The Homes One Spring newsletter: Meat and potatoes... but no gravy!
Being a Londoner at heart, I am susceptible to cockney street slang at times.
And I’ve resorted to such measures, in an attempt to summarise London’s property market just now.
There’s meat and potatoes to be had, but no gravy.
And although it might sound acceptable to you that the main nutritional food groups (protein and carbohydrates) are still available, we all know what makes a good Sunday roast into a great one… it’s the gravy.
However, lest we forever bemoan what we don’t have, rather than what we do, let’s acknowledge where we are and enjoy what’s on offer – because things are (whisper it quietly) a little better than last year.
My friends in the industry (at both corporate and local levels) are observing the same thing, and calling the bottom of the market (https://tinyurl.com/y5n27fr2), with a stronger start to 2019. A confluence of factors – lower stock levels driving prices off the floor, people acclimatizing to the uncertainty and longevity of Brexit politics, not to mention a distinct lack of stability anywhere else in the world – are supporting the view that London property has not lost its allure, and there are currently deals to be done (we are mainly transacting in the £5-10m bracket).
However, as I blogged a while back, the new normal is ‘VUCA’ – volatile, uncertain, complex and ambiguous. Which means the market is slow and hesitant – albeit much recovered from the lows of 2009-2012 - while investors find their feet in unfamiliar territory.
You can still operate a good business in London property – but there’s no gravy yet…
We might be close… but there’s no cigars!
Areas to invest in:
Bayswater is adjacent to Notting Hill and has brilliant access to the west end - exciting developments are underway:
Finchatton deliver £1bn Whiteleys regeneration: https://tinyurl.com/y654j6lk
Fenton Whelan’s neighbouring scheme in Queensway: https://tinyurl.com/yxvp3aby
Olympia is going to be the new Westfield (and due to Olympia’s equestrian history the best coverage is in Horse and Hound!): https://tinyurl.com/yyuwb7r5
Catch up on our most recent blogs:
Three trends for the year ahead: https://www.homes-one.com/blog-all/2019/2/15/three-trends-for-the-year-ahead
Finding the edge is a niche game these days: https://www.homes-one.com/blog-all/2018/11/6/london-property-finding-the-edge-is-a-niche-game-these-days
My wife Najwa and I on working together: https://www.homes-one.com/blog-all/2018/10/1/my-wife-najwa-and-i-on-working-together
Do come and see us soon:
Homes One Towers is always open and ready to receive guests.
We are located above The Ivy on Kensington High Street, and we have great coffee.
Of course, if you’d rather have lunch, rest assured there is always an abundance of gravy at The Ivy… just in a literal, rather than metaphorical, sense!
You’d be most welcome.