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BARBICAN LIFE


overheating with rises putting too many tenants under undue pressure with the implication that rents were likely to start falling back a little towards the end of the year. Perhaps we are beginning to see this already.


Mountjoy House 3-bed two bath apartment with roof terrace on sale from Hamilton Brooks at £1.5 million


here are unlikely to suffer much – indeed may continue to rise at least in the short term.


What of rentals though. There are slightly more mixed messages here. The agents are reporting more properties


AGENTS’ COMMENTS Sales Tina Evans of Frank Harris: 2012 has been a strange year in the world of property with the Olympics and the Jubilee taking up a large chunk of our usually busy period, this has culminated in a lack of stock, and prices, particularly in the Barbican, reaching record levels. I think now is the time to just say “Thank you” to all of those residents who have bought and sold through us and to those who pop in regularly “for a chat and a gossip”.


As always please do phone me if you are considering selling or perhaps just want to discuss refurbishing your property and what this will add to the price. We wish you all a Very Happy and healthy 2013 from all the team at Frank Harris and Company


Andrewes House one- bed to let by Frank Harris at £450 a week


available for rental, largely due to reduced demand, although, to an extent, this contradicts some surveys which suggest that London rental prices are continuing to rise. However, back in September the Guardian was already reportingthat London rentals were


Leon Stone, Hamptons International: While there continues to be a shortage of new properties for sale within the Barbican, finding buyers and selling properties is easy, yet achieving exceptional prices while delivering outstanding levels of customer service is what we repeatedly hear that vendors are looking for. While 2012 has indeed been challenging for many reasons, 2013 is expected to be a year in which many more transactions take place, and continued lack of stock coupled with high demand means that we shall undoubtedly see prices continue to rise.


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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Nick Scott of Scott City: Stock levels in the City have improved slightly in the last couple of months although in the Barbican we still have very little for sale. Strong demand from international buyers has allowed prices to remain at an all-time high many of whom are attracted to the Barbican as well as other City developments.


Prices seemed to have reached a level where they have now remained for a couple of months with no sign of them dropping. The signs are that the market will remain steady over the next few months and into the early part of 2013 where we could well see prices start to rise again. The City still remains a very safe investment for anyone looking to purchase residential property. Glen Cook of Hamilton Brooks says, so far this year transaction levels have almost certainly been at an all time low, this in turn has led to huge price increases. The hoped for pick up in instruction levels after the Olympics did not happen, as we reach the middle of November we have seen a slight increase, but still not enough to satisfy demand.


The reality is that now more than any other time of year we have a large increases in buyers, mostly cash, but some very well financed, with very little sign of any sellers, unless demand drops (unlikely) this will lead to more price increases, but you have to ask yourself if this will continue?


One of the big issues facing sellers is what their flat or house is worth, it is trickier than ever if you have very few comparisons, only an expert in the field will know, so be careful not to under sell, as it does happen regularly.


Lettings


Jack Davison of Scott City: The rentals market seems to have the opposite problem to that, of the sales market. We currently have a wide cross section of rental properties available on our books, while demand is proving to be on the decline. The hope is that, with the remaining time leading up to Christmas, the market can pick up once more. Glen Cook of Hamilton Brooks says: Presentation is still the key to successful letting, the market is tougher, City redundancies have taken a toll. Demand is in the lower sectors up to £500/£600 per week, for good quality 1 and 2 bed apartments, and neutral colours and clean presentation are key.


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