Brik Magazine Q4 2014 by Ben Littlewood

NOVEMBER 2014 07 ELECTION FEVER 18 THE INDUSTRIAL LOOK 25 Tomorrow’s Transport

to ďŹ nd your nearest showroom

Poliform UK Ltd 276-278 Kings Road London SW3 5AW, tel 0207 368 7600

Design Centre Chelsea Harbour SW10 OXE, tel 0207 352 0064

CONTENTS

ISSUE 21 BRIK MAGAZINE NOVEMBER 2014

election fever

SALVAGING THE INDUSTRIAL LOOK

Tomorrow’s Transport, today

PROPERTY MARKET

Marc Da Silva

INTERIOR & DESIGN

INVESTMENT GUIDE

Rowena Vaughan

BRIKOLAGE

Do I need a survey?

Break Glass In CASE OF AN Emergency

NEWS & INTERESTS

KNOW MORE

Fraser Maldoom

SELLER’S GUIDE

Sub 3%

INVESTMENT ISN’T A DIRTY WORD

Consoles

MORTGAGE MARKET

Alistair Hargreaves

BUYER’S GUIDE

INTERIOR & DESIGN

Magenta Pink Interiors

Josh Woodfin

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14 THE ARTIST’S HOME

22 PRETTY LITTLE THINGS

36 PROPERTY GALLERY

Brik Magazine is published by Brik Property Ltd (Brik) and the opinions expressed in this magazine do not necessarily reflect those of Brik, the editor, publishers or their agents. Articles and other information in this magazine are as up-to-date and accurate as possible, at the time of publication, but no responsibility can be taken by Brik for any errors or omissions contained herein. Responsibility for any losses, damages or distress resulting from adherence to any information made available through this magazine is not the responsibility of Brik or their agents. All property descriptions and photographs contained within are for guidance only and are not necessarily accurate or comprehensive. All content Copyright © 2013 Brik Property Ltd. All rights reserved.

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CONTRIBUTORS

Alistair Hargreaves

Kate Thornston

Journalist

Mortgage Expert

Magenta Pink Interiors

Josh Woodfin is a writer and editor with nearly 10-years experience including credits with the Guardian, House, Esquire, and numerous other high-profile magazines and websites. His interests include antique maps, cooking with fish, and post-apocalyptic thrillers. He once beat Usain Bolt in a race...with an 80-meter head start.

Alistair is an Executive Mortgage and Protection Consultant with John Charcol, specialising in High Net Worth and complex deals for both residential and buy to let. Being in the financial services industry since 2004, Alistair worked for banks, building societies and mortgage brokers, seeing both the good times and the bad times.

Kate Thornton is a partner at Magentapink Interiors. She formerly worked in a Barristers’ Chambers but having renovated several houses of her own decided to re-train and set up Magentapink Interiors in 2010 with friend and business partner Veronica Lucey.

Rowena Vaughan

Marc Da Silva

Fraser Maldoom

RJV Designs

Property Journalist

Capital Chartered

Rowena studied interior design at London’s prestigious Chelsea School of Art (UAL). She has over 20 years’ experience refurbishing everything from a simple residential bathroom to the Crockfords Casino Mayfair.

Property journalist, Marc Da Silva, has an encyclopedic knowledge of all things property having written for a range of publications, including the Daily Mail, Daily Express, Sunday Business Post and A Place in the Sun, amongst others.

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Josh Woodfin

Fraser knows pretty much everything there is to know about London property stock, being a Chartered Surveyor with nearly 30 years of South West London experience and Director of local firm Capital Chartered Surveyors and Valuers.

New Loewe Connect. An exceptional range of Ultra HD 4K televisions.

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Loewe Connect. Breathtaking Ultra HD 4K picture quality and outstanding sound, thanks to state-of-the © art speaker technology from audio specialists SOEN . A truly multi-talented television, featuring Loewe’s unique integrated DR+ hard disk recorder with the convenience of mobile recording. And with the Loewe Smart tv2move app you can even stream live TV or recorded content to your tablet. New Loewe Connect is distinctive and yet timeless, meticulous in its attention to every detail, hallmarks of a product beautifully engineered and manufactured in Germany. Available in Black, Silver, Cappuccino and Petrol Blue in screen sizes from 40” to 65”. www.loewe.tv

Property Market

election fever There’s no doubt about it: The general election will influence the direction of the residential property market significantly, in the coming months, especially in London.

WORDS

Marc Da Silva Property Journalist

With just six months remaining until next year’s general election, many people are still undecided about which party to vote for. To simplify things hugely: There are a huge amount of things to consider when casting your vote: from education and tax to Europe and the NHS, there are a wide range of things that people need to consider when electing a new government.

“From Help to Buy to Right to Buy, government policies can have a big impact on housing and property prices, in particular.” Home prices have increased twice as fast under a Conservative government since 1970, at an average of 19% per year compared to a Labour performance of 10%

However, on an annualised basis, UK prices performed most strongly under Edward Heath when growth averaged 32.8% per annum, although high inflation rates contributed to the strong growth recorded during his premiership. Of course, a sharp rise in prices can be of comfort to some homeowners who may be potentially seeking to cash in on the boom and downsize to a cheaper property. However, it often concerns those with aspirations to gain a first foot on the housing ladder or upsize to a larger more expensive property, and so they may be hoping for lower price increases or even a drop in values altogether. The property market promises to be a major issue in the run-up to next year’s general election, but what are the main policies the parties are proposing to attract your vote - and how might the result affect you?

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However, there is another important issue that many of us need to deliberate and that is which government is best suited to oversee the residential property market? Labour and the Conservatives are currently neck-and-neck in various polls, while in spite of weaker support, the Liberal Democrats’ will be hoping to win enough seats to see it return to Government as part of a Coalition, in the event of another hung parliament.

per annum, based on data sourced via the Nationwide House Price Index. A glance at the total increase shows that home prices appreciated the most under Tony Blair’s tenure, up 211.3%, followed by that of Margaret Thatcher, with prices increasing by 187.9% during her time at No.10.

Property Market

Conservatives The Conservative party has vowed to develop 100,000 starter homes which would be offered to first-time buyers under the age of 40 at a discount of 20%.

