LACK OF PROPERTY FOR SALE SLOWS MAYFAIR MARKET
Buyers Push Mayfair Property Values Upwards
The first quarter of last year was an active time for the residential property market in Mayfair. This is being repeated for 1997 but again the familiar complaint is that there is not enough good stock available to meet demand.
Low Sales Volume
In the boom times of the late ’80’s turnover of property in the UK was around 2.5 million transactions. Last years statistics show 50% of that figure.
Current estimates suggest that one million people wish to move property but will not place their property on the market until they have found their next purchase!
Time to Buy & Sell
The media reports on the market suggest that we are back to boom time levels, however evidence is thin due to lack of volume sales.
Due to the lack of stock agents predict a rise in asking prices to tempt potential vendors onto the market. Wetherell also believe that Mayfair is undervalued compared with other areas of central London. Buyers frustrated in their efforts to buy in other areas are looking at Mayfair.
The Village is Back
Buoyant Rental Market
The lack of property for sale has resulted in a strong rental market while potential buyers wait for the right property to become available. If you are looking to buy or rent then please call us for assistance.
|BY THE CONNAUGHT||
Best one bedroom flat @ 295,000
Overlooking the Mount Street Gardens on a 995 year lease.
|22′ x 17′ PRIVATE GARDEN||
4 Bedroom Maisonette @ 585,000
Newly refurbished. Area: 1,850 sq.ft. 21′ x 18′ Reception. 75 year lease.
3 Houses ideal for letting @ 1.8M
Newly Refurbished. Area: 4,763 sq ft. Each house has a garage. Freehold.
|GRADE II GEORGIAN HOUSE||
Access to Private Gardens @ 2.75M
Newly restored. Area: 6,000 sq. ft. 6 Bed Suites. 5 Receptions. Lift
|SHEPHERD MARKET @250 pw||
Newly refurbished one bedroom flat.
|PARK STREET @ 450 pw||
Two Bedroom flat
|PENTHOUSE @ £725 pw||
Close Grosvenor Square with terrace
|CHARACTER HOUSE @ 1000 pw||
2/3 Beds with terrace and parking
Mayfair’s Leading Estate Agents
Tel: 0171-493 6935 Fax: 0171-629 9303
We sell Well
|No.14||102, Mount Street, Mayfair, London W1Y 5HF||FEBRUARY 1997|