‘Let’ The Good Times Roll

For the first time since we opened our doors for business in 2014 we have found that our rental income, for the last 3 months, has overtaken our sales income. This has come as no surprise to us at NVP. We were expecting the sea change and believe the trend is here to stay for the next couple of years while our government implements Article 50 and negotiates new trade agreements with Europe and the rest of the world.

 

This seems to correlate with the other leading estate agencies, most of which are anticipating more properties being available to rent than for sale in 2017.  Recent data relating to the PCL super-prime lettings market regarding transactions above £5,000 per week show an increase of 16% compared to last year, as top-end sales slow to a crawl.

 

For many wealthy individuals looking to buy a seven or eight figure home in the UK the sums don’t add up.  As Knight Frank’s head of super-prime lettings Tom Smith points out, the stamp duty on the purchase of a £15m property is £1.7m, which is the equivalent to three years rent.  Yields can reach between 3.5% and 4% for best-in-class super-prime properties due to their relative scarcity, which compares to less than 3% across prime central as a whole.

 

This is not to say the news relating to prime sales is all bad. Deals in excess of £30m rose by 28% this year compared to last, so each to their own!

Online brands: a word from our peers

We’ve spent the last few months assessing the various factors at play in what is a challenging property market for ...

How millenials are changing the housing market

The debate is underway as to whether online agents are really performing. With a new market of millennial ‘digital natives’ ...

NVP Lettings: Knightsbridge property management, sorted.

In our new phase here at NVP we’ve brought together two lettings teams, with a combined total of over fifty ...

Dear Friend

We began February by moving into our new offices, just along Montpelier Street towards Harrods, in the heart of Knightsbridge. ...

New Address, New Era

We still have a little more building work to be done but are delighted to announce that we are now ...

Gold, frankincense and myrrh, from Nicolas Van Patrick

In the expanding NVP team we have at least three wise men! With the season in mind, and looking ahead ...

A Design Lover’s Guide to Decking the Halls

NVP’s favourite K&C destinations to get you and your home feeling festive, whatever your style. Rustic A trip to Daylesford ...

Nicolas Van Patrick acquires Knightsbridge perennial Hobart Slater

Montpelier Street based Nicolas Van Patrick (NVP) have purchased Hobart Slater, one of the original two Estate Agents who specialised in the ...