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While more residential properties are needed to help solve the mounting housing crisis in this country, various experts believe that the Tory proposal for house building does not go far enough. Brian Berry, Chief Executive of the Federation of Master Builders (FMB), commented: “The Prime Minster has quite rightly placed housing on an equal footing with health and education, but 100,000 new homes is still too few when we need to be building 240,000 new homes every year.” Under a Conservative government, housing benefit would be scrapped for 18- to 21-year-olds, which will have a knock-on effect for landlords who accept DDS tenants. However, the policy is a climbdown from previous plans to exclude people under 25 from claiming housing benefit, which was blocked by the Liberal Democrats. The party also want to introduce a rentto-buy fund enabling young people to rent homes at discount rates and have the first option on buying the property under the initiative, in yet another effort to help more people gain a first foot of the housing ladder. Labour The Labour leader Ed Miliband also wants to help increase the volume of first-time purchasers by boosting house building rates to 200,000 a year by 2020. Stewart Baseley of the Home Builders Federation has welcomed the commitment by Labour to increase housing supply. “Whilst we have seen a big increase in house building activity in recent months,

we are still not delivering enough homes to meet the country’s needs,” he said. Labour would also give local authorities greater power to stop buy-to-let investors purchasing new homes or allowing them to be left empty. While it is completely understandable that Labour want to prioritise first-time buyers by handing local authorities the power to restrict both buy-to-let, and buy to leave sales of their pledged 200,000 new homes by 2020, the implications of this policy concern Richard Lambert, CEO at the National Landlords Association. He said:

“Without imposing new covenants or planning restrictions, which would risk scaring off investors, homeowners and lenders alike, it remains unclear how they could achieve this goal,” Labour’s flagship housing policy is for the introduction of an annual Mansion Tax for owners of £2 million-plus properties, many of which are located in London and the South East. “The introduction of a mansion tax would disproportionately penalise homeowners in London and the South East who are already responsible for the vast majority of property tax take in the UK,” said Lawrence Hall of Zoopla. If the Mansion Tax is introduced, Rightmove Director, Miles Shipside, believes that those sellers who have had their homes valued at over £2 million will need to lower their expectations on the deal they will be able to secure, in the same way stamp duty bands affect asking prices.

THE PROPERTY AGENDA Three parties, three plans for the property market. While the Conservatives’ have the longest list, labour refines their opinion on Mansion tax, but the proposal is still much alive at the Lib Dems office.

Property Market

CONSERVATIVES

LABOUR

LIBERAL DEMOCRATS

New Builds

100,000 NEW HOMES

200,000 NEW HOMES

300,000 NEW HOMES

First Time Buyers

20%

50%

None

First-time-buyers under 40 get exempt from a range of taxes on new-builds which could be equal to a 20%.

Half of the new homes built would be reserved for local first-timebuyers who have lived in the area for over two years.

So far it seems that the Liberal Democrats have yet to announce a policy that equals those of Labour or the Conservatives to help first time buyers get on the ladder.

18-21

18-25

Housing benefits for 18 to 21 years olds will be cut which will effect landlords who accept DDS tenants.

Housing benefits for 18 to 21 years olds will be cut if they refuse a working opportunity.

None

The conservatives are strongly opposed to Mansion Tax with Mr Cameron flaty rejecting such a “wealth tax”.

Annual mansion tax taxable to the owner, equal to 1% of the their property’s value.

Mansion Tax

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Housing Benefit

Property Market

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While welcoming the Lib Dem’s house building target, the FMB’s Brian Berry said that it was rather “ambitious”, suggesting that it is unrealistic. He said:

“The last time we built over 200,000 new homes was in 1988,” The Lib Dems may also scrap the Help to Buy scheme and potentially replace it with a new Help to Build initiative. Election run-up (and beyond) The general election will have an enormous impact on the housing market over the next few months, especially in London, with a

OR 95,000

38%

properties over £2.0m are in London

The Liberal Democrats has also vowed to significantly increase the supply of new homes if elected at next year’s general election by delivering 300,000 new homes per year, supported by a ‘radical approach’ to house building and the construction of various garden cities.

14 % %

88%

While the threat of a mansion tax remains a deterrent to buy property at the top end of the market, the ricochet effect would almost certainly affect the lower end of the market. Liberal Democrats The Lib Dems have championed the idea of a Mansion Tax for years - initially it was a 1% tax on residential properties worth over £2 million – but now it is in the form of adding higher council tax bands.

WHO WILL PAY MANSION TAX?

12%

He commented: “It [Mansion Tax] isn’t something that is going to help boost home ownership, and other policies that could be considered are scrapping stamp duty for first-time buyers, and far more widereaching commitments to build a lot more houses.”

36,000

34,000

11,000

13,000

appartments / flats

terraced houses

semidetached houses

detached houses

degree of buyer uncertainty already starting to appear in the run-up to next year’s voting, which, along with concerns regarding a potential interest rate rise and warnings of a house price bubble, has contributed to the recent slowdown in the housing market. One only needs to look at the impact that the Scottish independence referendum had on the housing market north of the border to see the degree of uncertainty that politics can generate in the property market.

Approximate numbers. Data from cityam.com

However, growth should get back on track after the election, with home prices in London, at an average of 33%, set to outstrip the 30% growth estimated across England and Wales over the next five years, according to a new projection made by Rightmove and Oxford Economics. While the uncertainty of next May’s general election may dampen demand to some degree in the sales market, the rentals market will almost certainly flourish, with rents expected to rise across many parts of the capital, on the back of higher demand from people looking to rent.

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NEWS & INTERESTS

BRIKOLAGE CIRCUIT SCRIBE GADGETS Many books and films haven given predicting the future of technology a crack, often resulting in ‘state of the art’ very complicated technology, only to fulfil what were really quite easy tasks already. However the current velocity in business/ technology is much more exciting; it’s all about simplifying.

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The Circuit Scribe is such a thing, with the power to get you excited about natural sciences again, by simplifying the process of making electric circuits, simply by drawing the circuit with a pen. It’s not only making the process easy for professionals but also lowers the barrier for amateurs to show interest. Everyone will start making circuits, for the fun of it. True, an estate agency doesn’t need to, but it doesn’t stop us wanting to!

