An uplift in sold prices following December’s election bounce has helped close the gap between seller expectation and reality..
U.K. house buyers are paying 25 percent less than the average asking price, according to Benham Reeves Director Marc von Grundherr.
Analysis by Benham & Reeves shows that London accounts for 11.3% of UK property transactions but 40% of Stamp Duty. In his interview with London Live, Director Marc von Grundherr explains how Londoners are being disproportionately punished by Stamp Duty.
With many Malaysians investing in London property, estate agency Director Marc von Grundherr talks to radio station BFM 89.9 about the rise in fraudulent tenants and what you need to know.
Marc met with Phil Pelucha to discuss his journey from an Investment Banker to one of London’s leading property commentators. Contains plenty of advice and tips for property professionals and investors.
Marc is incredibly knowledgeable and has a unique and interesting insight into the property market. The guys chat about Marc’s exposure as an investor himself, working with investors on a daily basis and being involved in the high-end property market in London.
BTR operators require reliable income to maintain investment levels in the high quality, communal facilities and amenities provided to tenants. It is essential to minimise the risk of fraud and non-payment of rent to prevent a loss of income. Being able to prevent fraud early is also crucial, given that the total cost of evicting a rogue tenant can be over £31,000 according to research by Benham and Reeves.
Research from U.K. estate agent Benham and Reeves has found that London homesellers are currently receiving 91% of their initial asking price when listing their home—a jump of 6% from the first quarter of 2021. Sellers in the borough of Barking and Dagenham are performing the best, achieving 112% of their initial ask, while those in Westminster are having the hardest time, reaching just 84% of their preferred price.
The latest property market analysis by London lettings and estate agent, Benham and Reeves, has revealed which areas of the London property market are seeing home sellers achieve the highest percentage of asking price, as well as where has seen the biggest increase in asking price achieved.
Meanwhile, figures from Benham and Reeves have found that buyer interest in London's £2 million-and-above properties have risen throughout 2021.
Marc von Grundherr, director of Benham and Reeves, said: “The London market has been moving at the same rate of knots as the rest of the UK where annual appreciation is concerned. However, a 5.2% jump is far more significant in cash terms when compared to many other areas of the UK market and so sellers certainly won’t feel too hard done by.
Director of Benham and Reeves, Marc von Grundherr, commented: “Even the apocalyptic wet weather seen over the weekend can’t dampen the UK housing market, with yet more strong upward movement despite the impending expiry of the stamp duty holiday.”
"The choice to relocate to the other side of the world isn't going to be made or broken on a saving of a few thousand pounds and we've seen a consistent stream of interest to continue to come from Hong Kong, despite the expiry of the initial stamp duty holiday," said Marc von Grundherr, director at Benham and Reeves.
Home sellers in London are now achieving 91 per cent of their initial asking price, an increase of six per cent on the first three months of this year, data from sales agent Benham and Reeves has found.
Director of Benham and Reeves, Marc von Grundherr, adds: “The huge Olympic regeneration of London and Stratford, in particular, brought about a monumental boost to property prices and today, the London Borough of Newham remains one of the best performing pockets of the London market as a result.”
“Yet another idea from tech people which will die. What applicant would pay to view a property when you can call the agent direct and they won’t charge?” asks Marc von Grundherr, director of Benham and Reeves, a London agency. "Yes it’s a good idea as it means people will definitely turn up if they’ve paid but I believe the uptake will be very low. Also isn’t it illegal to charge tenants now under the tenant fee ban - surely charging for a viewing breaks that rule?”