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BARBICAN LIFE


it is a “trick of the trade” that some developers will list flats as under offer or hold units back. The Barbican is unique and will continue to


grow in popularity, certain styles of flats have outperformed the equivalent size in others parts of the City but the architecture is not appealing to all age groups in my experience. .If you want to achieve the best price possible use an “experienced” Barbican agent!”


Nick Scott at Scott City: “Still we continue to see demand massively outweigh supply having the effect of prices continually increasing. We now have two new developments adjacent to the Barbican, Heron Tower and Roman House both offering luxuriously appointed apartments


and being sold for a price per sq. ft. that we haven't experienced in the City before now. These developments have undoubtedly contributed to Barbican prices increasing. Crossrail is now very much part of our everyday life in the City as we see the massive construction project taking shape with the new stations at Liverpool Street and Farringdon underway. When complete this will offer fantastic access to the West End of London, Heathrow and the East, another major attraction to living in the Barbican.”


Glen Cook at Hamilton Brooks: “No change on the supply side for Barbican apartments. Transaction levels are at an all time low, but that’s


not because of lack of demand, nothing could be further from the truth, demand is at an all time high. The trickiest subject now facing Barbican Residents is how does an agent access the current value?


So far this year I have seen 4 examples of a non-Barbican specialist Agents undervaluing by up to £100,000, purely because they are not involved in transactions daily and take comparables from the last of that type that sold, which will give you the wrong value, when bearing in mind it takes up to 5 months to hit the Land Registry data. Unfortunately most of these low value sales are either probate or non- resident (distant landlord) sales, so unless we can reach them they will never know they are underselling.”


Leon Stone at Hamptons: “As The Heron and Roman House near completion we have seen a huge increase in interest in the Barbican area specifically. Having already agreed the first two resales of Heron apartments to buyers directed through our Hong Kong office, Hamptons are having regular conversations with Asian and Middle Eastern buyers who are seeing the Barbican as a great area to invest their money. Hamptons can offer those wishing to maximise the value of their Barbican home an opportunity to tap into these affluent markets.


LETTINGS COMMENTS Glen Cook: “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.”


Jack Davison at Scott City: “The Barbican market is as ever, buoyant, which is certainly encouraging for any Barbican landlord waiting for that next tenant to arrive. Particular interest seems to be aimed in the direction of studios and one beds throughout the Barbican, with prices seeming to be more than holding their own. There is a market for the larger properties, whilst there is a good level of sharers and small families registering details. Certainly high hopes for Spring.”


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