NUT CRACKER COVER Happiness, they say, is a state of mind. With the recent price hikes, as a property owner it’s all too easy to tie your mental well-being to the increase in your capital. In much the same way as a trader religiously checks the markets every morning, us Londoners have become obsessed with the values of our property. It’s the talk of the town, the papers and, well, this magazine. However we’ve always felt that Christmas can be the antidote to this routine, connecting us

more with our families and friends and in essence what is really important. Though essentially a nutcracker hasn’t got anything to do with the Holidays, the typical soldier nutcracker is often associated with Christmas due to the classic Christmasballet by E.T.A. Hoffman, in which a young girl dreams of the nutcracker she got for Christmas. Perhaps we could all benefit from allowing ourselves to dream more often about something other than the next 20% price increase in our bricks and mortar? Just a thought.

NEWS & INTERESTS

THE ART OF BRICK EXHIBITION

If you’re looking to re-live your youth or just wanting to experience what’s possible with Lego, here’s the best of both. At first glance the exhibition feels like you’ve landed in a world created for children, but as you carry on you realise it’s actually a collection of beautiful pieces of art. New York based artist Nathan Sawaya limited

ART Shoreditch: eat your heart out! With the recently finished Beard and Moustache Championships now over, most Londoner’s beards now aren’t worth a passing glance, let alone a mention. But now that it’s all over and Movember is in full swing, perhaps it’s time to give these jolly good fellows a run for their money and show the world that only the true gentleman lives in London, well maybe Shoreditch at least. Find inspiration on growing the perfect whiskers at: worldbeardchampionships.com. Images © Craig Mitchelldyer/AP.

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JUST FOR MEN CHAMPIONSHIP

himself with very strict rules in his inspiring sculptures by only using ‘rectangular pieces’ and there’s no room for angles. This way, Sawaya shows pure craft, building something complex from mutilple units of something so simple. Definitely worth a visit. Find it in the Old Truman Brewery until early next year. Bring the kids!

INTERIOR & DESIGN

aRTIST’S HOME

INTERIOR & DESIGN

Extending into the basement and garden comes in many shapes and forms, but more often you see the ‘good olde’ kitchenopening-out-onto-garden arrangement. Not so for Giles Pike Architects and Magenta Pink Interiors, who made a statement and went in the other direction. Instead they built a two-story glass box creating a ‘gardenview’ from the kitchen and reception room on the raised ground floor above, with easy access from the entertainment space on the lower ground floor into the garden. The

Modern, antiques and mid-century pieces combined with bold colours throughout give this 1870s house a warm feel, while giving the two spaces unique characters.

creativity in this extension is that you get a vast amount of light without having to settle for lack of privacy, retaining a secluded home like feel morphed with a modern contemporary gallery like space. Couple this with a twist in direction across the lowerground floor, with a more informal vintage aspect to partner with the use of the space as a place to relax and you get a little more out of your standard Victorian extension. magentapinkinteriors.co.uk

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MORTGAGE MARKET

Sub 3%! You may have noticed that mortgage rates, especially five year fixed, have fallen again. This clearly is rather embarrassing, as I (and to be fair, the rest of my industry) have been telling you that rates are on the up and you need to remortgage now to lock in them in. So what has happened?

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Rumours had persisted that the Bank of England were going to increase the base rate at the start of next year, and this seemed to fit with much of the economic data coming out of the UK PLC; therefore you would think that mortgage rates going up would be the obvious outcome. However we have not factored in the important commercial factor, the fact that the majority of lenders have not hit their lending targets for this year, especially the bigger High Street banks. And the primary reason for this is the Mortgage Market Review (MMR). You may remember me talking about this in the Spring, and wondering what the impact would be. Lending is certainly tighter than it was, with lenders asking more questions and reducing the level of borrowing to clients. Happily most banks and building societies seem to have grasped how MMR needs to be applied and although borrowing has dropped the market is still reasonably buoyant. Whether this carries on next year I am not so sure – there are a lot of

Words

Alistair Hargreaves John Charcol

uncertainties around 2015, the biggest of which is the election. When MMR came into play, at the end of April most lenders would prefer not to take on business that was on the edge of their criteria and affordability, and cases that they would have allowed pre-MMR were now being declined. This carried on for about three months, meaning that for many banks they now have a whole chunk of their lenidng target missing . Added to this is the fact that there is still a lot of cheap cash floating around in the system, generated either by low savings rates or left over from Funding for Lending (FFL). FFL was a Government scheme that ran in 2013 and was effectively a state subsidy, pumping money into the mortgage industry at low rates.

“Therefore we have a combination of missed lenidng targets and cheap money burning a hole in lenders’ balance sheets, which equals a range of excellent low rates.” At the moment you can get a five year fixed below 3%, if your loan to value is below 75% which is remarkable, and they will remain low until either the money runs out or the targets are achieved. As you can imagine the resurgence of sub 3% five year fixed deals has caused quite a stir with clients clamouring to get on board. So if

MORTGAGE MARKET

SUPPLY AVAILABLE MONEY

COST OF BOROWING RATES

DEMAND MORTGAGE APPLICATIONS

£ CHEAP! 2013

1 A high supply of cash supported by the government FFL scheme kept rates low, and applications high.

2 2014:Q4 EXPECTED

£ REALLY CHEAP! (WHILE STOCKS LAST) 2014:Q4 REALITY

you missed the boat last time, and you plan on staying in your home for the medium to long term you need to act now, as when these deals go we are very unlikely to see anymore deals as good as these for a long time... if ever. And if you require shorter term products there are even mortgages out there for under 1.5% on a two year basis – again, remarkable rates. Personally I think that these rates will be here until the end November, as lenders are pricing in this way to attract remortgage business that will complete by the end of the year and to build up their pipeline for 2015, therefore I reckon that we have

3 The reality: Because of the MMR lenders haven’t been able to lend quick enough to hit their lending targets, plus rates haven’t increased. Resulting in the semi- equivalent of a ‘last minute sale’.

another two to three weeks to go before they are withdrawn. So if you are on a variable rate of 2% or more, maybe even 1.5%, then you should seriously consider moving your mortgage. Who knows what state the economy will be in five years from now – but if you have managed to protect your mortgage costs as everything else increases (apart from salaries) it will be so much easier to plan your monthly budget. If you wish to discuss your situation or you need help understanding your budget for the new available borrowing drop me a line on 020 7933 9651 or talk to Brik who will put you in touch.

