria.

11th April 2012

Last Wednesday’s Budget and it’s impact on the London property market has been a hot topic, both before when rumours circulated about the potential introduction of a ‘Mansion Tax’, and since with the introduction of a new 7% Stamp Duty Land Tax on properties over £2 million.  The speed at which the new level was introduced meant a rapid exchange of unconditional contracts of a £5.75 million property in our South Kensington office, the process being accelerated by a week.

£2 million is now the average property sales price in the Royal Borough of Kensington & Chelsea, so applicants wishing to buy here will now need to factor in the additional cost.  I imagine there will be some initial frustrations but, similar to when the 5% SDLT level at £1 million was introduced last year, it will be accepted as an additional purchasing cost comparable with those imposed in other countries.

I expect demand from people wanting to own property in prime central London to stay strong, especially as  London continues to show consistent price growth and remains an international financial capital.

28th March 2012

In the early months of 2012, a window of opportunity has presented itself for motivated property sellers to maximise the sale price of their property. 

As a result of a limited supply of property coming to the market and overwhelming numbers of new buyers registering their intention to buy, property prices are on the rise, fuelled by many properties receiving multiple offers and in turn, some selling well above their asking prices.

Our branch in Camden recognizes that sellers want a clear, accurate view of the current market and an agent who can deliver on their promises.  That’s why since opening in 2011, we have been instructed to sell a considerable amount of property on the back of recommendations from those who have already sold through us. 
In addition, we have achieved an average of 99% of our asking prices on properties sold through our Camden branch this year. 

29th February 2012

Market Guru
Jonny Miller, Islington branch manager of Faron Sutaria says that Upper Street is where his heart is

Jonny Miller began his career in property 26 years ago as an office junior in Hampstead Village and worked his way up to office manager at 21. After some years spent working outside London, Jonny returned to the city – and to his favourite area, Islington. As an agent and resident here, he knows Upper Street well. As he says, “Above all, Islington is known for its vibrancy. The area established its popularity many years ago, back in the days when Tony Blair lived here and the re-gentrification was taking hold. That really put Islington on the map and what you see today is a consolidation of those changes.

'Upper Street has an edge over other high streets thanks to its wealth of independent businesses. As Miller points out, “In an era when much of London has become homogenised, the popularity of this area is maintained and developed because it has not lost its identity.” It’s not just the shopping potential that people love about Upper Street, the housing is special too. “The architecture is fantastic and adds a real buzz to the area,” says Miller, and it is also something that helps to attract a high calibre of resident. “People that buy here tend to have a creative attitude to the way they create and maintain their homes. And the energy along Upper Street is reflected internally too, through clever renovation and interesting design.'

The bad news is that local property is incredibly sought after. As Miller knows only too well. He points out, “Once people settle in Islington, they never want to leave.”

February 2012

As we sit here amidst another bout of chilly weather, one would be forgiven for thinking that near zero temperatures are not conducive to selling a house.

The truth is that in the last few weeks we have had numerous sealed bids and properties selling well in excess of the asking price - in some cases by as much as 15%.

Through our promotional network we have registered many motivated buyers from all over the world wishing to invest in London property.

Some buyers are choosing to fly into London for periods of 24 hours or less, purely to secure a purchase; determined to make sure they don’t miss out. I would like to say however, not every person is a Russian oligarch looking to spend a fortune on a first floor flat in Kensington.

With our long opening hours, highly experienced sales teams and strong network of offices, we are ensuring that whatever the weather we are actively selling and exposing our clients properties’ to the widest possible audience.

15th February 2012

To celebrate the Chinese New Year, I was privileged to be one of 300 guests at a Year of the Dragon banquet, sharing a table with a number of top lawyers, financiers and wealth managers.  The evening’s conversation was dominated by the impact of the Chinese on London’s property and luxury goods markets.

From the property perspective, I have certainly noticed increased interest from the Chinese looking to invest in property here.  Some are looking for a base to use when their children come here for boarding school and university, others for a long term buy-to-let investment. 
We are also receiving more enquiries from Italy, Greece and France, as these nationalities also continue to see London property as a stable long term investment.

I believe the high level of overseas enquiries we are experiencing across our network of London offices will continue. 

1st February 2012

After a decade of experience in the Central and West London property market, 2011 was arguably the most exciting and interesting I’ve experienced so far.

With over 31 years of trading in Earls Court, part of our central London network, we experienced an influx of overseas investment with approximately 42% of purchasers having 100% cash funds available, resulting in an all-time record year for my office.

By monitoring economic and market conditions, we were able to adapt our marketing strategy for our clients, which assisted in helping us achieve record prices throughout the area and over 98.2% of combined asking prices for the year.

Early signs in 2012 are incredibly positive with a high level of buyer interest and strong offers being presented already.  We are confident we will continue to exceed our clients’ expectations and further improve our offering to make 2012 another record year both for local residents and Faron Sutaria Earls Court.

18th January 2012

IN THE GLASSHOUSE

Leconfield Road, Highbury, London, N5

Price: £525,000

Agent: Faron Sutaria

Tel: 020 7354 9737

They say: Built in 2007, this two-bedroom house offers fabulous open-plan living and a decked garden in this leafy area.

We say: A 10-minute walk from lovely Clissold Park with the deer but all that glass might feel a bit bleak and it's only 10ft wide.

13th January 2012

It is a commonly held belief that the ‘best time to sell’ is either in the Spring or at the beginning of Autumn. This has historically been pretty much the case for the vast majority of the 22 years that I have been with Faron Sutaria. However, this year has been somewhat different.

Due to the huge numbers of overseas buyers that have been buying property in all of our locations, the market this year has been far from ‘seasonal’.

