Property Report June 1996
60% OF FLAT SALES ARE TWO & THREE BEDROOM FLATS
1996 Market Update
The first half of 1996 has been an active time for the residential property market in Mayfair. Still the familiar complaint is that there is not enough good stock available to meet demand.
However Wetherell’s latest survey of sales shows that the present Mayfair profile is a sophisticated purchaser familiar with the area and waiting for the right property to come available.
Our survey of sales for the first half of this year reveal that 60% of flats sold were two and three bedroom properties. One bedroom flats accounted for 31% of the market.
With the reversion of so many former office buildings back to their original residential use, the Mayfair area is now back in fashion.
There are only 118 properties currently available with a value of around £125 million.
1 BEDROOM FLAT
Situated in “Gentleman’s Chambers” of Grosvenor Square.
Price Guide: £125,000
2 BEDROOM FLAT
A spacious third floor “walk up” with reception room.
Area: 968 sq.ft.
Price Guide: £210,000
|HALF A HOUSE||
Upper maisonette in period house. 3 bedrooms, 2 bathrooms,
Price Guide: £265,000
|BEST VALUE APARTMENT||
3 Bedroom flat in modern block with 2 car parking spaces.
Price Guide: £450,000
Elegant flat overlooking the Square. Reception 21’9 x 17′. 2 bedroom suites plus staff studio. 1,437 sq.ft.
Price Guide: £675,000