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December 2011

WE WON This week a High Court judge allowed for the Judicial Review to proceed against Westminster City Council’s proposed evening car parking charges and restrictions on parking on yellow lines in the evenings. The council have not however given up on their proposals and say they have only postponed the January 9th start date until after the Olympics next year. The fight therefore still goes on but it gives …Read More

November 2011

Mayfair – It’s No.1 – It’s Top of the Pops! Two events happened last month that stuck in my mind; the first was the death at 84 of Sir Jimmy Savile, who hosted the original chart show Top of the Pops on the BBC. The second event was one of our leading property analysts reported that Mayfair was now No.1 – top of the pops – having the highest growth …Read More

October 2011

HIGHWAY ROBBERY IN MAYFAIR My monthly report this month is dedicated to the issue of car parking in Mayfair; or rather the threat of 1,700 car parking spaces being STOLEN out of the West End by Westminster City Council (WCC) after “traffic surveys” showed stress areas in the evening. Understandably there has been local public outrage to WCC actions for Mayfair and in my 40 years in business I have …Read More

September 2011

TO BUY OR NOT TO BUY – MODERNISED? THAT IS THE QUESTION. In 1996 we sold the best mansion house in Mayfair for £9M which was then newly developed back from offices as a magnificent “empire Style” Grade II listed house with mews totalling 15,500 sq.ft. Now 15 years later Wetherell have sold it again, in original condition, for a figure of £25M (£1,613 p.s.f). The main difference (in the …Read More

August 2011

July has been a busy month for Mayfair residential property with 21 properties sold (including 3 houses) for £80M. RECORD PRICE The record price was in Davies Street (see link below) at The 21st for a 5th floor 2 bedroom apartment above “C of London” (Cipriani). Built in 2004 and sold at £2.275M, it was then sold again in August 07 for £3.975M and now three years later for £5.25M …Read More

July 2011

“The definition of a statistician is a man who believes figures don’t lie, but admits than under analysis some of them won’t stand up either” (Evan Esar) FORECASTS One of our leading property agents recently upgraded their 2011 forecast for Prime London movement from -1% to + 8%.  Although this shows an amazing strength in the central London residential property market, it does however show that we really should not …Read More

June 2011

THE DEBT REPORT Recent data shows that home loan approvals were only 45,000 in April 2011 which was down 8% on the year but more importantly it can be compared to the November 2006 peak of 130,000. THE WEALTH REPORT HM Revenue predicts that this year 1% of Britain’s population will earn 12% of all income tax and also that the top 5% of population will pay a quarter of …Read More

May 2011

The Mayfair Summer Market has begun ROYAL WEDDING EFFECT With the wonderful events of the Royal Wedding behind us it is interesting to note that the slow down effect last month was not just local but global with our website traffic down 50%. Thankfully it is now getting back to normal with interest and demand on the increase although the number of new instructions is still weak. RICH LIST The …Read More

April 2011

MAYFAIR MARKET UP BY NEARLY 50% The volume of sales for residential flats and houses for the 1st quarter of 2011 was 47% higher that 2010 but still 40% off the peak of 2007. The bad news is that the aggregate value of those transactions was down by 45% on 2010 and only 25% of the total value of Q1 in 2007. The reason for this is that there have …Read More

March 2011

STRICTLY BY APPOINTMENT ONLY – The rise of “Quietly on Market” One of the leading website portals today indicated that my postcode in Mount Street had 14,670 potential “registered buyers” to see the property when the details were added and the property goes on the market. As the total number of properties sold over the last 4 years totals just over 500 units in Mayfair & St James’s this over …Read More