{"id":3426,"date":"2018-12-05T16:53:59","date_gmt":"2018-12-05T16:53:59","guid":{"rendered":"https:\/\/bb.pixelanddot.dev\/market-update\/december-2018\/"},"modified":"2026-01-21T12:06:12","modified_gmt":"2026-01-21T12:06:12","slug":"december-2018","status":"publish","type":"market-update","link":"https:\/\/www.black-brick.com\/insights\/market-update\/december-2018\/","title":{"rendered":"December 2018"},"content":{"rendered":"

<\/a>2018 in review<\/p>\n

\"\"<\/p>\n

It\u2019s not quite over yet but, as minds turn to Christmas and the New Year, we thought it would be timely to look back on another year here at Black Brick working for our clients, as well as highlighting some of the deals we\u2019re most proud of.<\/p>\n

In the 11 months to the end of November, we acquired properties for our clients worth a total of \u00a380 million \u2013 ranging in value from \u00a3507,500 to \u00a321,500,000. We bought properties in 13 different post-codes across London, from Lillie Square, Fulham in the west to the Hoola Building, Stratford in the east.<\/p>\n

Overall, we saved a total of \u00a36.6 million for our clients, or an average of 7% below the asking price.<\/p>\n

Of these acquisitions, 25% were off-market, roughly in line with what we saw in 2017, reflecting two things: discretion in the case of high-profile vendors; and the continuing preference of many sellers to test the market without revealing an asking price.<\/p>\n

We also sold \u00a315 million worth of property for our clients in 2018, in five transactions. In addition, we successfully closed four rental deals over the 11 months.<\/p>\n

This year we also saw substantial growth in our vacant care service<\/a>. We are now managing 50 properties for our clients, carrying out weekly inspections and ensuring that they can return to their properties exactly as they like to find them.<\/p>\n

We are also pleased to have chalked up a number of industry awards and commendations over the year, with the latest being both Managing Partner Camilla Dell<\/a> and Partner Caspar Harvard Walls<\/a> recognised as \u201coutstanding in field\u201d London Buying agents in the prestigious Spears 500 list. Other recognition includes being voted Best Property Adviser, for the third year in a row, by the readers of Wealth Adviser<\/a><\/em>, and one of the 2018 Top Residential Property Buyers<\/a> by eprivateclient, and as a recommended advisor in the HNW Guide from legal publisher Chambers.<\/p>\n

\u201cThe market has continued to present challenges in 2018, with continued uncertainty over Brexit weighing heavily on clients minds,\u201d says Dell. \u201cBut there is still a market, and there is still strong demand for attractively priced prime London property.\u201d<\/p>\n

She notes that Noting Hill has been an outlier, with prices performing better than any other part of Prime Central London. \u201cWe were competitively bidding on several properties in the \u00a310 million to \u00a320 million range earlier this year, before securing our client\u2019s ideal home in September for \u00a321.5 million,\u201d says Dell.<\/p>\n

\u201cThe market has presented buyers with some outstanding buying opportunities,\u201d adds Harvard-Walls. \u201cOur recent transaction on Red Lion House, a freehold house in Mayfair which we acquired from a receiver for under \u00a31750 per square foot, was arguably one of the best value transactions to have happened all year.\u201d<\/p>\n

Meanwhile, dollar- or euro-based overseas clients have also benefited from sterling\u2019s weakness making purchasing London property an even more attractive proposition this year.<\/p>\n

\u201cWe maintain our view that buyers and investors should look at London property as a longer-term hold, given the uncertain times that lay ahead, but many who are buying now will look back on this time as one of the best buying opportunities,\u201d says Dell. \u201cIt\u2019s no coincidence that both Black Brick partners bought their homes in December: it\u2019s a great month to strike a deal, with less competition out there and sellers minds focused on getting a sale through before the New Year\u201d.<\/p>\n

