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July 2015 – Road Closure Leads to Record Mayfair Prices

For the last few years those who like to approach Mayfair from Park Lane, driving past the Dorchester Hotel into South Audley Street or towards Hill Street and Berkeley Square have had their route stymied with the closure of Deanery Street during working hours. The cause is a new luxury development of JUST SEVEN apartments currently being built and replacing an ugly 1960’s office building at 77 South Audley Street. …Read More

Wetherell to Chancellor

The knock on effect of the December Budget change in top tier SDLT (stamp duty land tax to 12% over £1.2M) is beginning to be more visible. Total volume of Mayfair sales for residential property in the 1st half of 2015 was down by a third on 2014 and half of 2013. However sales values remain strong due to lack of supply – potential vendors have withdrawn nearly a quarter …Read More

June 2015

V verses V & SDLT Volume verses Value is still the issue for residential sales in Mayfair. SDLT (the acronym for Stamp Duty Land Tax) could also stand for “Stall the Deal Level of Transactions” since the Chancellor’s hike in top tier tax to 12% in December 2014. With the majority result in the General Election to the Conservatives they might like to reflect on declining revenues that this tax …Read More

Who Lives in Mayfair 2015

Our updated `Who Lives in Mayfair 2015` report gives an insight into the local population of one of the worlds most prestigious neighbourhoods. Over 5,100 permanent residents, from more than 42 nationalities live in Mayfair and 60% of residents were born overseas. Within that group, 64% arrived in the UK between the ages of 20 and 44. There is more space for people than you might think, with a population density of just 39.3 …Read More

General Election 2015 – The Result

I now hope that we can take the political rhetoric off the table and return to a more stable residential property market This Conservative WIN is excellent news for the London property market. With the mansion tax threat now off the agenda Government should now focus on creating a more equitable Council Tax upper rate bands across the whole of the country. London still has many concerns as reflected by …Read More

UK General Election 2015

Thoughts from a Mayfair perspective. Here is the Mayfair Guru`s  update report before the election tomorrow. Sales values are constant but the volume of sales have diminished substantially (Q1 Sales: 2013 @ x40 / 2014 @ x21 / 2015 @ x13 ). SDLT @ top tier at 12% of purchase price has slowed the aspirational purchase or investment in the market – only those who have to buy or sell …Read More

Das Erste`s Weltspiegel – Super Prime London

Peter Wetherell discusses the London Super Prime Market with Das Erste`s Weltspiegel programme and shows them round our new Penthouse in Wellington Court. http://www.daserste.de/information/politik-weltgeschehen/weltspiegel/videos/england-der-wahnsinn-am-londoner-wohnungsmarkt-100.html To see more of the £35,000,000 Penthouse please follow this link.  

Mayfair Community – March 2015

I attended two community gatherings last week – a business leaders’ presentation at The Gielgud Theatre and a residential community meeting at The Mayfair Library with our local MP Mark Field in attendance. No.1 : London’s 18.7 million visitors JLL an international real estate group presented to 200 business leaders on the health and outlook of the West End. London is now the No.1 tourist destination in the world with …Read More

February 2015

I have recently been researching an article for the publishers of The Mayfair Times who celebrate 30 years in 2015.  I have a certain advantage in research because I created the publication in 1985 as the voice of Mayfair for the residents businesses of the area. I have just re-read the inaugural edition and what amazed me – (apart from the ludicrously low prices the properties then achieved) – was …Read More

January 2015

SIR WINSTON CHURCHILL This January commemorates the death 50 years ago of Mayfair’s greatest resident – Sir Winston Churchill – 350 million viewers worldwide watched his funeral on TV. (900 million watched the opening of the London Olympics in 2012). MAYFAIR MARKET 2014 The header on this email promotes Wetherell’s continued prominence in residential sales in Mayfair with a 42% market share by value for all sales in 2014 and …Read More

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