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The Lemonade stall AN IMMEDIATE HISTORY OF LENDiNG Let’s compare mortgages with lemonade. With a high supply of available lending supported by the government FFL scheme the mortgage market was on full throttle. This was expected to end as the lending ran out and rates increased. However the MMR has meant that banks still have plenty to lend and rates haven’t increased as expected.

Rumours The Bank of England were going to increase the base rate led to an anticipation that the cost of lending would increase and that by now the allocated money would have run out.

£ EXPENSIVE

INTERIOR & DESIGN

SALVAGING THE ‘INDUSTRIAL LOOK’ Industrial style interiors are not a new concept. Disused factory spaces have been converted into trendy warehouse style apartments, especially in New York, London and Manchester, for a very long time indeed. But we’ve seen an increasing demand for this interior trend in the last three years, spawn from our modern day ethos to reuse and upcycle. 18 brik.co.uk

The industrial trend allows you to strip back your interior to the bare bones and use what’s already there - a more conservative approach to using the fabric of the building. It’s about showcasing and celebrating the raw elements like exposed wires, beams and bulbs and raw, unfinished surfaces. Muted grey tones are used from mineral white to dark slate, with accents of unfinished materials like concrete, aluminium and metal.

“It’s about showcasing and celebrating the raw elements” We’re salvaging the industrial look for 2015, but it goes slightly more upmarket. The addition of innovation and technology gives it a more refined aesthetic. Industrial style pieces still use the raw materials but the manufacturing process means they are more ‘luxe’ than ‘low-spec’. Lowinfo has perfectly crafted concrete into their series of Kast basins and worktops.

They’ve taken the tactile qualities inherent to concrete and used contemporary forms to create beautiful pieces like their Fox basin. Another personal favourite is Abate Zanetti’s Caen Lighting Hooks, resembling chain links. Set against dark grey tones and used in repetition, the Caen hooks are a more decadent tribute to the industrial look. Concrete flooring has developed so much that you could mistake it for wooden floorboards. Concreate Flooring has a superb range – the concrete has been poured, pressed and left to cure before being kilned. It is a striking, individual effect with ultra-durable qualities.

7 Steps to the Industrial Look: 1. Strip the plaster off all or one wall and leave the brick exposed. Easy. 2. Keep furniture and accessories minimalistic and sparse. 3. Install black aluminium window frames. 4. Use concrete flooring. They now come in an incredible choice of colours and finishes. 5. Offset the raw walls and floors with feature items made of metal. Try polished metal worktops, stainless steel shelving or copper light fittings. 6. Use reclaimed tiles to make a feature wall or splash back. Smink Things do an incredible reclaimed tile-look wallpaper called After Lowry. 7. To avoid the scheme becoming too grey, use rose and orange tones to complement and accent this look.

Words

Rowena Vaughan RVJ Designs

Luxe rather than ‘low-spec’ will give your interior the best of both worlds.

INTERIOR & DESIGN

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KNOW MORE

Do I need a survey? ...or is it a waste of money? Last year the Royal Institution of Chartered Surveyors (RICS) commissioned a survey of recent property purchasers.

94% of respondents agreed on the importance of having a survey (even though around one third had failed to do so!). Of those who did have a survey, 73% said it provided them with peace of mind and of those who did not have a survey before buying, 20% found faults in their new home and 17% paid over £12,000 on remedial works.

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“Skimping on home surveys is a false economy!” Different homes require different types of survey. The most popular survey reports are the RICS HomeBuyer Report and a Building Survey. The RICS HomeBuyer Report is set out in a prescribed format and is a licensed product promoted by RICS. This report is in a standard format designed by the RICS using a “traffic light” system to grade each component of the property.

• Red means urgent repairs or significant matters requiring further investigation. • Amber means non-urgent attention may be required soon. •G reen means no action needed other than normal maintenance.

WORDS

Fraser Maldoom Capital Chartered

The HomeBuyer Survey aims to show the condition of the property, offer guidance to legal advisors, highlight any urgent defects and provide valuation advice. Typically the lower priced of the two surveys, whilst most suitable for standard modern purpose built flats, it can be used for newer homes and some other conventional property. A Building Survey Report (this used to be known as a Full Structural Survey) is the more in-depth pre-purchase report, suitable for all property types and the only report we would recommend for old, large or more complex property. This provides detailed comment on structural condition and can be tailored to address your special concerns. It points out urgent repairs required and may recommend further investigation, with the most significant matters highlighted in a summary. This is principally a comprehensive report on condition and repair. Valuation advice is not automatically included within a building survey but may be provided (for an additional charge) if required. If you are in any doubt as to which survey to obtain please call Capital Chartered Surveyors (020 8875 0035) and we will be happy to advise.

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bulthaup Mayfair 37 Wigmore Street London W1U 1PP T +44 (0)20 7495 3663 F +44 (0)20 7495 0139 www.bulthaup-mayfair.co.uk

INTERIOR & DESIGN

PRETTY LITTLE THINGS

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INTERIOR & DESIGN

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HOTEL

The Waterhouse at South Bund DESTINATION

Shanghai, China ORIGINAL

Loh Lik Peng

24 brik.co.uk At Design Hotelsâ&#x201E;˘ we believe in the power of creative expression. Thatâ&#x20AC;&#x2122;s why each of our 270-plus handpicked independent hotels reflects the idea of a visionary hotelier. With his Shanghai property, The Waterhouse at South Bund, Loh Lik Peng not only offers genuine hospitality, he embraces thoughtprovoking design and a cultural vitality that is changing the very concept of the boutique hotel in China. Embrace the authentic. Express yourself. designhotels.com

BUYER’S GUIDe

INVESTMENT ‘A DIRTY WORD?’ WORDS

Josh Woodfin Journalist

Whether you’re buying your first home, upgrading to a family sized property, or downgrading after the kids have left in order to free up some capital and maybe take that trip you’ve been planning, there really is no shame in wanting your property to appreciate in value.

improvement you make will only add to the pot should you find your self wanting to move again or relocate out of London. After covering Wimbledon, Wandsworth, Fulham, Peckham and Hackney in the last issue of Brik, here are more intriguing locations in the capital to consider.

