Absolutely Fulham: Hey Big Spender
Sat 01 Dec 2012
William Hughes-Ward, Associate Director at Marsh & Parsons, South Kensington.
The Chelsea property market has experienced peaks and troughs of activity across all price bands this year. Activity up to 2 million has been suprisingly buoyant with a severe lack of property and a plethora of buyers from all over the globe looking to acquire. However, the 2 million to 5 million price band has ben more challening. Fabulous properties that would have been snapped up in a matter of weeks last year, are taking much longer to attract interest. There is no doubt in my mind the 7% stamp duty charge earlier this year, coupled with other obvious distractions, has directly affected the attitudes of would-be-buyers in this price band. Above 5 million, the market continues to surge. We are registering a great number of overseas buyers wanting super-prime properties and willing to pay super-prime prices to guarantee the 'perfect' property. Currently, we have fourteen buyers for every property and I expect this ratio to be even higher for 2013.