<\/a>The Best of 2018:<\/p>\n

\"\"<\/p>\n

Biggest saving<\/strong><\/h4>\n

It may be a buyer\u2019s market, but limited supply means there\u2019s stiff competition for the best properties. Nonetheless, we managed to secure an almost 19% discount on this family home in Kensington.<\/p>\n

https:\/\/www.black-brick.com\/bedford-gardens<\/a><\/u><\/p>\n

 <\/p>\n

<\/a>\"\"<\/p>\n

Best trophy house<\/strong><\/h4>\n

We\u2019re connected. Our clients had been looking for almost a year for a trophy property on just a handful of streets in Notting Hill. When exactly the right property came up \u2013 off-market, and priced at \u00a321.5 million \u2013 we swooped. Our clients have requested discretion, so we can\u2019t say more\u2026<\/p>\n

 <\/p>\n

<\/a>\"Castle<\/p>\n

Best new build<\/strong><\/h4>\n

We think outside the box. Our clients were looking for a large, high quality, new-build four-bed \u2013 an extremely tall order, within their budget. We saw an opportunity to join two apartments in a boutique development, persuaded the developer to do the work and to sell at a competitive price.<\/p>\n

https:\/\/www.black-brick.com\/castlelane<\/a><\/u><\/p>\n

 <\/p>\n

<\/a>\"Acquisition<\/p>\n

Best starter home<\/strong><\/h4>\n

We help clients at every stage of their lives. Our client here was in his twenties, and starting out in London. With our advice and support, we helped him take his first step on the property ladder.<\/p>\n

 <\/p>\n

<\/a>\"\"<\/p>\n

Best value deal<\/strong><\/h4>\n

Properties coming out of receivership can offer compelling opportunities. We secured this amazing converted pub for \u00a315 million \u2013 down from its initial price of \u00a325 million before it was repossessed by the bank.<\/p>\n

https:\/\/www.black-brick.com\/november-2018#four<\/a><\/p>\n

 <\/p>\n

<\/a>\"\"<\/p>\n

Best holiday home<\/strong><\/h4>\n

We inspected over 50 flats on behalf of our clients who were looking to purchase a second home\/holiday home in North London, before finding this gem of a new build property, located in the heart of Hampstead. We also negotiated a \u00a3137,500 saving from the asking price.<\/p>\n

https:\/\/www.black-brick.com\/netherhall-gardens<\/a><\/p>\n

 <\/p>\n

<\/a>\"\"<\/p>\n

Best relocation and rental search<\/strong><\/h4>\n

We take pride in helping our clients make themselves at home in London. We managed a relocation from Canada, found our clients the perfect rental property, and also ensured all their furniture could come too.<\/p>\n

https:\/\/www.black-brick.com\/neo-bankside<\/a><\/u><\/p>\n

 <\/p>\n

<\/a>\"\"<\/p>\n

Best manged sale<\/strong><\/h4>\n

We also help our clients sell properties. Ebury Street presented a particular challenge, with numerous other similar properties for sale in the same building. Astute direct marketing found a buyer, and careful negotiations saw the property sell close to the asking price.<\/p>\n

https:\/\/www.black-brick.com\/ebury-street<\/a><\/p>\n

 <\/p>\n

…and finally<\/p>\n

<\/a>\"\"We would like to wish all our readers, clients and partners a merry Christmas, Happy New Year, and a healthy and successful 2019. We look forward to working with you to help buy, sell or manage your properties in the year ahead.<\/p>\n","protected":false},"excerpt":{"rendered":"

2018 in review It\u2019s not quite over yet but, as minds turn to Christmas and the New Year, we thought it would be timely to look back on another year here at Black Brick working for our clients, as well as highlighting some of the deals we\u2019re most proud of. In the 11 months to […]<\/p>\n","protected":false},"featured_media":3094,"template":"","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","inline_featured_image":false,"ghostkit_customizer_options":"","ghostkit_custom_css":"","ghostkit_custom_js_head":"","ghostkit_custom_js_foot":"","ghostkit_typography":""},"tags":[],"class_list":["post-3426","market-update","type-market-update","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nDecember 2018 | Property Market Update | Buying Agents | Black Brick<\/title>\n<meta name=\"description\" content=\"Check out our market report for December 2018 featuring 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