Residential Sales, Lettings and Property Management
Parkheath is an independent network of three offices located in Belsize Park, West Hampstead and South Hampstead. Established for over 25 years, we have consistently sold and let every type of property, on every local road, in every type of market condition.
Competition in the Conservation Area
James Clark
Sales Manager, Parkheath
23.04.12
Recently marketed by Parkheath, this one bedroom apartment in Broadhurst Gardens NW6 with large reception and southerly views has received ten offers,
more than half of which
are at asking price or above.
If you own or let a similar
property in
Call James Clark on 020 7433 6105 if you would like Parkheath to value your property for sale.
Property Management: New Dedicated Office
Annette Ross
Lettings Director, Parkheath
05.04.12
Due to an increase in demand from landlords for property management, Parkheath has opened a dedicated office in Belsize Park. Our London-wide property management includes the following services:
- Arrange regular rental payments made on the client's behalf, including any necessary tax deductions
- Dedicated telephone and email contact for tenants
- Transfer utilities and arrange settlement of final accounts
- Arrange annual gas safety checks
- Carry out periodic inspections of the property and report on its general condition
- Settlement of regular outgoings such as ground rent, service charges, maintenance charges with your agreement
- Arrange any cleaning or garden maintenance necessary to put the property in order before or after the tenancy
- Arrange all repairs and maintenance to the property
- Arrange an independent inventory and schedule of your property
- Provide a key-holding service
- Arrange to re-negotiate a further rental period or end a tenancy
- Manage the check-out and deposit negotiation process
The new office can be found at 155 Haverstock Hill NW3 opposite Belsize Park tube station, or telephone our property management team there on 020 7722 6777
Property Focus: Garden Flats in the NW6 Conservation Area
James Clark
Sales Manager, Parkheath
19.03.12
Parkheath’s South Hampstead office has just sold it’s third garden flat in Canfield Gardens NW6 in six weeks.
Having sold two garden flats on the north-facing side of the road, on the market at £1.3m each, Parkheath took on a similar garden flat in the same street, which had the additional bonus of a south-facing garden. Fierce competition immediately ensued, resulting in multiple bids and six offers at and above the asking price of £1.4m.
Property in South Hampstead's Conservation Area is always sought-after, and Parkheath's long-standing presence in the area means that their experience there is second to none.
Contact James Clark direct on 020 7433 6105 if you would like Parkheath to value your property for sale
State of the Market
Tom Gladwin
Managing Director, Parkheath
20.01.12
IT'S AGREED THAT 2011was undoubtedly a tough one for Great Britain, and forecasters predict this will continue into 2012. But how was it for the property market in prime North West London?
INVESTORS KEY TO MARKET GROWTH
The traditional tinder to spark the property market into life are first-time buyers. As finance continues to be tricky to secure, and rising rental prices hinder the chance of saving a larger deposits, true first-timers are few and far between. However they have been replaced in greater and greater numbers by investors seizing the chance to make far greater returns than are possible keeping money on deposit, and with far less risk than is currently normal in the stock market. With interest rates low and rents high, returns are good. This year we have also seen a fresh influx of foreign money. The Arab spring and uncertainty in other Middle Eastern countries, and the instability of the European banking system has led to safe harbours being sought: one of the most popular being Prime London Property. We have responded to the increase in this sector by expanding our rental department and by opening a dedicated Property Management office close to our existing office in Belsize Park. Just as pension holders have used fund managers to grow and administer their investments, they are now using professional management services to protect their new property investments. This has led to an increase of 22 per cent in the number of properties which Parkheath manage.
LONDON VS NATIONAL
What has been clearly highlighted is that the property market does not operate as a single entity. Not only is the London market vastly separate from the rest of the UK, but within the London market, certain, highly desirable areas have outperformed lesser ones. And even within those areas, certain streets or types of property have increased in value more than others
INTEREST RATES AND CONFIDENCE
Recent reports from the Chancellor and the Governor of the Bank of England do not paint a rosy picture for the next few years. The positive to be drawn from this is that interest rates are unlikely to rise in the foreseeable future which means that money held on deposit will remain unproductive and people will continue to search for better performing investments. So long as this is the case, there will be a greater number of investors looking for property, which creates extra demand, putting a strain on the supply of available properties and leading to an increase in confidence as people compete for properties. As this is reported to buyers and sellers alike, prices are pushed higher.
