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Alfies View 7th November

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Published: 07/11/2017   Last Updated: 07/11/2017 16:13:05   Tags: Alfies View 7Th November 2017

Malverns has gone INTERNATIONAL with properties for sale and for rent in Switzerland, Holland and Spain. If you are looking for the perfect ski chalet just outside Verbier or a fantastic family home near the coast, under an hour from Amsterdam do give us a ring.
The current London lettings market is gently ticking over after a busy end to the summer, we still have applicants searching so do let us know about your property if you are wanting to rent it out.
The sales market is still being held by the high cost of Stamp Duty tax but we have properties under offer with some great new ones coming to the market.

Alfie's view: Refurbishment and redecoration

Published: 12/09/2017   Last Updated: 12/09/2017 12:38:02   Tags:

More than ever in this increasingly competitive rentals market it is essential to present your property in excellent condition in order to maximise the rental potential.   We have a trusted team of contractors that we have used for many years who are competitively priced and highly skilled who can carry out work ranging from routine maintenance and redecoration to a complete refurbishment.  All works are administered and overseen by our management department.  We would be delighted to advise you so please do give us a call or pop in to the office if you are passing.

 

ALFIES VIEW

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Published: 06/09/2017   Last Updated: 05/10/2017 17:30:01   Tags:

A BIG thank you to Claire for these amazing chocolates. Happy landlord.

Head of Sales

Published: 05/09/2017   Last Updated: 05/09/2017 16:06:11   Tags:

Alexander has worked in the property sector for over 30 years and has been behind many a happy and successful story in both sales and acquisitions in London and property development in Florida.  His considerable knowledge and understanding of the Prime Central London property market together with a meticulous eye to detail and a strong sense of discretion ensures that every client receives a first rate service. 
Weekends are spent relaxing with the family at home on the Isle of Wight and the week in London catching up with old friends be it over a pint at Lords or keeping an eye on the culinary scene.

ALFIES VIEW - PASTURES NEW

Published: 27/07/2017   Last Updated: 27/07/2017 14:02:25   Tags:

We are sad to say that Nigel has left Malverns to pursue interests outside estate agency, in particular to promote his Simply Sicilian venture involving the sale of delicious foodie bits from Sicily. He has been Head of Sales at Malverns for almost 3 years and in Agency for over 30 years. We will miss him and his fabulous sense of humour which has kept us smiling throughout the trials and tribulations of the London property market and the political scene!

We are however delighted to welcome Nigel's replacement, Alexander Leon, who will be starting at Malverns on 7th August and we look forward to introducing him to you if you require any sales advice or FREE valuation. Alexander is extremely experienced in the industry having set up and run the sales department in various companies in Central London. We have no doubt that he will be a great success.

Celebration Time!

Published: 29/06/2017   Last Updated: 29/06/2017 09:10:19   Tags:

CELEBRATION TIME AT MALVERNS! Many congratulations to our Director and Head of Management, Claire, who has today reached the incredible milestone of 20 years at Malverns.  Claire joined the company in the same year that Tony Blair became Prime Minister, Great Britain handed back Hong Kong to China and Princess Diana was tragically killed in France.  She has built a wonderful relationship with all of the contractors that Malverns use, ensuring that our landlords are never kept waiting for repairs or maintenance issues and she manages to make a very difficult job look like it runs itself, which is the mark of an excellent manager.  Here's to the next 20 years!

Alfies View - The Diary of an Office Dog

Published: 02/06/2017   Last Updated: 02/06/2017 14:49:37   Tags:

Well apart from Brexit, the pending general election, a national report saying that for the first time since 2009 house prices have dropped for the third month running and a seasonal slow-down, we are having an OK month!  Well, to be clear, the lettings side of the business is pretty good but sadly, as with the rest of the country, the sales have slowed considerably.  However, we are forever looking for the positives of every situation and with prices as low as they are going to drop, surely this is a fabulous time to get out there and start making offers? It's all relative of course.  If you have to drop your price a little to get yourself a good buyer, then you are perfectly placed to take advantage of your position and do the same on your purchase.  The only people who lose are the agents who will have to take a slight drop in their fees!  It's a sacrifice we are prepared to make to keep the market moving!  So, our advice is to stop believing all that is in the papers about a depressed market, get out and make an offer and between us we will get people moving again.  Next time I write the election will be over and hopefully we will be returning to normal! (whatever that is)!