Dalston / Kingsland £300k - £1.2m

One family from Ealing, for example, bought a house in 2009 for £455,000, then spent £90,000 converting the loft and extending the kitchen, then sold within two days of being on the market in 2013, for £725,000. Which is a decent return by anyone’s calculation. This is a trend that isn’t going to go away any time soon, with prices tipped to rise by 35% by 2020, where are the best places to invest your money in London? Where you can you build a life and make home, while knowing all the time that every

If you can ignore the stigmatism around hipsters, Dalston and the surrounding areas directly off Kingsland road leading up towards Stoke Newington in North East London are really excellent places to consider buying. The influx of bright young things to the area is largely confined to the pubs, clubs and bars of Kingsland road, but wonder off the strip and you’ll soon find yourself in a world of leafy tree lined streets and vast Victorian townhouses. A one bed flat on the rather beautiful Amhurst road will set you back something in the region of £300,000 upwards for a property with a blank canvas, modern finish. And you’ll be looking at around the £1.2 million mark for a large (four bed +) semi-detached on Malvern road, which is equidistant between Kingsland Road, London Fields, and Haggerston station, which means you’re incredibly well serviced by the Overground service, and could walk

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For some people, especially those who have bought in London, discussing how much capital they have made on a property is a favourite topic of conversation, and why not. A recent report from Halifax and Nationwide put annual house price inflation at 8.7 per cent and 9.5 per cent, while a recent article from the Guardian featured buyers discussing their property windfalls.

BUYER’S GUIDe

to Liverpool Street station in 10-15 minutes. For those with the patience and time, you would likely pick up a comparatively cheap property that’s in need of a bit of TLC if you venture closer to Hackney Central. But in short, the transient nature of the young community in the area means that at the moment there are plenty of properties available, but they will start to go soon.

Location wise, you can walk to the city, and Aldgate East and Whitechapel are on the District and Hammersmith and City Tube lines. But most intriguingly, Whitechapel will be on the Crossrail, which will further ensure your investment pays dividends.

Streatham £370k - £800k

Whitechapel £540k - £1.2m

Not just the home of tourists on Jack the Ripper tours, bustling street markets, cutting edge galleries (including the excellent, if unimaginatively named Whitechapel Gallery), and top artists (Tracy Emin, Dinos Chapman and Gilbert and George all have studios in the area), Whitechapel is now one of the most exciting and appealing places to buy a home in the capital.

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“It is crowded, and chaotic, but in that brilliant and vibrant way that London can be.” So it definitely won’t be to everyone’s tastes. But for those wanting to make a home in the heart of the action, there is a wonderful selection of properties available: beautiful early 17th-century terrace houses run off of quiet early Victorian Squares, while warehouse conversions sit next to new flats. This range of properties is reflected in the price, where those with the cash can buy a 3-bed new build penthouse close to Aldgate East tube station for £1,360 a square foot, while those with a more modest budget can get a rock-solid, and generously appointed ‘right-to-buy’ flat in the one of the large 1950s social housing complexes.

If Whitechapel and Dalston seem a little too bustling and urban for your tastes, then Streatham could be the location you’ve been looking for. It’s an area that’s brimming with potential, and boasts a die hard fan base who will not only boast about how nice a place it is to call home, but are actively trying to improve it all the time. When you arrive, you’ll likely find yourself on the A23, a bustling artery that cuts through the area and is known for its congestion. But please don’t let that put you off, because stroll down any side street and you’ll find yourself on quiet terraced streets with a range of properties, many of which feature that rarest of gems in London – decent outdoor space. Most interestingly, last year residents carried out a successful campaign to persuade Lambeth council to grant the roads south of Streatham Common a conservation area status, because of the areas interesting and beautiful mixture of Edwardian Arts and Crafts houses and 1920s terraces. Streatham is penned in by green spaces, too, with Streatham Common sitting at the southern tip, while Tooting Bec common sits at the western edge, which, to use estate agent speak ‘boasts’ Tooting Lido, the biggest and most popular swimming pool in the UK.

BUYER’S GUIDe

DALSTON / KINGSLAND The influx of young people came with trendy pubs and shops, but it also has the tree-lined streets.

HACKNEY

£300k £1.2m

PRICES

WHITECHAPEL In close tange to the city, Whitechapel will give you that busy urban-life feeling.

TRANSPORT URBAN FAMILIES

PRICES

GREEN

TRANSPORT URBAN FAMILIES GREEN

£540k - £1.2m

THE CITY

£380k - £740k

ELEPHANT & CASTLE

27 GREENWICH

PRICES TRANSPORT URBAN CLAPHAM

FAMILIES

LEWISHAM

GREEN

STREATHAM With properties having loads of outdoor space, Streatham could be the retreat from the city. £370k - £800k

PRICES TRANSPORT URBAN FAMILIES

WHERE TO BUY What’s right for you? Every area has its pros and cons but one person’s pros are another person’s cons, and vice versa.

GREEN POOR

GOOD

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Being in zone 1, and having an uber development on the cards, E&C could be the next NYC.

BUYER’S GUIDe

Some of the best houses can be found on Garrad’s Road, overlooking Tooting Bec Common, and the roads off it, Woodbourne and Becmead avenues and Abbotswood, while up and coming areas include the ‘ABC roads’, Amesbury, Barcombe and Cricklade avenues off Streatham Hill.

end apartments in complexes such as the Printworks on Amelia Street, some of which will enjoy views of Parliament. All of which means that prices are rising in Elephant and Castle, but it’s still easily the cheapest location in Zone 1, with the average property prices floating around the £500,000 mark.

