At Wetherell we pride ourselves on our market knowledge so every month we like to share our insight with our Mayfair Aficionados. Using the drop down menus you can review our archive and see the latest round up.
Wetherell Reports archive - view our market reports from 1993 to 2007
We specialise in Mayfair residential property - it is the only area we deal with, so whilst our competitors try to be all things to all people, we continue to be the Estate Agents for the residential community of Mayfair
Wetherell is the leading estate agent in Mayfair, central London’s prime residential area. We specialise in houses to rent in Mayfair, flats to rent in Mayfair and Mayfair property for sale. Of all the estate agents in Mayfair, no-one knows the area better than Wetherell. If you are looking for property for sale in central London or central London apartments and need an estate agent in central London then please contact us.
© Wetherell 2009
The Grand old Duke ofYork
he had ten thousand men
He marched them up to the top of the hill
And he marched them down again.
When they were up, they were up
And when they were down, they were down
And when they were only halfway up
They were neither up nor down.
With the volume of property transaction up considerably on the same time last yearMayfair
property market.
but still substantially below ’07 & ’08 volumes, it is still a very confusing time for all concerned in the
Every week another prediction breaks that the market is going up to be countered by another report that it is going down.
Markets are intoxicating but it is dangerous to make judgements when so little sales data is available. The Grand old Duke of York from the nursery rhyme would have had a field day in the current property market. Timing is everything – the Duke however having built his secure fort at the top of the hill, took his troops down into the valley - a big misjudgement as he lost the battle.
New to Market Sells
AlthoughMayfair stocks are low, new property put on the market in
2010 represents nearly 25% of the market.
With 10% of the stock currently under offer it is interesting to note
that it is not from the 30% of the stock that has price reductions but those
properties which are fresh to market and sensibly priced.
Serial Sellers – For Sale but never Sold
Wetherell have tracked a number of Mayfair properties which have been available for over a year, having been put on at far too high a figure and then followed the market down with price reductions. Now with reports of price increases they are trying to push the asking price up again.
Property that is correctly priced and well marketed has no problem finding a buyer – indeed there are always more than one interested party and the market through competition finds its value level.
Website Traffic Doubled
Our website traffic has doubled over the last 6 months and demand certainly outstrips supply for prime property, the only problem is that most of the buyers think that cash is king and the vendors have no pressure to sell unless they are tempted.
Weakening Pound
A weakening currency could therefore help but the prospect of an indecisive General Election has put many overseas buyers on hold.
New to Market
At the top end of the market we have recently launched three Mayfair Mansions inCharles Street Upper Brook Street Green Street
On the rental market we have a St James’s pied a terre in Rose & Crown Yard at £495 p.w., a maisonette by Claridges at £850 p.w. and theMount Street Berkeley Square