Alfie's View - Market Update

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Published: 02/05/2017   Last Updated: 02/05/2017 16:09:22   Tags:

By way of keeping on top of market trends, rising (or falling) house prices and effects of political developments on the housing market, I try and read as much research from some of the respected agencies around London as I can.  Latest research into the current trends in the residential sales market in Central London is particularly interesting.  The above graph shows some fascinating spikes and falls in house prices following significant political events over the past 10 years, with monumental events such as the introduction of the Help To Buy Scheme, amendments in the Stamp Duty Threshold, General Elections and of course the EU referendum.  Interestingly one of the most significant factors, remains the seasonal effect on transactions.  Albeit, figures can be distorted by events such as the 3% additional land tax bill (Stamp Duty) for the purchase of a second home, which actually saw a significant spike as buyers sought to beat the deadline.  Interesting and noticeable are the figures showing a slow down of buyers registering ahead of the Scottish and the EU referendums.  Both were followed by a rapid bounce back in demand!  The UK housing market is likely to continue on it's current trajectory in the run up to the election with price growth expected to ease in the coming months.  As ever the headline numbers mask a multi speed market, with latest data from the ONS showing that average house prices in the East of England, rose by 10% in the year to February, compared to 4% in Greater London. and 2% in the North east.  My thanks to Knight Frank Research Department for these facts and figures.

Alfie's View - The Diary of an Office Dog

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Published: 13/04/2017   Last Updated: 13/04/2017 16:09:52   Tags:

Well with the Bank Holiday weekend approaching I want to wish all of our friends, customers and contacts a very Happy Easter!  The weather looks like holding up and with so much going on in our fantastic city, it's sure to be a wonderful few days.  The annual Tall Ships Regatta is on over the weekend, starting at Greenwich,  which really is a spectacle to behold.  The Passion of Christ draws huge crowds to Trafalgar Square on Good Friday, with over 100 performers.  For the children or just lovers of dinosaurs, there are 30 life size animated dinosaurs on display at Osterley Park.  Be sure to Google all the Easter Egg hunts and most all have a fabulous time and stay safe!  We return to the office on Tuesday and are delighted to report an increase in activity with viewings and valuations booked for the coming month!  Happy Easter Everyone.

Alfie's View - The Diary of an Office Dog

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Published: 29/03/2017   Last Updated: 29/03/2017 11:25:55   Tags:

So finally, after what seems like an eternity, the letter signalling the end of our relationship with the EU is signed and will be delivered today!  I am still in a state of shock that it has got this far but now must be the time to embrace it and get on with our lives!  My personal opinion and not that of Malverns as a company, is that it is a sad day and one that will be looked back on in history as hugely monumental.  However, there is no point in dwelling on it and we as individuals and businesses now have to work on how the whole process can make everyone's lives easier.  We will embrace the foreign investors who are taking advantage of the weaker pound and we will continue to offer a professional and friendly service to all of our clients.  In over 40 years of trading, Malverns have seen many changes and we continue to thrive whatever the circumstances.  I am sure that in these exciting times, we will jump on board and do whatever it takes to continue to be the successful agents we have been for so long.

Alfie's View - The Diary of an Office Dog

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Published: 22/03/2017   Last Updated: 22/03/2017 11:17:49   Tags:

Well what a pleasant atmosphere in the office as we celebrate a couple of exchanges!  It's what we come to work for, to ensure the sale goes smoothly for the seller and ensure the buyer is not let down at the last minute.  Two fabulous sales have this week exchanged contracts, one of which, a stunning Mayfair apartment, took only a week to get there!  The buyer was a joy to work with and did everything that Nigel asked of him to ensure his solicitor was well placed to offer an early exchange.  It just goes to prove that if you are prepared to run around a bit and do a little bit of preparation before selling, then the sale does not have to take months on end to complete!  Great work all round from the buyer, seller and of course the solicitors who enabled it to happen so quickly.  The other exchange was far simpler, with no pressures from either side!  The equally good news is that we are also happy to have some new properties to sell, including a delightful apartment in Cranley Gardens, which is bound to go quickly.  I haven't even mentioned the fabulous investment opportunity in Nigels home town of Bournemouth, which has come on at an excellent price and would suit anyone looking to rent out to University students.  All in all it has been a good week, with the Spring rush feeling like it's in full flow!  Be sure to check our web-site for all the latest properties to buy or for rent and the offer of a coffee and a chat is always there should you wish to pop in and see Alfie!!

Alfie's View - The Diary of an Office Dog

 

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Published: 15/03/2017   Last Updated: 15/03/2017 11:29:54   Tags:

How lovely to see the daffodils out and feel a bit of sunshine on our backs!  Having just left a freezing New York, where temperatures plummeted to -12 while I was there, I am probably appreciating the warm snap more than most!  The good news for us here at Malverns is that with the warm weather, flowers in the garden and sunshine, come increased levels of activity, sales and rentals and a flurry of people wanting to move by the Summer.  We have already noticed the phones starting to ring and leads coming through our network of property portals, which is encouraging to say the least.  The next step is to turn the activity into solid business, and progress those sales and rentals through to a speedy completion.  Here at Malverns we pride ourselves in the fact that we lose very few deals once tied up.  We believe that the sale or let is only 10% complete at the point of offer and the hard work starts when we deal with the solicitors, surveyors and other agents, trying to make the deal happen.  Our professionalism at this stage is what sets us apart from the rest, ensuring that all the documents are where they should be and that people know what they should be doing at what time.  You can rest assured when you instruct Malverns that we offer the complete service, from the initial viewing to enjoying that celebratory glass of Champagne when you move in.  Call us now to discuss our Summer rates and our offer of a FREE MARKET VALUATION.