Average house prices in the area range from around £370,000 for a flat, going up to around £800,000 for a large house, and there’s a 62% bias towards flats in the area, meaning houses, while not thin on the ground, are definitely in a more competitive market.

Elephant and Castle £380k - £740k

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Most Londoners have long been under the impression that Elephant and Castle is nothing more than a big roundabout with a shopping center attached to it that, something to pass through when travelling on the Northern Line. But a huge new regeneration scheme, which is expected to be completed by 2020, will turn this often overlooked area in to one of the most exciting and appealing areas in London.

“By 2020, Elephant and Castle will be one of the most exciting and appealing areas in London.” The scheme includes more than 4,000 new homes, a market square, and a vast park built on site of the sprawling, notorious Heygate Estate. The scheme also includes the development of many of the roads in the area that will ease congestion significantly. There is a huge range of properties from apartments in new build towers, and higher

The nature of the area means that the properties are almost exclusively flats, and finding a garden would be a small miracle, so it’s not really the place for anyone looking to start a family. But for first time buyers or couples, it’s an exciting and vibrant location with great connections. Don’t be put off by the still tatty nature of the area. The main strip on Walworth road might not be the most appealing of places, but make no mistake, Elephant and Castle is undergoing one of the most exciting makeovers in the capital. The potential for investment is huge. Watch this space. *All data from Zoopla and the Land Registry

‘Elephant Park’ will be luxury flats just a few hundred meters away from Elephant & Castle station.

BUYERâ&#x20AC;&#x2122;S GUIDe

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West End Fulham Islington Notting Hill Richmond Cheltenham Guildford

020 7297 6220 020 7736 7362 020 7704 8260 020 7229 2123 020 8744 9993 01242 521 900 01483 573 584

Made in Britain, Built to Last

www.roundhousedesign.com

DESIGNER

AWARDS

British Design

2013 WINNER KITCHEN DESIGNER OF THE YEAR

INVESTMENT GUIDE

Tomorrow’s Transport, today

BARNET

CAMDEN

15 mins

Ealing Broadway

-16 mins Reading

Hanwell

20 mins

-19 mins West Drayton

9 mins

-22 mins

Southall

West Ealing

Acton

Hayes & Harlington

26 mins

Heathrow Airport

-20 mins

HOUNSLOW

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So you’re thinking about investing in property? Or perhaps you already hold a portfolio and are looking for the next buy. Whichever category you fall into, you obviously will be asking yourself that allimportant question: where is the next hot spot? Which up and coming area is going to give you the greatest return on your investment? Where can you buy that will ensure the arrow on the graph is only pointing up. There are of course a lot of factors, from schools, to the type of

property, but in London, it’s hard to deny that transport is one of, if not the, leading factor when it comes to where people want to live. London has a slew of huge transport projects on the horizon, but easily the biggest and most public is the Crossrail development. A huge undertaking, this train line will bisect the capital cutting some journey times by up to 40-minutes and increase capacity on London’s transport network by up to 10%, a figure that will certainly appeal to anyone who’s spent their morning or evening commute in close proximity to a strangers armpit. Another subsidiary benefit to

the project will be an increase in house prices for those who own properties along the path of the Crossrail. In a report for Property Week, American commercial property company, CBRE says: ‘We anticipate total house price growth of 13% around Crossrail stations between now and 2018, with up to 20% in Central London. This is expected in addition to underlying capital growth.’ The report also states: ‘Overall, Crossrail could add around £14.7bn to the residential property sector across the 37 stations.’ Big numbers that only bolster the importance of buying a property with excellent transport links. But the very public nature of

Paddington

Ilford Forest Gate Stratford

Tottenham Court Road

Manor Park 24 mins

-11 mins Maryland

10 mins

4 mins

BOND STREET

Shenfield

-16 mins

-12 mins

Farringdon

Whitechapel

17 mins

-10 mins

Costum House

Liverpool Street Canary Wharf

22 mins

-20 mins

SOUTHWARK

Abbey Wood

13 mins

Woolwich

-11 mins GREENWICH

The crossrail project will have a dramatic effect on property values. Short commute times equals more demand for property in that area. Ergo better transport, higher values.

Property values increase mins

Minutes to bond street

“Crossrail could add around £14.7bn to the residential property sector across the 37 stations.” In July, Mayor Boris Johnson outlined an ambitious plan to improve the capitals transport system called the ‘London Infrastructure Plan 2050’,

the bill for which would hover around the fairly unimaginable £1.3trillion. To be fair the plan also includes housing, energy, digital connectivity and schools, but a large proportion of the proposals include transport projects. Crossrails 2 and 3 are two of the most likely projects to get the nod. These monster projects will cut across the city from North to South, reducing peak morning capacity by up to 8%. Crossrail 1 could also be extended to Watford Junction. One of the most interesting proposals is the development of Old Oak Common in West London, near Acton. The report describes

how this area could become a ‘Canary Wharf of the future’ and host an Overground, Crossrail and HS2 station. Average house prices in the area currently sit at around £550,000. Extensions of on the Bakerloo line and Overground line could rejuvenate the South East London from Old Kent Road to Catford, and Gospel Oak. There are new stations mooted for Cricklewood, beam Park and Thames Wharf. Exciting times indeed, especially when there’s even talk of air conditioning on the tube. We can certainly dream!

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Crossrail also means that the cheap property ship may well have sailed, or at least it has become the preserve of the very wealthy. So what other projects does London have up her sleeve, and where should you be looking to invest?

Seller’s GUIDe

Break Glass In CASE OF AN Emergency If you have a property on the market and you’re struggling to sell it, fear not, there are myriad reasons why this might be the case, from seasonal market fluctuations, to simple coincidences, and there are many simple tricks and tips to employ to make sure your property doesn’t stall your future plans.

The national average for house sales across the country is six weeks, with that average dropping to just a month in Greater London where all aspects of the property market are exaggerated. But sometimes properties can take much longer to be sold.

