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BARBICAN LIFE


fuelled by the Olympics, great news if you are selling but not so good if you’re buying. This could be due to change with the end of the games. We have, however,


started to noticed a large


increase in enquires/valuations from people looking to sell. If you are considering selling now might be the best time to take advantage of market conditions. We do not see prices falling in the near future. We are currently achieving all time high prices for all styles of flats within the estate. Nick Scott of Scott City:


Lack of


Tower flat in Cromwell Tower available from Scott City at £1,050,000


For me, these changes are on the


whole broadly positive as by and large it does make sense to repay debt as quickly as possible, extending yourself beyond your means is not a good idea and home ownership is not necessarily the best option for everybody out there, where the flexibility of renting may be more appropriate. The housing market is a far more realistic place these days than it was 5 years ago and if these changes are maintained, then it will hopefully lead to a far more stable housing market in the UK, which would surely be a positive for all concerned. This should in turn help to return us to a situation where housing is once again seen as a very good investment for all parties, be they home owners landlords.


or buy- to-let Estate Agents’ Comments


SALES Alex Ch


ilds at Frank Harris: One thing


all estate agents currently have in common is a lack of stock. We believe this has been partly


supply still seems to be the order of the day. Most of our buyers are cash rich with a noticeable increase in European buyers looking to London as a safe investment. Tower Flats in the Barbican have now pushed to the Million pound mark and over for high ones with great views,


refurbished kitchens and


bathrooms. The City property market has been quiet in the last few months with activity taking second place to the Jubilee and the Olympics. If we see an increase in stock levels we should have a busy autumn. Strong demand from UK and


international buyers alike has sustained prices at an all-time high for the City but in particular the Barbican. We still have good demand for studio and one bedroom


smaller


apartments with many of our investors still looking to add property to their rental portfolio's again helping to sustain prices.


Leon Stone of Hamptons International:


It has been an interesting summer for sales in the Square Mile and the Barbican, with the usual summer lull not taking place this year. Far from the


The Modern House is a specialist estate agency dedicated to the sale of 20th and 21st century homes of architectural distinction. Due to strong demand, we are currently looking for Barbican apartments and other properties of architectural interest to offer for sale.


If you are thinking of selling, or you would like to learn more about the homes that we sell across the UK and France, please visit our website www.themodernhouse.net or call Matt Gibberd on 08456 344068.


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Olympics causing activity to dry up, it seems the reverse has happened with an influx in overseas buyers, and Hamptons have had their busiest July & August on record, with several sales and lets agreed in the Barbican over these months. While realistic pricing is key, asking prices are usually achieved while several sales have gone well in excess recently. Glen Cook of Hamilton Brook


s: We


have plenty of cash buyers, the majority come from the UK, most are wealthy downsizers looking for a City base, some are buyers who already have a Barbican apartment and want to trade up. But increasingly overseas buyers are showing up in force, We have had, for example, a number of enquiries


from France,


Spain, Italy, India and even a few from China, in fact we sold 4 apartment at the tail end of 2011 to Chinese buyers investing for their children who are studying in the City. If I were asked to predict future price


trends, my view is that I believe we have now reached a price plateau. I think after the Olympics we will see more sellers, which will have a stabilizing effect on the good price increases we have seen in the last 6 months. If I had a property I were contemplating selling, I would be certainly going on the market in very early September, once the schools return and the Olympic euphoria ebbs away.


LETTINGS Glen Cook


: A very slow June, July,


August, which was directly linked to the Olympics', but as of the last week of August, wow, the enquiries came flooding in - very busy indeed, which has been a welcome change. Jack Davison at Scott City: Late


August has seen a huge rise in demand, which has been a relief. We have seen a tremendous


rise in inquiries, with


studios and one beds getting the bulk of the calls. June, July and early August have been on the quiet side, with Summer


holidays and Olympic


excitement keeping the market on the quiet.


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