Oh and don't forget to tune in or record our very own Head of Rentals, RIA GEERLING, appearing on HOMES UNDER THE HAMMER on Thursday 16th March..

Alfie's View - The Diary of an Office Dog

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Published: 07/03/2017   Last Updated: 07/03/2017 16:02:16   Tags:

Well Alfie has handed over the reins to me today and I cant hide my excitement!  I'm just about to put my files away and head off to the Big Apple, for a weeks break to see my newly arrived Grand Son.  It's a lot easier to leave the office having done some good deals over the past few days.  Both Sales and Lettings have found buyers and tenants respectively and the Spring rush well and truly seems to have arrived!  Make sure you call us for any last minute advice prior to placing your own property on the market, whether it is concerning the presentation of the property or financial advice, or even if you need to find somewhere to go to.  Our sales and lettings teams will be on hand to talk you through the process.  I'll be handing back to Alfie for the next blog and look forward to writing again on my return!

Alfie's View - The Diary of an Office Dog

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Published: 01/03/2017   Last Updated: 01/03/2017 10:00:03   Tags:

Well things really got exciting this week, as our 'resident chef' Niki, bought her pots and pans together with eggs milk and flour and treated everybody to her delicious pancakes... sadly the race around the office was cancelled due to health and safety reasons but they were successfully flipped to carry on the tradition.  Meanwhile, the market has been as flat as a pancake over the half term break but both Nigel and Ria in sales and lettings respectively, have reported a steady increase in activity since the children returned to school.  This is always a popular time to market a property, with the lighter evenings, warmer weather approaching and a few flowers in the gardens and window boxes.  For ideas and suggestions as to the best way to prepare your home for sale or rent pop in and have a chat with any of the team, who would be delighted to help out.  A simple de-clutter can often be all it takes to make a living room look more spacious. Store some of the personal photos to avoid a distraction and place some fresh flowers on the table.  These are obvious, yet very effective ways to enhance the look of your property.

Alfies View - Diary of an Office Dog

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Published: 21/02/2017   Last Updated: 23/02/2017 10:49:37   Tags:

Really encouraging to notice an improvement in the sales market this week.  Nigel has had a couple of offers he's working on and even more encouragingly, he has had a fabulous instruction to sell a spacious apartment, set over two floors, in a beautiful Pont Street building.  Situated so close to Harrods in one of the best areas of London, this apartment will surely not be on our books for long.  Offered with a porter, two bedrooms and unusually with a 30' garden, it really is extremely well priced at just £2.5m.  Full details can be found, along with other properties for sale and to let, on our website.

Alfie's View - Market Update

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Published: 15/02/2017   Last Updated: 15/02/2017 17:07:15   Tags:

With so much information at our fingertips and the advent of 'fake news' over the past few months, it's difficult to decipher what's real and what's not.  I can Google 'House Price Increase in South Kensington' and get bombarded with reports suggesting we are riding on the crest of a wave and we've never had it so good!  I can then Google, 'Price Slump in South Ken' and I'm met with scare monger stories, talking about the end of the property boom as we know it!  However, what I can do is report some facts collected from local agents in SW7 and they make interesting reading.  Annual change in prices achieved in SW7 is up 1.8%.  Annual change in the number of sales transactions, is down 35%.  The average price per square foot in SW7 is now £1,848 and the discount achieved on the initial asking price is 8%.  There are 7% more properties available now than at the same time last year and 9% of available properties are under offer, with 49% being reduced in price. Lastly, 66% of properties have been available for over 3 months.  I will steer away from analysing these figures too closely albeit fairly obvious we need more buyers.  With Brexit uncertainty and Stamp Duty hikes, we noticed a slow down in applicants registering but as the fog lifts we would now expect those numbers of people looking, to increase towards the Spring.  These figures are a helpful guide to know who, as agents, we need to attract but we have to realise there is no such thing as a perfect scenario, with equal numbers of buyers and sellers.  Low levels of buyers means more wiggle room on the asking price, which should generate more buyers!  And so the market moves onwards and upwards!

