London - UK, June 2008 - Hamptons International, one of the UK’s premier residential agents has recently revealed that realistic pricing will help stop house prices falling further, by encouraging movement within the current property sector.
The residential agent has confirmed that activity is still taking place at the 10-15% price drop level, and as a result of these drops there are some fantastic investment opportunities for buyers.
This is especially the case across London – within the prime residential markets. London has witnessed price drops of approximately 15% over the last six months. However, it is also continuing to enjoy a steady stream of interest from buyers, with viewing levels up 12%, when compared to the same time last year.
In fact, the recent price drops have provided investors with excellent opportunities. This is especially the case within some of the most sought after areas in London including Kensington, the City and Clapham. Hamptons International figures reveal the some of the top reductions include: a six bedroom property in Orlando Road, Clapham (20% drop from £2.85m to £2.3), a two bedroom apartment in Kensington (20% drop from £1.1m to £895k) and a two bedroom converted warehouse apartment in the City (15% drop from £1.25m to £1.075m).
Phil Tennant, Regional Director, Hamptons International said, “We have seen that where clients have taken our advice on realistic pricing, there is a sharp increase in offers for those properties. London is a unique market with a restricted supply which means prices which have been reduced to reflect current market conditions are helping to generate buyer interest once more.”
Outlined below are ten excellent investment opportunities across London currently available through Hamptons International. These provide a snapshot of the current properties available that offer outstanding value for the discerning buyer:
Tower Bridge:
The Flag Store: £1,075,000 (previously £1,250,000)
REDUCTION: ALMOST 15%
This stunning property has been reduced by almost 15% and has fantastic original character with exposed brickwork and beams. It also has a spiral staircase, a mezzanine level, two en-suite bedrooms, a roof terrace and parking. Shad Thames is a highly desirable location steeped in history, with a variety of bars and restaurants within walking distance.
Telephone Hamptons International: +44 (0)20 7407 3173
Vogans Mill: £739,950 (previously £775,000)
REDUCTION: ALMOST 5%
This fantastic waterside conversion has great views of the Shad Thames dock and the area is very accessible with many residents choosing to walk across Tower Bridge rather than to use the excellent transport links available. The property is on the fourth floor and has two bedrooms, en suite to master, porter and parking.
Telephone Hamptons International: +44 (0)20 7407 3173
Park West: £429, 000 (previously £465,000)
REDUCTION: ALMOST 7%
A well presented second floor two bedroom apartment with West facing balcony and views across the Tanner Street tennis courts and park located just off Bermondsey Street. Bermondsey Street, known for the old Antiques Market, is now a vibrant area with an eclectic mix of boutiques, gastro pubs, bars and restaurants. A park and tennis courts provide further amenities and are well used by the local residents.
Telephone: +44 (0)20 7407 3173
Clapham:
Netherford Road: £2,275,000 (previously £2, 750,000)
REDUCTION: OVER 17%
This former Coroner’s Court built in 1901 has been reduced by nearly 20% and now makes excellent value for a buyer looking for a fascinating property that has been transformed into a stunning family home. With its high ceiling and large rooms (many with restored original parquet floors), it also benefits from a separate mews house that could act as staff quarters and a fabulous wine cellar.
Telephone Hamptons International: +44 (0)20 7498 8686
Orlando Road:
£2, 300,000 (previously £2,850,000
REDUCTION: ALMOST 20%
Also reduced by almost 20%, this remarkable house has extensive living space, has an enormous breakfast room with double-height glass backing onto the garden. Benefiting from six bedrooms, it has separate entrance on the lower level with access to a separate bedroom and bathroom that would work perfectly as a granny flat or guest area and the whole property is finished to the highest quality.
Kensington:
1 Napier Close: £775, 000 (previously £695,000)
REDUCTION: OVER 10%
Reduced by 10%, this is a well presented raised ground floor maisonette, with a lovely bright south facing reception room and the added benefit of a private patio garden. Napier Close runs off the northern side of Napier Road to the west of the open spaces of Holland Park. The numerous shopping, restaurant and transport facilities of Kensington High Street and Olympia are close by. Telephone Hamptons International: +44 (0)20 7937 9371
Abbotsbury House:
£895,000 (previously £1,100,000)
REDUCTION: ALMOST 20%
This bright second floor two bedroom, two bathroom apartment has been reduced by 20% benefiting from a double aspect reception room and a west facing balcony. The property also has the benefit of a lock up garage and a porter. Abbotsbury House is located off Abbotsbury Road, convenient for all the shops, restaurant and transport facilities of Holland Park Avenue and the open spaces of Holland Park.
Telephone Hamptons International: +44 (0)20 7937 9371
Richmond:
1/86 Goldhurst Terrace: £875,000 (previously £1, 050,000)
REDUCTION: ALMOST 17%
Reduced by over 15%, this is a superbly presented 3 bedroom 2 bathroom maisonette with a 50ft private garden and off street parking, located in one of South Hampstead's favourite residential addresses
Telephone Hamptons International: 44 (0)20 7794 8222
Wimbledon:
Lyle Park £765,000 (previously £795,000)
REDUCTION: ALMOST 5%
This splendid two bedroom Victorian Villa built in 1892 has a most interesting history and was divided into luxurious apartments in 2001. The property is entered via a spectacular communal reception hall complete with handsome fireplace, impressive staircase and mosaic tiled floor. This apartment is found at the rear of the property.
Telephone Hamptons International: +44 (0)20 8946 0081
6 & 6a Currie Hill Close: £2, 575,000 (previously £2,750,000)
REDUCTION: ALMOST 6%
A stunning & contemporary five bedroom house in a prime Wimbledon Village location. Photographs from a property within the same development. This property also benefits from a garage and off street parking.