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Not the tenuous link that you may first think...

 

It is not really unreasonable to suggest that the recent Volkswagen scandal has had a tangible effect on consumer’s opinion of the German powerhouse’s integrity. The financial markets have certainly been vocal and recently UBS analysts halved VW’s target share price over the next 12 months.

 

Ok, but what does this news have anything to do with Docklands property? How could this possibly affect the value of a 2-bedroom apartment in Canary Wharf, a dockers cottage on the Isle of Dogs, or a new development in the Royal Docks. Let me explain…

 

I attended a fund-raising event this week. In attendance were numerous high-net-worth clients and senior finance people. I was fortunate enough to be seated next to a middle-east fund manager. It transpired that several of his clients had lost money as a result of the inevitable nose-dive that VW share prices took. Fund managers don’t like losing money (remember that their job is to MAKE their clients money) and their clients like losing money even less. As a result, millions and millions of pounds have been liquidated from these funds investment in VW and, yes you guessed it, being ploughed into……..property. I imagine this scenario has been played out on a global scale. Most funds have an element of their investment made into blue-chip stock; stock that is supposed to be low risk. Funds in Russia, China, Europe and the States are all likely to have had some degree of investment in VW.

 

Now, granted, not all of these funds will be buying property in the Docklands but you can bet that some of them will. Some of them will be buying property in surrounding areas. However, all of the money coming into the UK property market will increase further demand in a property market where supply is already low. The result? I predict further price increases in 2016.

 

If your current estate agent is not taking into account these external forces, I would suggest you may not be talking to the right people.

 

Feel free to contact me or my team for further advice.

 

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The Chancellor announced this week that buy-to-let investment purchases would be subject to an additional 3% stamp duty cost as of April 2016. Here are my thoughts on what effect that will have on our market;

I believe that many potential investors who are on the edge of making the all important, do I/don't I decision, will now have one more reason to move quickly and expedite their purchase. In clear terms, on a property purchase price of £250,000, there will be an extra cost of £7500 if you buy that same property after April 2016. Investors are a canny bunch and this means that they are ALL about the numbers. So, many people are now predicting a stamp duty stampede (try saying that quickly or after a few glasses of your favourite red!). Investors will be asking themselves "Why wait and incur an extra cost?!" And its a fair question. Our nations population is increasing and our new home building rate is actually going down. There has never been, in my opinion, a better time to be a landlord.

This news comes at a very interesting time for the property market. Where November, December and January have traditionally been quieter months, I believe the revised stamp duty structure will add extra impetus to a market where stock levels are already low. When you also consider that the major property portals actually record massive spikes in website visitors over the festive period, I genuinely feel we will continue to see both price increases and high levels of demand all the way through the next few months.

This means that if you are looking to sell, now is a great time to get your property on the market. Any agent who tells you otherwise, is absolutely not in-tune with current market conditions. Feel free to contact me or one of my team for a current valuation on your property; we may well surprise you!

Spencer Fortag

This is how The Wharf newspaper reported our recent Macmillan coffee morning;
 
Landmark Estates held a Halloween inspired coffee morning on Friday 30th October in order to raise money for Macmillian 
Held in the function suite of Burrells Wharf the E14 based estate agent treated residents of Burrells Wharf and locals to a feast of home baked treats, hot drinks and games. 
Kids were encouraged to dress up in Halloween attire and the best dressed was treated to a £25 Argos gift card courtesy of Landmark Estates, the judges unanimously declared Dracula as the winning costume.  
Organised by branch manager David Smith, Landmark Estates raised a fantastic £150.00 across the two hour coffee morning.

We are happy to announce the most recent addition to our awards family! Landmark are the most recent recipient of the Best for Lettings in the Docklands area at the Real Estate and Property Awards 2015..

 

Landmark Estates joins national award scheme recognising the best estate & letting agents in the UK.

Landmark Estates, the Docklands based agent has entered the Estate & Letting Agent Awards.  The scheme recognises the best agents based on research conducted through sellers, buyers, tenants and landlords around the UK.

The award scheme, known as The ESTAS measures the quality of customer service provided by agents through the home buying, selling and rental process. 

Phil Spencer, TV Property Expert says “I think it says a great deal about a company that’s prepared to stand up and announce to customers and competitors that they believe in providing the best possible service and they’re happy to prove it.  These awards help agencies to focus on customer service levels and that’s why so many sign up each year”

“Taking part in the ESTAS sets agents apart from their competitors.  It sends a clear message that they are passionate about customer service, prepared to go that extra mile for their clients and keen to listen to feedback”. 

David Smith manager of Landmark Estates said “We take our levels of customer service very seriously because we know clients have a choice.  We have always been very proud of the personal service we provide and this is great way to demonstrate how good we really are.”

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