Alfie's View - Diary of an Office Dog

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Published: 31/01/2017   Last Updated: 31/01/2017 13:54:02   Tags:

Well I guess we all new it was never going to be a smooth ride once President Trump was inaugurated! If he wanted to steal the headlines over the coming weeks, then he's certainly achieved his goal with his policy to ban 7 countries citizens from travelling to the USA.  Let's hope the powerful people who pull his strings are able to bring some order to the situation before it goes too far.  Back at home we are seeing a steady improvement to the property market as we move into February.  This is the time historically that we notice more people start to consider moving and the levels of valuations and viewings increase steadily.  Over the years the desire has been to make that move in the Spring and be in your new home in time for the warmer weather.  Here at Malverns, we are able to help you with all your home moving requirements, whether you are looking to let out your existing property, in which case Ria Geerling is your contact, or maybe you want to sell and buy somewhere else, using Nigel, our head of sales and acquisitions.  Niki is also on hand with advice across the board, while Claire in Management, maintains the smooth running of all of our rented properties.  Whatever is going on around the world, we at Malverns offer a steady ship, using our years of experience and local knowledge.

Alfie's View - The Diary of an Office Dog

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Published: 25/01/2017   Last Updated: 25/01/2017 10:02:43   Tags:

Well what a difference a week makes!  Nigel went away on Thursday for a weekend in the snow and when he came back, the new President has been sworn in and there is a block on the Brexit plans, thanks to a lady called Gina Miller.  I guess you have to admire anyone who is so passionate in what they believe, that they are prepared to fight the government to get what they want.  I'm sure there are a lot more twists and turns to come before we have clarity.  I have to say though, that it's sad to see that the President is going ahead with his threat to build a wall!  What decade are we in?  On the home front, we are pleased to see a few more valuations and viewings in the diary.  Hopefully this will result in some sales or lets over the coming weeks.  I know that Nigel is still offering a healthy discount on sale fees, should you instruct him before the end of the month, so get your ice skates on and give him a call. 

Alfie's View - The Diary of an Office Dog

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Published: 17/01/2017   Last Updated: 17/01/2017 13:15:53   Tags:

Well love him or hate him, we have to accept that by the end of the week, there will be a new President of the United States.  The man who was more famous for his spray tan and uttering the words 'You're Fired' than his politics... is to take up the most powerful political position in the world!  Do we embrace him and say give him a chance or do we run for cover and prepare for a bumpy ride?  Who knows?  The political situation in the UK, with people still divided over Brexit is enough to deal with but the impact of American politics, does affect the UK and in time it will have a knock on to the housing market.  Be it a weaker pound, which will attract foreign investors, or a stronger pound encouraging local buyers to invest.  Either way, we feel confident at Malverns, that property will continue to sell, whether to 'buy to let' investors, in which case our lettings team, headed by Ria, will be able to find a tenant, or simply to owner occupiers, who feel the time is right to move, in which case our sales team, headed by Nigel, will be happy to help out.  All we will say is get on board now for what is definitely going to be an exciting road ahead!  January Special Offers on selling fees still apply!

Alfie's View - A Star Amongst Us!

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Published: 12/01/2017   Last Updated: 12/01/2017 10:42:15   Tags:

Our resident TV celebrity, Ria, has this week made her 5th appearance on the popular BBC show, Homes Under The Hammer.  Her years of experience in the business are often called upon by the producers who ask for expert advice at the start and end of each show.  As ever, Ria represented Malverns looking and sounding fantastic and no doubt we will be inundated with phone calls from people who have spotted her on TV.  For those who missed the initial showing of the programme, you can do Catch Up on the BBC iPlayer (Series 20, episode 62). 

Alfie's View - The Diary of an Office Dog

Published: 10/01/2017   Last Updated: 10/01/2017 09:40:37   Tags:

Well, two weeks into the New Year and the early signs are good.  Activity on both the sales and lettings side of the business bodes well for the coming year.  Obviously we realise that there is an element of uncertainty surrounding the Brexit situation, but we can only report it as it is and right now we are enjoying a steady start to 2017!  As a New Year Offer, the sales department, headed up by Nigel, are offering special reduced rates for any properties coming to the market on a 'sole agency' before the end of January.  With buyers registering in their numbers, it could be a smart decision to put your house on now and beat the Spring rush!  Life in the office continues to be fun, with plenty of visitors to keep me occupied since my drama in Devon at the weekend!  I am fully recovered and actually enjoying the pampering I've received as a result of it!  Well it's time for me to get in my bed and have a nap, so have a great week and feel free to pop in for a coffee and a chat at any time!

Alfie's View - Happy New Year!

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Published: 03/01/2017   Last Updated: 03/01/2017 11:40:35   Tags:

How time flies!  No sooner were we putting the decorations on the tree and attending the wonderful Carol Concert in Sloane Square, than we are all back in the office, looking forward to a busy 2017!  I hope all our friends and contacts had a wonderful Christmas and on behalf of Malverns Estate Agents, I would like to wish you all a prosperous and Happy New Year.  I was interested to read over the festive break, that a number of the larger estate agents in London are incredibly optimistic for the coming year, with predictions of slow but steady growth in both sales and rental prices.  This slightly goes against the national prediction of a quiet year until a 2% growth in 2018, but early indicators are that they may well be right.  We noticed a fair amount of interest over the break from people looking to view properties and also a couple of valuation requests, in one case as far out as Shooters Hill.  We take great pride in being able to offer properties all over the country, and even sold a flat in Bournemouth in 2016!  We had viewings as far away as Gleneagles in Scotland and providing the asking price is correct, feel confident that we will find a buyer for you wherever you are.  Prime Central London is of course our main focus and it is here that we continue to see the most success, with some wonderful properties for rent and sale in Mayfair, Kensington, Fulham and Chelsea.  We look forward to catching up with you early in the New Year and want to remind you that we are free to discuss all your property requirements, be they in sales, rentals or property management.

