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​Property Report November 2001

November 2001

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Mayfair's Finest Properties

Charles Street

Carlos Place

Move in before Christmas


Reception Room, Kitchen,
Two Bedrooms,
Two En Suite Bathrooms.


Sole Agent

Dine at The Connaught


Two Reception Rooms, Three Bedrooms,
Two Bathrooms (One En Suite),
Kitchen, Guest Cloakroom, Lift, Porter.


Sole Agent

Berkeley Street

Grosvenor Square

Commute to Canary Wharf


Reception Room, Two Bedrooms,
Bathroom, Shower Room,


Sole Agent

Apartment with use of Ballroom


Double Reception Room, Master Bedroom with
En Suite Bathroom, Bedroom Two, Bedroom
Three / Study, Shower Room, Kitchen,
Separate Maid’s Room and Garage.


Joint Sole Agent

Mayfair Market Comment

Realistic Pricing

A recent headline in The Evening Standard announced, “Top House Prices Down 10%”. This report was based upon an estate agent commenting that the price of a number of central London houses in prime areas had been cut by 10% since September. Properties that are deemed to be realistically priced will always attract buyers and price reductions are normally due to the increased desire of vendors to sell and possibly coming down in price from an unrealistic level at the outset.

With the stock market still volatile, current base still going down (4.5% the lowest for nearly 30 years with a further reduction to 4.25% expected before the end of the year) and a competitive market for mortgage lending, the cost of housing is still affordable.

Mature Market in Mayfair?

The Mayfair residential market has never been a ‘hot spot’ and is therefore less volatile than some up and coming areas, where values are underpinned by speculation in a rising market. Mayfair’s market is mature, long term and driven by the right property being available; it is not unknown for buyers to wait a couple of years for the right property to become available.

Turnover is therefore linked with availability and with no massive increase in the number of properties for sale, Wetherell believe that the Mayfair market will continue to be resilient and stable. There is a good choice of properties for sale, so buy now whilst there is still a choice.

Continuing Supply

Wetherell’s latest properties for sale include


Berkeley Street

Mount Street

Chesterfield Gardens

Down Street

Grosvenor Square (off)


Studio flat with 999 year lease

Two bedroom flat in Mayfair Village

Refurbished flat in freehold block

Mansion flat with two large receptions

Low built house with private garden







Rental Market Comment

Wetherell’s letting department is still renting a high amount of good quality properties. The rents are being slightly reduced if the properties are older or the decoration more worn, but the asking price is still achieved if properties are in immaculate condition or newly refurbished. Currently on the market is a beautiful three/four bedroom, two reception apartment in Mount Street, neutrally decorated throughout, available unfurnished for £1,500 per week.

To register your requirements with Mayfair’s Leading Agent please contact

The Sales Department on 020 7529 5566 / [email protected]
The Letting Department on 020 7529 5588 / [email protected]


Mayfair’s Leading Estate Agent



We sell well

Ombudsman Scheme

No.62 102, Mount Street, Mayfair, London W1K 2TH NOVEMBER 2001