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Aside from the obvious tricks of making your house look as appealing as possible for any viewings, and ensuring that it is valued at a fair price for the quality and area (get multiple valuations from different agents and make sure you investigate what other similar properties in the area are selling for), it’s important to consider what time of year you’re trying to sell. It’s not surprising that the market slows down in the winter in the lead up to Christmas and into the New Year, as well as in the school holidays and through high summer. Autumn and spring are easily the most popular times to sell, so try and align your

plans to these periods. However, sometimes life gets in the way and the best-laid plans fall to pieces. So if you’re looking to make a quick sale, firstly it might be worth considering some home improvements beyond the usual de-cluttering. If you have the time and the money, get some decorators in and turn your home into a blank canvas. Bright neutral colours will help any prospective buyers imagine what the property will look like when they’ve made their own mark on it. Shampoo the carpets and have the property deep cleaned. No doubt you live in an incredibly clean property, but put yourself in a buyers shoes, because they will be trying to see into the future and imagine what the home will look like when it’s belongs to them.

“The other thing to consider – and this is the really hard one – is if you’re really struggling to sell your property it’s likely the price you’ll have to drop.” If you’ve priced your property too aggressively, this will become clear quickly and you will be able to act on it, but if you’re sitting in the middle of the market, it will be much harder to accept. But the important thing to remember

The market cools for your property in the winter months and especially if the price you’ve set is too high.

is that this will help your chances of making a sale significantly. The nature of the market in London is so competitive that it is unlikely that you will find yourself with a property on your hands for very long. Demand is very much outstripping supply. There are hundreds of companies that offer to buy your house or sell to a third party buyer in a matter of weeks, but there are also plenty of horror stories floating around, with people forgoing 10 to 25 pc of the properties original market value, and in some rare cases, sellers have lost more than 50pc. There are of course exceptions, and plenty of reputable firms are out there. But the reality is that it is a tempting, but relatively un monitored field. The Property Ombudsman, Christopher Hamer, told the Telegraph last year that it is an area in need of legislation. “Consumers using quick housesale firms have no access to independent redress and the risks associated with this are significant. While I note that the OFT is pursuing a self-regulatory approach, the only way of realistically ensuring all such firms provide consistent service is through legislation.”

MARYLEBONE TOTE •

ASPINALOFLONDON.COM •

0845 052 6900

Seller’s GUIDe

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INTERIOR & DESIGN

Consoles

COMPILED BY

Kate Thornton Magenta Pink Interiors

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Lantau

TMetro

Everest Console

£945 | okadirect.com

£363 | madeindesign.co.uk

£2,395 | andrewmartin.co.uk

Effortlessly elegant and opulent this console features a seal grey faux shagreen top with a gilded frame.

A natural wood clean lined console with black painted metal legs. A simple piece to add elegance to any hallway.

A unique stack motif console made from varying layers of antique brass, zinc, bronze and copper

China Club

Fonteyn

Python Embossed

£495 | indiajane.co.uk

£369 | Made.com

£9,744 | juliettesinteriors.co.uk

Drawing inspiration from antique Chinese furniture this black lacquered console would fit into any contemporary interior as an exotic feature.

Bold curves, angled legs and contrasting colours in thick oak and walnut make this an eye catching addition to any home, in different shades of wood or bright colours.

Console with four drawers each with a solid brass snake pull and different drawer front including metallic reptile linen and bronze leather.

Swirl Console

The Temptation

Mogg Bugie

£1890 | tomeschneider.co.uk

£4560 | bykoket.com

££1990 | gomodern.com

The aesthetic curves of the swirl collection from Tom Schneider show off the natural beauty of the wood. Available in several wood choices.

Wrapped in a bronze metallic python skin adorned with bronze crystal, this console from Koket explodes with exoticism and verve with stunning gold curves around a four drawer top.

This is a fabualous quirky console with candle holders on the top that appear to be an extension of the legs but are held on with magnets and can be individually moved.

Fleur de fer

Sculptural

Cortes

from £2,550 | roche-bobois.com

£11,025 | Taylorllorentefurniture.com

£1,690 | julianchichester.com

Limited edition of 500 pieces from Maurice Balone with steel legs and a wrought iron and veneer finish. It comes in several colours from patina to rust.

A contemporary console hand worked in a nickel finished steel with a black granite top. It also comes in gold leaf, pewter and black wax.

A beautifully stylish 1950s Danish style console. The top is wrapped in variegated brown vellum with gilded steel legs. There are four sycamore lined drawers.

INTERIOR & DESIGN

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Fernhurst Road

A superbly renovated family home with a deep garden (extending to almost 50 ft) in one of Fulhamâ&#x20AC;&#x2122;s most sought-after residential roads.

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Approaching 3,000 sq ft, the house is arranged over four floors, providing flexible entertaining areas alongside 5 double bedrooms and 3 stunning family bathrooms all of which provide the very best in luxurious, modern family living.

2,911

ÂŁ2,895,000

BEDS

sq ft

For sale

LALOR STREET An outstanding and fully extended Victorian family home, finished to the highest specification with discerning taste.

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Arranged over five floors and extending to 2,734 sq ft (254 sq m), both the bedrooms and living spaces have been carefully configured to maximise the available space.

2,734

ÂŁ2,750,000

BEDS

sq ft

for sale

HURLINGHAM road An outstanding and newly refurbished garden flat, arranged over the ground, and lower ground floors of a traditional Victorian terraced house with direct views over Hurlingham Park. The ground floor features a superb double reception room, a shower room and a 20â&#x20AC;&#x2122; extended and bespoke kitchen/ family room with bi-folding doors leading out onto a private rear garden.

2/3

1,367

ÂŁ1,950,000

BEDS

sq ft

for sale

GOWAN AVENUE An outstanding and fully extended Victorian family home, finished to the highest specification and located in the â&#x20AC;&#x2DC;Munster Villageâ&#x20AC;&#x2122; area of Fulham.

Arranged over four floors and extending to just under 3,000 sq ft (271 sq m), both the bedrooms and living spaces have been well implemented and balanced very well.

2,917

£2,895,000

BEDS

sq ft

for sale

COMPASS HOUSE A stylish and modern Manhattan style apartment in the desirable Chelsea Creek development, in an excellent location close to the Thames riverside and on the borders of Chelsea. Situated on the second floor of this new building, the living space is configured as a spacious open plan kitchen and reception room, with large doors leading off to a separate bedroom space.