Alfie's View - Wonderful Christmas Party

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Published: 02/12/2016   Last Updated: 02/12/2016 13:10:44   Tags:

Incredibly it's that time of the year again! We were delighted to welcome over 75 of our friends, clients and contacts to the Malverns Annual Christmas Party on Thursday 1st December.  The wine and Prosecco flowed and the excellent nibbles, prepared by JP, went down a storm.  As with last year, we were pleased to welcome the wonderful chocolate shop from Thurlow Square, Jeff de Bruges, who ran 2 raffles and gave away a selection of their amazing chocolates.  They seemed to be doing steady trade throughout the afternoon, as was the excellent Lily Gardner, with a selection of Christmas gift ideas from her shop in Chelsea Farmers Market.  Simply Sicilian also did a wonderful amount of business, selling their array of Sicilian olive oils, marmalades and almond treats.  Tracklements amazing pickles and mustards were as popular as ever.  Raising money for the Motor Neurone Disease Association, the staff raffled a magnum of Bordeaux, generously donated by Ann, and deservedly won by one of our longest serving clients, Miles Duncan.  Overall, the day was a huge success and judging by the feedback, was enjoyed by all.  As we are now into December and feeling festive, I would like to take the opportunity to wish all of our friends, clients and contacts, as well as your families, a wonderful Christmas season, with plenty of festive food, fun and fizz!!

Alfie's View - The Diary of an Office Dog

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Published: 24/11/2016   Last Updated: 25/11/2016 16:06:25   Tags:

There is never a dull moment in Malverns Estate Agents!  What a wonderful weekend it was for Nigel, who celebrated the arrival of his first granddaughter, a beautiful little girl called Olivia.  Not such good news for Niki though, who found herself in hospital over the weekend.  I know the staff will all join me in wishing her a speedy recovery and hoping that it's only a matter of time before she's back in the saddle again and of course in the office with the team.  The market continues to surprise everybody, with some last minute sales being put together, although the rental side is very quiet as we approach the festive period.  Here at Malverns we are convinced that the spike in sales is due in part to the lower value of the pound against other currencies.  A number of foreign investors, as well as some bullish British buyers have shown that even with a new regime in the USA and an uncertain future in the UK, they are still prepared to invest in what historically has always been a solid property market.  we will continue to keep you posted with market developments as the year ends and we move into 2017.

 

Alfie's View - Time to Find That Dream Home!

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Published: 28/10/2016   Last Updated: 25/11/2016 12:16:44   Tags:

You can always tell that the property market is improving.  The fun and games in the office slow down and the team is busy on the phones or out on appointments.  I know that Nigel is delighted to finally have a healthy selection of new property to sell, all of which can now be seen in full detail on our wonderful new web-site. whilst Ria is continuing to let everything she gets and Niki is busy assisting both sides!  The management side with Claire at the helm continues to do what it does so well and it's a dog's life for me as I have to make my own entertainment!  I know that it's a long way from where we were over the past few years but the levels of activity are encouraging.  If you want to sell or let your home, there are buyers and tenants out there, so why not call us in now for a free valuation.  Who knows, you could find yourself moving into that dream home by Christmas!

Alfie's Olympic View - The Diary of an Office Dog

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Published: 16/08/2016   Last Updated: 01/09/2016 15:00:07   Tags:

Whether you are a sports fan or not, you cannot fail to be impressed by the amazing achievements of our fabulous Olympians!  Right up there with the USA and ahead of China in the medal table is simply sensational!  It's even taken away from the other main event that has been happening and is a favourite of mine... the Westie Olympics!  The dogs compete in sprints such as the  'Paw hundred metres'  and the Paw by Paw relay... not to mention the singles and pairs water ski-ing (pictured!).

It's not to late to take advantage of our huge discounts being offered to any vendor instructing Malverns to sell their property, throughout the Olympics.  Talk to Nigel or Niki on sales and Ria if you want to rent or let your home, or simply pop in for a friendly welcome from us all.