News reports are littered with how in some prime central London locations, prices achieved are at their highest they have been for a number of years and in many instances previously high records have been broken. Regardless of the day, week or month that a property comes onto the market, as long it is presented and offered in the correct manner with a pro-active and effective estate agent who gives their client sound professional advice, an excellent sale should be achieved.

If you are thinking of selling, this could be the perfect time for you and through our extensive marketing, we are able to attract some of the best buyers. On the other hand, if you are a buyer who has yet to find your ideal property, we can offer you a selection of some of the finest properties available.

16th November 2011

Chepstow Crescent, W11 £1,650 per week

This newly refurbished three bedroom flat with contemporaray furniture is decorated in neutral tones.  The property has a spacious front garden, patio and roof terrace making it idea for people who live to entertain.  There is also a garage and extra parking space. 

Chepstow Crescent is in the heart of Notting Hill, moments from Westbourne Grove and a short walk from Notting Hill Gate tube.

November 2011

Within days of opening our new Islington office on prime Upper Streetm we were inundated with enquiries.  With Christmas fast approaching it seems local people are keen to take advantage of our opening offer of 0% and save themselves many thousands of pounds in agents fees.

One couple were about to put their property on the market with another agent, but with us stand to save almost £16,000.  We have had enquiries from people selling right across the area, from Stoke Newington and Highbury to Barnsbury, De Beauvoir, Angel and Spitalfields.

The market is active with potential buyers steadily flowing into the office from the very first day we opened, due to our prime location and excellent office presentation.

People are delighted to see how experienced and knowledeable the team are about the area and fully support our opening office which communicates our values clearly - Faron Sutaria might be a new name in the area but has a highly experienced and professional team.

2nd November 2011

On The Market

We're looking for...a home on the river

Chiswick, London
Four bedroom houseboat, £450,000

LOOKS
Victory is a beautiful boat, with a large living area and mooring on Chiswick Pier.

CHARM

The Boat, near Chiswick House and the old Chiswick village, has stunning views along the Thames.

VITAL STATISTICS

There are three open-air deck patios on board, including a covered mid-deck with a jacuzzi and sauna.  The propery includes an artist's studio and has off-street parking.

9th October 2011

Having worked in the Chelsea market for over 30 years, I am delighted to now be part of Faron Sutaria and thrilled to be opening their new Chelsea office.  Located on Lower Sloane Street, we are in a superb position covering the prime areas of Chelsea, Knightsbridge, Belgravia,  Battersea Park and Riverside.

The prime areas of Chelsea, Knightsbridge and Belgravia seem unaffected by world economic and political events.  Overseas buyers see London as a safe haven to invest their money in times of uncertainty and we have been witnessing this through the wide variety of nationalities we are selling property to.  As these overseas buyers tend to invest for the longer term, this is putting pressure on supply which is keeping prices high whilst strong demand continues. 

The rental market is also very buoyant and the returns are increasing, bringing back rental investors.  The only major problem is lack of good properties coming onto the market.

Should you be considering selling a property in SW3 or SW1, now is a fantastic time as many buyers are keen to complete a purchase before the end of the year and are prepared to pay a premium for this to happen.

7th September 2011

AGENT SPEAKS

Jason Scott, branch manager at Faron Sutaria Chiswick reviews the current market in W4

At the Faron Sutaria Chiswick Sales department we find ourselves in a completely different sales market to six months ago. Whilst I’m reluctant to say we are fully on the road to recovery, we are in a healthier place than we were before. On a recent property valuation I was asked “When is the best time to sell?” to which I responded: “When demand is high and supply is limited”.  This is now - currently there are quite simply too many buyers actively looking and not enough available property to meet the surging demand. 

The shortage of stock has resulted in competitive bidding and our office is achieving some sales prices not seen since the heady days of 2007.  I agree with reports which state that the majority of sales prices being achieved in Chiswick are 5% up year on year.  This is backed up by the fact we recently re launched a number of properties onto the market, brought to the market then withdrawn in 2010, which have been sold for higher prices. 

In light of this, it is hard to understand the reticence from potential vendors to market their properties now, especially as we have numerous frustrated would be buyers who have lost out in bidding wars.  The family house market stands out as having made a surprisingly rapid recovery. During June 2011 Faron Sutaria agreed the sale of five family homes within two weeks of their launch, in some cases after only a handful of viewings. 

For those disappointed purchasers who have missed out over the past 18 months I would advise them to ensure they have prepared themselves to be in the best possible purchasing position.  Ideally this would entail being chain free with finances in place and conveyancing solicitors instructed.  This will make your offer more attractive than another’s and gives you a better chance of securing your ideal property. 

The combination of an increased number of active purchasers and fewer available properties means that if you are thinking of selling, now is an excellent time to request a current market appraisal. 

August 2011

Whilst the majority of our UK buyers have been enjoying well earned summer holidays, it seems the rest of the world headed to London to acquire property.  This summer we simply have not seen a downturn in terms of transactions being agreed and overall activity has been greater then I have experienced during my many years working in the central London property market.  International buyers, many more of which are coming from Asia, are presently taking advantage of the weakness in Sterling, resulting in strong demand for property in our areas, noticeable in Earls Court and Chelsea especially.

The best performing sales, in terms of viewing requests and offers, are those that are priced based on comparable evidence and not wishful thinking. This approach entices well placed buyers to act quickly before they miss out and more often then not results in competitive bidding and higher prices achieved for our clients.

If sellers have been waiting until the summer holiday months are over before placing their property on the market, I would say don’t hesitate, sell now and capitalize on the increased international investment in London and the severe shortage of stock.

24th August 2011