452

ÂŁ525,000

BED

sq ft

UNDER OFFER

HAZLEBURY road A stylish, extended four bedroom Victorian family home, arranged over four floors and in excess of 1,750 sq ft. The property has impressive entertaining space with a double reception room on the ground floor, a study at the rear modern extended kitchen breakfast room on lower ground level. It also benefits from a useful utility area, separate W.C and larder.

1,755

ÂŁ1,750,000

BEDS

sq ft

FOR sale

CAMPANA ROAD An outstanding, extended Victorian family home, in one of Parsons Greenâ&#x20AC;&#x2122;s most sought after streets. The house has been fully renovated to the highest specification throughout and extends to just under 1,750 sq ft (162 sq m). Arranged over three floors the property features four double bedrooms, all of which are en-suite, as well as an impressive entertaining space.

1,741

ÂŁ1,950,000

BEDS

sq ft

UNDER OFFER

DANEHURST STREET A superb two double bedroom flat, situated on a very popular road in the Munster Village area of Fulham. The property makes up the first and second floor of a pretty Victorian building. On the first floor thereâ&#x20AC;&#x2122;s a bright and spacious living room with an original and working Victorian fireplace, sash windows and exposed wooden flooring.

1,022

ÂŁ850,000

BEDS

sq ft

for sale

BISHOPâ&#x20AC;&#x2122;s ROAD A stunning and newly refurbished Victorian family home, extending to in excess of 1550 sq ft with a layout that has been thoughtfully configured to maximise the available space. The ground floor has an excellent entertaining space, with a formal double reception room, a space for a dining area and an eat-in kitchen with sliding doors that lead out on to a private patio garden.

1,556

ÂŁ1,695,000

BEDS

sq ft

for sale

DANEHURST STREET A well finished four bedroom Victorian family home extended into the side return and loft to provide almost 2000 sq ft of living space over four floors, including a double width cellar with sauna and utility room. The open-plan kitchen connects to the double reception room and 30â&#x20AC;&#x2122; South facing garden and is very well specified, with a full length skylight giving a modern feel and plenty of natural light.

1,959

ÂŁ1,795,000

BEDS

sq ft

for sale

PARSONS GREEN LANE An outstanding four storey Victorian family home, built on an unusually wide plot, moments from Parsons Green. This large house has excellent entertaining space with an unique ‘L’ shaped entrance hall, formal dining room and large reception room on the ground floor, with double doors leading out onto a very private, beautifully maintained garden.

2,613

£2,600,000

BEDS

sq ft

FOR SALE

HESTERCOMBE AVENUE A stylish, extended two double bedroom ground floor flat with its own private garden. Located in the popular ‘Munster Village’ and only a short walk from the Fulham Road. This larger than average garden flat extends to in excess of 1,170 sq ft. It has two good sized double bedrooms (both with built in wardrobes) and two modern bathrooms (one en suite).

1,173

£1,095,000

BEDS

sq ft

FOR SALE

WARDO AVENUE

A beautiful and bright four bedroom family home on one of the most popular roads in ‘Munster Village’. As you enter the property there is a sizeable reception area with space for a large dining table with wooden flooring that leads through to a larger than average kitchen with ample space for a breakfast table and a large amount of storage (including a pantry).

1,647

£975/wk

BEDS

sq ft

TO LET

MUNSTER ROAD A newly refurbished two bedroom flat finished to a high specification on the first floor of a terraced house on Munster Road. This property has a good sized reception room which leads on to a fully fitted separate kitchen (with built in storage), two spacious double bedrooms and a brand new family bathroom.

613

ÂŁ445/wk

BEDS

sq ft

LET

ANSELM ROAD A beautifully finished split level, two bedroom apartment that feels more like a house than a flat. This property is located on the first and second floors of a period conversion. On the first floor of the flat is a spacious living area with wooden flooring running throughout. Whilst along the hallway is a modern, spacious kitchen with plenty of storage and modern appliances.

722

ÂŁ450/wk

BEDS

sq ft

TO LET

Shorrolds Road A very conveniently located two bedroom, newly refurbished ground floor flat within a Victorian terrace house, with an open plan, fully fitted kitchen and living area with French doors out on to a private patio garden. This property is modern and well decorated with two brand new bathrooms, one ensuite and the other a separate family bathroom.

596

ÂŁ495/wk

BEDS

sq ft

TO LET

Bishops Park Mansions A spacious two double bedroom, ground floor flat with large reception room, recently updated kitchen, communal gardens to the rear and tennis courts to the front. Ideally located in a popular mansion block next to Bishops Park, less than 10 minutes walk from Putney Bridge underground station (District Line, Zone 2).

826

ÂŁ495/wk

BEDS

sq ft

TO LET

Ackmar Road Located in an extremely popular street only a stones throw from Parsons Green itself, and only 150 metres from Parsons Green underground station. This one bedroom flat has a lovely private garden and has been well finished throughout with a modern kitchen and bathroom. It also has ample storage thanks to a large cellar and built in wardrobes.

549

ÂŁ410/wk

BED

sq ft

TO LET

GET IN TOUCH 020 7384 6790 hello@brik.co.uk brik @briklondon brik.co.uk 77 Parsons Green Lane, Fulham, SW6 4JA

WE BELIEVE

Like many people we believe estate agency is in need of improvement. We started Brik to challenge the status quo and our reputation has grown by delivering record breaking prices and quick sales with minimum fuss. Our formula is simple, sound advice plus friendly approach equals good result.

MEET BRIK

Chris Littlewood Co-founder NFOPP qualified

Ben Littlewood Co-founder NFOPP qualified

Michael Horne Co-founder NFOPP qualified

James Sims Sales Manager NFOPP qualified

Alex Weldon Sales Associate NFOPP qualified

Ben Francis Sales Associate

Tyrone Olivier Lettings Manager MARLA

Holly Jennings Lettings Associate

Coen van Leeuwen Brand Coordinator

Tegen Montgomerie Front Desk

Call us for a free valuation: 020 7384 6790

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