Alfies View  - Diary of an Office Dog

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Published: 08/08/2016   Last Updated: 01/09/2016 14:36:09   Tags: Alfies View

How fantastic to have the Olympics back on our telly!  Can you believe it's now 4 years since the sensational London 2012?  Team GB have got off to a flyer with a World Record and Gold Medal in the pool, courtesy of Adam Peaty.  The two gymnastic teams are competing tonight with a view to both getting on the medal rostrum as are the ladies rugby team, the country's favourite diver, Tom Daley and a whole host of other athletes and competitors.  How refreshing to see so many British medal prospects in the games.  Good luck from all at Malverns to all our competitors representing Team GB!  As an OLYMPIC GAMES SPECIAL OFFER, we will give anyone who instructs Malverns to sell their property, throughout the period of the games, a 20% discount in our sole agency terms!  Talk to Nigel for more details.

Alfie's View - Diary of an Office Dog

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Published: 29/07/2016   Last Updated: 01/09/2016 14:27:10   Tags: Alfies View

One of my favourite times of the day is when I get to 'share' everyone's breakfast in the office! It's such a social event every day, with market conditions being discussed and the plan for the day being mapped out, not to mention the cinnamon toast, latte and fruit that are on offer.  Long may the morning meeting continue!

Alfies View - Diary of an Office Dog

Published: 30/06/2016   Last Updated: 01/09/2016 14:26:17   Tags:

As Alfie is away on holiday at the moment, it has fallen on Nigels shoulders to give us Malverns take on the current political and economic situation in the UK and the way we envisage it affecting the London property market:


 

MALVERNS & BREXIT


 

Those of us in the London property market had been anxiously awaiting the results of the Brexit referendum, as the lead up period had been full of uncertainty, resulting in lower transaction volume. With the 24th June 2016 vote to leave the European Union, unfortunately, surety has not been restored and many are wondering what this means for United Kingdom, and the London property market.


The Aftermath


The results of the vote triggered an immediate reaction in the financial and currency markets, with the pound plummeting to a 31-year low against the US dollar. The FTSE opened with a fall of 8.7% (although recovered) and both house building and banking shares were amongst those hardest hit.


Even with the initial response being very dramatic, agreeing the terms of the exit from the EU could take up to two years to negotiate (from the time Article 50 is invoked) which could mean many more months of uncertainty.


London’s Place


The capital has been an area of prime real estate for a number of years, so as the hub of property investment, both for the UK and foreign investors, the London property market could suffer significantly. Over the last few months, we’ve already seen property sales volume decline ahead of the referendum and on the back of recent stamp duty increases. Given the capital’s links to the financial sector, rental rates may also be adversely impacted as nervousness in the financial sector and potential job transfers may impact rental demand.


However, in the midst of the many dire scenarios, there will always be opportunities. Seasoned investors have often secured their best deals during times of turmoil. With the sterling’s recent decline of over 10% (relative to USD) it has not only offset recent stamp duty increases, but may also cover any potential reductions on lower rents, good news for foreign investors. For those with a long term view, buying property is still a good investment, particularly when compared to alternative investment options.

For some sellers, we have had to have the difficult conversation of price reductions, but we’ve also successfully completed sales transactions, so deals are being done. For those sellers who have owned their properties for a long time, prices in London are still well in excess of the low points of 2007 and 2008, meaning that they are likely to be selling at a profit. But now more than ever, it is important to price to the market and being armed with the latest data and information is critical. In addition, with interest rates that are still historically low, first time buyers may also have a unique opportunity to get on the property ladder.

What’s next?

 

Only time will tell what the long term landscape of United Kingdom outside the EU looks like, but for London, the fundamentals remain compelling:


     • Significant shortage of housing relative to supply
     • Stable regulatory and legal system
     • World class education and cultural institutions.

 

With a long term strategy, the London property market will continue to be a sound investment.


Property buyers and sellers should consider the facts and make decisions based on reality, not fear or misconceptions. Those who will need to move will still do so and those needing shelter will still look to buy or rent. It is easy to make a good investment in times of stability and upward trends, but more challenging in times of turmoil and uncertainty. However, given the historical returns of the property market, it is still a worthy consideration.

If you are concerned about your property investments or would like to discuss the Brexit effect, please contact us for a free consultation

 

Alfie's View - Diary of an Office Dog

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Published: 25/06/2016   Last Updated: 01/09/2016 14:27:56   Tags: Alfies View

We were delighted to sponsor a fence last week, at the Dauntsey Park, Horse Trials.  'Malverns Mound' as the fence became known, was a true challenge to all the eventers, and was bedecked in the Malverns 'To-Let and For Sale boards.  The annual event sees some of the country's finest jumpers, including William Fox-Pitt, having a quick spin before heading off to Rio.

Alfie's View - Diary of an Estate Agent

Published: 24/06/2016   Last Updated: 01/09/2016 14:27:26   Tags: Alfies View

Well BREXIT has happened!  I have to admit to being a little surprised and having stayed up to watch the results coming in, it was only this morning that I began to appreciate the enormity of the situation.  David Cameron has informed the nation of his intention to resign in 3 months time and now the implications of the deal have to be discussed with whoever takes control to map the way forward for our great nation.  We will shortly be preparing a breakdown of how the changes will affect the housing market but to be honest it is pretty difficult to say without all the facts in front of us.  However, we are situated in one of the worlds most sought after locations and will always enjoy the benefits of our position here.  I am sure that once the ship is steadied and a new leader is in place, the market will return to normal and we will find a way to move forward together as a united nation.

