Adrian Black delivers critical property market insights and the influences, behaviour and money driving them.
Hello. I hope today marks the beginning of a very different relationship in London between homeowners, landlords and the property world.
In summary, we feel people should be informed and comfortable with property activity rather than the often uncomfortable, opaque and sometimes suspicious relationships that exist today. We believe the time is right for a much more open, arguably smarter and transparent estate agent in London.
We also believe, given the modern world and advances in technology estate agents should be able to be very successful and charge lower fees.
We have successfully piloted our concept on the south coast and are opening today our Notting Hill office – an area my team and I know exceptionally well, having studied and lived here for many years.
We combine an exceptional knowledge of local life with a deep understanding of property, marketing and economics and a huge insightful property research database.
Let me share some snippets of information that illustrate how we think and also how we will share information with you. We believe that it's really important to consider local village property supply and demand and how that village is seen locally, nationally and internationally.
So, for example, for Hillgate Village, we estimate that the total spend on property in 2012 was just under £84m and in 2006 £58m. The number of transactions has fallen from 57 to 29 and the average transaction price over this period has risen by a little over 150%. The short term outlook is very positive. In Ladbroke, a much bigger area but also a village, we estimate that the total spend in 2012 was almost £254m and in 2006 £203m. The number of transactions per year has fallen from 185 to 108 and the average transaction price over this period has risen by around 115%. The short term outlook is again very positive.
We will be sharing, and adding to this information for you. We have also published lots of London local village data on our YOUeye tool (www.youeye.co.uk). We look forward to working with you.