Market Round-Up - Paul Price
Fri 31 May 2013
Paul Price, Associate Director and Sales Manager at Marsh & Parsons, Brook Green.
Competition amongst buyers is highest in the 1.5m to 2m price bracket, where buyers can get a 2,000 sqft Victorian family house for less than 2m - a rarity so close to central London. As a result, we are achieving record prices for these premium properties and the price per square foot is being pushed above 1,000 in many cases. Indeed, we hae just recently sold a three-bedroom house on Milson Road for 1,044 per square foot to a buyer originally registered with our Notting Hill office. Despite the local price increases, they saw Brook Green as offering comparitively great value. So far almost 30% of our sales have been to buyers registered with our Notting Hill, Holland Park, Fulham and North Kensington offices. Compared to other areas of London, Brook Green hasn't had the same level of interest from foreign investors. However, the area is starting to attract an increasing number of foreign nationals, who have perhaps spent the last year or two renting in nearby areas of London and decided to settle in Brook Green, Where the transport links into central London offer a great, more affordable alternative. After 36 viewings for a property on St Dunstans Road, it was an Italian cash-buyer who snapped up the house for the full asking price.