Complimentary property MOT, January 2018

 

Merry Christmas 

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Dear friend,

In Lebanon where I am originally from, we are well known for three things: we are good at business, we love good food, and we obsess about politics!

I confess to enjoying the first two :)

But growing up in London I learned to have an open mind, and to value objectivity above all else.

I am passionate about bringing these qualities to clients from all over the world, and to offer them unbiased advice on the prime residential London property market.

And often, over good food!

Looking back:

As a business in 2017, we went through a lot of positive changes.

We moved into our dream office (above The Ivy in Kensington!), made our partnership with Atelier NM design (my incredibly talented wife’s international interiors business) official, and we worked on our largest deals to date (see highlights at the end of this letter).

We maintained the Homes One record of saving our clients more than their fee in 95% of transactions, which gives us immense joy and satisfaction.

Thank you all, for being a part of the Homes One journey.

Property round up:

  • Brexit is looking more like Bremain every day! Theresa May is all squared up by Tory rebels, the Irish border question, the single market, a whopping divorce bill and the unthinkable prospect of no-agreement... It looks more and more likely we will have a softer deal, and this should mean one thing - a return to the even, steady economic recovery we were all enjoying up to summer 2015.
  • Prices will follow certainty. I don’t see prices rising in the first half of next year. However when we get more colour on the deal in autumn 2018, we may finally see some confidence return. It won't be a get rich quick thing, but the market should play into the hands of mid/long-term investors as confidence comes back. As I blogged earlier this year, with Brexit looking soft any notions that Armageddon is nigh can be shelved. As the pieces of that puzzle fall into place, London will be rightfully restored to its position at the top of the international property league.
  • Activity at the top of the market remains surprisingly buoyant. Brexit or Bremain, many people simply believe that London is too big to fail. In the past few weeks we've exchanged at 5.5m, had an offer accepted at 10m, and missed out on a residential investment deal in Bloomsbury at 15.5m, to a higher bidder. Interestingly there were multiple bids because the price was right and my sense is there’s a lot of pent up demand for well priced assets. As ever we are in the mix and transacting regularly, both at these levels and in homes around the £1m mark. 

Property MOT:

Please contact me for a complimentary consultation to discuss any requirements in the New Year. Email me your request (karimbazzi@homes-one.com), or call me directly on 07958 485 611.

Back to my roots:

I love being in London at Christmas. We are privileged to feel safe and secure in this wonderful city, which I believe is the foundation of such a resilient property market.

Wishing all my friends here, and farther afield, a peaceful and prosperous finish to the year, and more of the same in 2018.

Very best,

Karim

 
Karim Bazzi