LONDON 2012
Over the course of 2011 in the prime areas of North West London prices rose by around 8%. This year London is, of course, hosting the Olympics, and so will be the focus of the world's attention. Historically, after the closing ceremonies have ended, property in Olympic cities has enjoyed strong and immediate growth, and I believe that London will be no different. Perhaps there will not be the dramatic change that was seen in Barcelona, but I still think that the buzz created by the greatest show on Earth will reflect kindly on the market. Early in the year canny buyers will be keen to buy, before any surge in interest caused by the Games pushes prices higher in the autumn. The regeneration of the areas most local to the Olympic Village and the new housing created will quickly be snapped up as more and more people are drawn to our wonderful city.
Prime areas will continue to outperform the rest of the capital. The best properties in Belsize Park and South Hampstead are already regularly breaking £1000 per square foot and the demand for them will only push this higher. I would not be surprised if the figure for growth in 2012 was approaching 10%.
Property Provides Safe Harbour
Tom Gladwin
Managing Director, Parkheath
29.09.11
THE SWELL IN PROPERTY DEMAND in prime North West London is continuing as investors look for ‘safe harbours’ to ride out the current financial storm. In prime residential areas such as Belsize Park, South and West Hampstead we are seeing a rise in both sales and property prices despite the gloomy financial outlook.
The current volatility in the world’s stock markets and the ever present threat of Southern European Countries defaulting on their loans, combined with the impending Public Sector government cuts, has lead to a pretty bleak outlook for the nationwide property market. However for us, the market could not be more different. In uncertain times large-scale investors often seek the safe harbours provided by gold and cash. For the private investor, property in prime North West London is increasingly seen as a ‘safe haven’. With the cash rich getting little or no return on their money in the bank, property is still promising excellent, inflation proof, long term capital gain, with immediate returns from rising rental incomes.
This influx of new investors has once again increased the level of competition within a market where demand already outstrips supply. This has made other buyers more confident about the long-term sustainability of the local property market. People have become more comfortable with moving within the market. The result has been a reduction in stalemates, where buyers are waiting while sellers struggle to buy which has often meant chains of sales and purchases remained incomplete.
To conclude, we are looking at an exciting property market with more properties to sell, and more buyers keen to purchase. More transactions have been completed; more people are buying property and more people want to buy property. Prime London is still promising a buoyant future.
Top Property Website Confirms Parkheath Success
David Stern
Director, Parkheath
23.08.11
LEADING UK PROPERTY WEBSITE Rightmove has placed Parkheath 2nd out of 81 agents in the local area for winning instructions during July and August this year.
Rightmove, who claim more views-per-page than all of the other property websites put together, and who earlier this summer were ranking higher than Yahoo in terms of page impressions, released the placings last week in statistics which record competition between property agencies.
Reflecting our commitment to the highest level of service, the Rightmove figures underline Parkheath's success in taking properties to market. Homeowners in NW3 and NW6 who are looking to instruct an agency in the sale of their home should contact Parkheath now on 020 7431 1234 (NW3) and 020 7794 7111 or 020 7625 4567 (NW6)
Do You Own a Property in Belsize Park?
David Stern
Director, Parkheath
27.07.11
WITH THE OPENING of the new French school in Kentish Town this September we are experiencing a huge surge of demand for properties from French families wanting to buy and rent in Belsize Park, a desirable area with easy access to NW5. The school, sponsored by the French government, will take 700 pupils and will have links to the French Lycee in Kensington. Contact us now on 020 7431 1234 if you have a property to sell, or 020 7431 3104 if you have a property to rent.
Don't Just Take Our Word For It...
Tom Gladwin
Managing Director, Parkheath
28.06.11
AT PARKHEATH we like to find out what people who have used us think of our service. A post-completion follow-up call to our vendors and buyers is ideal for reviewing people's opinions and helping us to improve what we do, and we're delighted to say that in 98% of cases - when asked - people say that they would recommend our service to others.
