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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

CHARLES STREET, MAYFAIR W1

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



£525,000

Sole Agent
 






Dine at The Connaught

CARLOS PLACE, MAYFAIR W1

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



£1,000,000

Sole Agent
 






Berkeley Street



Grosvenor Square



Commute to Canary Wharf

BERKELEY STREET, MAYFAIR W1

Reception Room, Two Bedrooms,
Bathroom, Shower Room,
Kitchen,
Porter.




£495,000

Sole Agent





Apartment with use of Ballroom

GROSVENOR SQUARE, MAYFAIR W1

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




£1,550,000

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







 

£200,000

£550,000

£635,000

£695,000

£2,300,000







 
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]


NAEA
 
 





Mayfair’s Leading Estate Agent

Wetherell

Telephone

We sell well


Ombudsman Scheme
 
 





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



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