Alfie's View - The Diary of an Office Dog

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Published: 23/06/2016   Last Updated: 01/09/2016 14:27:23   Tags: Alfies View

I'm sure by the time you read this, the election will be over and the repercussions of being IN or OUT will be taking effect.  Nigel and Ria had much more fun than discussing elections when they went along to the Annual Lonres Summer Party.  Held for the second successive year in Belgrave Square, the heads of sales and lettings enjoyed some wonderful canapés and a few glasses of wine, whilst catching up with friends and contacts from the property world.  The rain held off and it was a lovely warm evening.

Alfie's View - Diary of an Office Dog

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Published: 22/06/2016   Last Updated: 01/09/2016 14:27:17   Tags: Alfies View

Well with Alfie away on holiday, it falls on me to write the latest edition of Alfies View. It would seem ridiculous not to mention the impending referendum.  Whatever your leaning, it has had an affect on the market, as any uncertainty does.  By the time Alfie returns from his holiday, we will know the result and life could have possibly changed dramatically for us all.  Only time will tell if we will have made the right choice but I am sure that the market will eventually settle down and buyers will continue to invest in what is the most desirable location in London and probably Europe.  The most important thing is that we all use our vote.  I hope the result goes the best way for the UK and I look forward to speaking to you on the other side!!

Alfie's View - We're Fit for a Dame

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Published: 19/05/2016   Last Updated: 01/09/2016 14:19:48   Tags: Alfies View,

What an absolute pleasure it has been over the past few months, to be the selling and buying agent for none other than Dame Diana Rigg.  The former 'Avenger' and 'Bond Girl' is still working hard and can be seen in the current series of Game of Thrones as well as many other TV dramas.  Her legendary status originates from the role of Emma Peel, working alongside Patrick Macnee.  Nigel and Alfie were suitably star struck when Diana walked into the office and they have since formed a wonderful friendship.  Diana's beautiful 4 storey house in Ifield Road was snapped up by a cash buyer and then Nigel accompanied her around a series of apartments before eventually settling on a delightful top floor mansion apartment. The whole experience has been a joy for Nigel and the team at South Kensington, who have taken every opportunity to listen to Diana's fabulous stories of the showbiz world.

Alfie's View - A Glorious Weekend

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Published: 09/05/2016   Last Updated: 01/09/2016 14:23:11   Tags: Alfies View

Well Spring certainly arrived with a bang!  What a fantastic weekend.  I was fortunate enough to be taken to Marlow in Bucks, for a walk through the bluebells and with temperatures hitting 27 degrees, it really was glorious!  Hopefully the good weather will have the usual effect on the property market and the team will notice a surge of buyers and tenants!  Ria, Niki and Nigel would love to see you for a coffee in the office and to discuss any property queries you may have.

 

Alfie's View - Well Done Jess!

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Published: 25/04/2016   Last Updated: 01/09/2016 14:36:44   Tags:

We are all so proud to have sponsored Jess in the London Marathon on Sunday.  Nigel's daughter was competing for the first time and as she says 'the last time'!!  The day coincided with her 24th birthday and she recorded a fantastic time of 5hrs 07 mins.  We would all like to congratulate Jess in raising nearly £3000 for charity and representing Malverns so well!!

Alfie's View - Happy Birthday Your Majesty!

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Published: 21/04/2016   Last Updated: 01/09/2016 14:59:40   Tags: Alfies View

What a lovely sunny day for a 90th Birthday!  We would like to join the rest of the nation and the commonwealth, in wishing Her Majesty the Queen a very happy 90th Birthday.  What an inspiration she is.  Fittingly, her birthday is just a couple of days before St Georges Day and we want to wish all our English friends and clients a wonderful double celebration!

Alfie's View - Wedding Bells

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Published: 14/04/2016   Last Updated: 01/09/2016 14:59:48   Tags: Alfies View

Great excitement in the office, as Nigel's daughter Amy, is set to marry her childhood sweetheart, Andre, this coming Saturday.  I'm so excited I thought I'd share a photo of a family wedding I attended some time ago!  Good luck to the happy couple!  On a serious note, we are getting over the rush that occurred when the stamp duty law changed last week.  Solicitors were working until the early hours to push deals through and I'm glad to say they didn't disappoint, with all our expected deals exchanging contracts on schedule.  Life goes on post deadline day and Nigel has just been instructed on a lovely detached house in Barnes for just £2.3m.  With sales happening in Bournemouth, Gleneagles Scotland, and Barnes, Malverns are turning into a UK wide company!  Don't worry though, we still specialise in what we know best, the sales and rental markets of Chelsea, Kensington and the surrounds.  Pop in and see the staff here for an update on what your property might be worth to let or sell.