We also get valuable feedback on a daily basis from vendors, buyers, landlords and tenants who e-mail us with their comments and thoughts. You can find more of these on our Testimonials page under 'About Us' on this website, but this one came in on the e-mail this morning and is very representative:
David,
Again, thanks for your help - I really think your call on holding out for the higher figure was inspired. I was ready to accept the lower offer so definitely added value!
When we were looking for an estate agent to sell our Belsize Park flat, we wanted a company with a strong local presence and specific knowledge of the area. Parkheath, as sole agent, quickly brought us in over 30 viewings and in just a few weeks we accepted an offer very close to the asking price. In the current difficult market, Parkheath's advice on marketing and price and their consistent professionalism made all the difference, and we would recommend them to anyone looking to sell their flat both quickly and for a good price.
Thanks again.
Felix
Word-of-mouth recommendations such as the above speak volumes, and we hope these will help anyone who is currently in the position of choosing an agent to sell or rent their home in NW3, NW6 and the surrounding areas.
Parkheath Rental Market Patterns
Annette Ross
Lettings Director, Parkheath
24.06.11
OVER THE PAST SIX MONTHS Parkheath has seen the rental market in NW3 and NW6 falter, recover and then go from strength to strength. Despite a dip towards the end of the first quarter, demand has risen again pushing rental prices upwards. With both NW3 and NW6 enviably positioned for access to the City, these are areas which are extremely sought-after by high profile tenants and, with job vacancies in the City up by a quarter over last year, the numbers of such tenants seeking to live here are on the increase.
January was very fast-paced, with many new applicants registering and new properties to process. During February and March demand was sustained and the new applicants list continued to increase, but the number of available properties dipped. Towards the end of April however available properties were on the increase, and rental values - particularly for one and two bedroom apartments - began to rise. Demand for rental properties throughout May was extremely high, both from individuals and from relocation companies who, in seeking to position their clients, were consistently coming in with asking price offers, an indication that the budgets of blue chip companies had increased.
We will see a buoyant summer market throughout June/July/August as these are traditionally the changeover months for ex-pats and also for those wanting to be situated for the start of the academic year. Now is an ideal time to talk to us if you have a house or flat to rent in Belsize Park, West Hampstead, South Hampstead and the surrounding areas.
Annette Ross, Belsize Park Office 020 7431 3104
Kate O'Neill, West Hampstead and South Hampstead Offices 020 7794 7111 or 020 7625 4567
Prices Rise to 15% Higher Than the 'Peak'
Tom Gladwin
Managing Director, Parkheath
09.06.11
RECENT NEWS of yet another drop in the national average house price figures and claims that prices may well drop by a further 10% have the economic doom-mongers rubbing their hands with joy.
'Don't buy now, you could save thousands' is the reported advice.
And this may well be useful guidance for those living in many areas of the United Kingdom; however it could not be further from the case in the prime areas of North West London in which Parkheath specialize. As with many things, one prescription doesn't suit all.
If you want expert advice, surely you talk to an expert in the specific area you want to know about. You wouldn't consult an orthopaedic surgeon if you had a problem with your kidneys. So national figures and predictions should also be taken as such. You need to look much closer to home for useful advice on the area you want to live in.
Parkheath would advise you that the property market in Belsize Park, South Hampstead and West Hampstead is busier than ever. An increase in the number of properties coming to the market has been outstripped by an even greater number of buyers registering with our offices. These buyers are more often than not in fantastic buying positions. With large deposits and low 'Loan to Value' mortgages or even entirely cash purchasers, issues with the constricted finance market are largely overcome. Investors looking for greater returns than those given by the banks or stock market are also underpinning the market.
As a result, we are busier than ever. We are seeing prices at 15% higher than the 'peak' of 2007. On most sales, we are receiving multiple bids as savvy buyers see through the negativity portrayed by the media. So, if you are unsure about the market, swayed by stories you have read, please don't be. If you wait for five years to save the 10%, as many 'experts' are quoting, I think it likely that the property you wish to purchase in Parkheath's prime areas will be 30% more expensive than it is today.
