We’ve spent the last few months assessing the various factors at play in what is a challenging property market for buyers, sellers, agents and investors alike. With multiple concerns such as the global recovery from the financial meltdown in 2008, the onerous levels of stamp duty payable since late 2014, and the barely believable chaos since the referendum was announced in 2015 and Brexit confirmed in 2016, the market has been on the ropes and suffering. However in the past two to three years another factor has been at play in disrupting the once so reliable waters of UK property. Online agents have been the talk of the town. Sky-high share prices for brands such as Purple Bricks and Emoov.
The debate is underway as to whether online agents are really performing. With a new market of millennial ‘digital natives’ coming through, online brands are advertising huge successes in terms of customer acquisition, while staying cagey about the number of deals that are actually being done. As the number of millennial owners at the bottom end of the market grows, online brands are feasting on subscription fees, regardless of actual performance. It’s impossible to tell whether or not the market is quiet because online brands are doing all the deals (probably not), or if we are all in the same boat due to the usual political and economic factors (likely). Either way millennial sellers are more susceptible to the next.
In our new phase here at NVP we’ve brought together two lettings teams, with a combined total of over fifty years experience in lettings and management. Together this new team, representing an increase in capacity of 300%, will bridge the space between tenant and landlord, across Knightsbridge and the whole royal borough – with over 130 properties currently under management. But it’s not all key-holding, EPC’s and gas safety certificates. With various CV’s involved including two ex-golf pros, a crown estate executive and several elite family offices, NVP Lettings is perfectly poised to grow their share of a property sector that is flourishing. Lately there have been deals aplenty, with a student flat going for £20k per week (not your.
We began February by moving into our new offices, just along Montpelier Street towards Harrods, in the heart of Knightsbridge. It’s an exciting move and expansion for us, and comfortably in time for our busiest season of the year, spring (although late Autumn gives it a run for its money these days). The new office has a palpable sense of energy and enthusiasm to it, and the deal sheet is alive with activity. Even though the market is officially still flat, things feel decidedly different to this time last year… here’s our thinking, with more detail on why this is happening, and a bit of history and heritage to our developing brand and business: Bridging the gap: We mentioned at.
We still have a little more building work to be done but are delighted to announce that we are now in our new premises at 6-8 Montpelier Street, just along from our former office in Knightsbridge, having acquired the prestigious Hobart Slater agency. Robert Hobart and Roger Slater have been a pleasure to work with, the transition could not have gone more smoothly, and their expertise will always be welcome. So we now have a bigger team, more properties on our books and a smart new office; not a bad way to begin the year. We do hope you will stop by to say hello soon.