Alfie's View - Diary of an Office Dog

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Published: 07/04/2016   Last Updated: 01/09/2016 14:35:49   Tags: Alfies View

It's been a while since I've posted a dog picture just for the heck of it!  So here it is... Just when you think your life is difficult and you've got a lot on your plate... spare a thought for this tired looking Dalmatian! I should probably launch a quiz to see exactly how many there are in the bed!!  Count the spots!!

Alfie's View - Running for Charity

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Published: 04/04/2016   Last Updated: 01/09/2016 14:35:43   Tags: Alfies View

What a lovely Easter weekend!  Loads of chocolate, a little bit of sunshine and a lot of relaxing!   Not for Nigel's daughter Jess though, who is busy training for this years London Marathon.  She is aiming to raise £3,000 for the Katie Piper Foundation and Malvern's are delighted to have supplied some of her training and running gear!  To donate please go to Jess's Just Giving page at: https://justgiving.com/jesshumphriss  Thank You.

Alfie's View - Sponsors Needed

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Published: 15/03/2016   Last Updated: 01/09/2016 14:24:25   Tags: Alfies View

We are delighted to be sponsoring Nigel's daughter Jess, in her first ever London Marathon on April 24th.  She will be wearing the Malverns colours as well as those of the Katie Piper Foundation, the Charity Jess is raising money for.  We are hoping to help her raise her target of £3000, with a little bit of help from our loyal friends and customers.  She is already half way towards her target and we believe that with a little push and some small donations from malverns clients, we can push her over the target.  Katie Piper is a Charity that raises awareness and money for burns victims as well as acid attack victims.  Please give generously if at all possible.  https://justgiving.com/jesshumphriss

 

Alfies View - Diary of an Office Dog

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Published: 22/02/2016   Last Updated: 01/09/2016 14:36:16   Tags: Alfies View

There Ain't Nothing Like a Dame!  And we certainly found that out over the past few months!  Nigel has been dealing with one of the country's best loved actresses, who happens to also be a Dame, with the sale of her house and onward purchase of her new home!  An absolute joy to deal with, this lady has regaled us with some wonderful stories of her life in films TV and on the stage.  Having found a buyer for her beautiful town house, we then set about the search for a stylish apartment and both sale and purchase are due to go through imminently. 

Alfies View - A Sad Day

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Published: 01/02/2016   Last Updated: 01/09/2016 15:00:27   Tags:

Well what a sad start to the year it's been.  With the loss of musical maestro David Bowie, earlier in the year, the tragic death of the wonderful actor Alan Rickman and now the sad death of the broadcasting legend, Terry Wogan, it's hard to find anything cheery to say.  All of these amazing people will be missed by young and old.  I know that every generation will have fond memories of  Terry in particular, whether it's my generation, who have woken up to Wogan for years on radio 2 and fondly remember his 3 nights a week chat show, or those who remember him on Blankety Blank, or my daughters generation who will remember him presenting Children In Need.  My own personal favourite was when he added his witty comments to the Eurovision Song Contest.  His appeal was universal and the sadness at his death will be felt for a long time.  We add our condolences to those of the millions across the world and wish the families strength in this sad time.

Have You Outgrown Your Home? - Is It Time To Move?

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Published: 01/02/2016   Last Updated: 01/09/2016 15:00:45   Tags:

It's hard to believe that today is the first day of February!  It only seems 5 minutes ago that we were entertaining our friends and contacts at our Christmas reception here in the office!  The market has actually been pretty good since the turn of the year, especially for Ria in the Lettings Department, who seem to be doing some excellent business.  In the Sales Department, Nigel and Niki have a few retained clients, who are actively looking to find and the one frustration is the lack of stock.  It's clear that if they get the properties at the moment, they can sell them.  If you are contemplating a move this year, or have simply outgrown your existing home (just like me!) it might be that now is the best time, with an abundance of buyers looking to move quickly and a shortage of homes to move to.  Similarly, we have the investors who are practically queuing up to buy ahead of the April 1st increase in second home tax.  Call us now for a free market appraisal, whether it's for sales or rentals.

Alfies View - Happy New Year

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Published: 05/01/2016   Last Updated: 01/09/2016 14:33:30   Tags: Alfies View

Can you believe that quick as a flash, it's all over?  Where did the last few weeks go?  All the team are back in the office and trying to catch up with a stack of emails from prospective buyers and sellers, landlords and tenants.  Sales and lettings lines are busy and everybody is optimistic that the signs are good for 2016.  Please feel free to pop in with a treat for me and a chat with either Ria in lettings, Nigel in sales or Niki, who would be happy to discuss either!  From all at Malverns, including Claire from Property Management, we would like to wish all our clients and friends a Happy and Prosperous New Year!
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