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Plaza Estates
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Central London Property experts Plaza Estates located in Knightsbridge and Marble Arch and established in 1972.
Central London Property experts Plaza Estates located in Knightsbridge and Marble Arch and established in 1972.

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Recommend a new Tenant or Landlord to Plaza Estates and receive £100 or an equivalent Selfridges voucher*

Successfully recommend a new Tenant or Landlord to Plaza Estates and receive £100 or an equivalent Selfridges voucher*

We have solved property problems for some big names, and we can do the same for you, allowing you to enjoy the festive season. We use all of the most popular websites like PrimeLocation, AgentsMutual and Zoopla, as well as glossy property magazines, online advertising, direct mails, emailers and our window displays.

Contact Plaza Estates’ lettings teams today and benefit from our 45 years of experience.

By participating in this promotion you are deemed to accept these terms and conditions together with any terms and conditions of any relevant third party.
www.plazaestates.co.uk/news/recommend-a-new-tenant

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Are you looking for quality tenants?

Now is the perfect time to reap the rewards of the busy autumn market.

Some of our recent lettings:

www.plazaestates.co.uk/news/are-you-looking-for-quality-tenants

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Will stamp duty reform be on the Autumn Budget agenda?

The Autumn Budget is scheduled for 22nd November 2017. We wait to see whether or not stamp duty reform be on the agenda.

Stamp duty is generally considered to be a stumbling block for first-time buyers, an impediment which has contributed to a slowing property market. But stamp duty has also impacted buyer activity at the top end of the market. With talk of possible stamp duty reform in next month's Autumn Budget, will Chancellor Philip Hammond make changes?

The National Association of Estate Agents (NAEA Propertymark) is calling for the government to remove the burden of stamp duty for first-time buyers, aiding mobility at the lower end of the market, while also making stamp duty exempt for pensioners, thereby encouraging them to downsize.

The NAEA said: "By making it easier for older people to sell their homes, it will free up family-sized homes for the next generation and boost housing supply."

There have also been calls to transfer the burden of paying stamp duty from buyers onto vendors. This would boost buyer activity and get the market at all levels moving while ensuring the government still receives revenue from stamp duty.

Since stamp duty increases took hold, including the extra 3% surcharge on holiday and second homes, the number of property transactions in central London in particular have fallen. A general reduction in the level of tax would surely help to boost market activity across the board.

The Chancellor has announced that the Autumn Budget 2017 will be published on 22nd November, so we'll wait to hear if stamp duty receives a mention.

www.plazaestates.co.uk/news/will-stamp-duty-reform-feature-in-the-autumn-budget

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PORTMAN SQUARE, MARBLE ARCH, W1, £7,500,000

Call our Marble Arch office on 020-7724-3100 to arrange a viewing

An exceptional and stunning interior designed five bedroom lateral apartment extending to 2,603 square foot on the second floor of one of the finest buildings in London.

This apartment has been refurbished to an exceptionally high standard, creating a truly spectacular London apartment, benefiting from exceptional entertaining space with a spacious double reception room, large fully fitted Poggenpohl kitchen/dining room, four en-suite bedrooms, 5th bedroom with separate bathroom, cloakroom & utility room. The apartment also benefits from high ceilings, Lutron lighting and Air Conditioning throughout. Orchard Court is a prominent 1930’s block and is positioned on the eastern side of Portman Square, with use of the gardens, and can be entered from Seymour Mews into the arched approached courtyard with parking. The block provides 24 hour porterage, lifts and impressive communal areas with two elegant entrance halls. Ideally located moments away from the world renowned Selfridges department store, a short walk to Bond Street and the plethora of shops, boutiques and restaurants of Mayfair and Marylebone. The open spaces of Hyde Park and Marble Arch underground station are close by.


www.plazaestates.co.uk/properties-for-sale/5-bedroom-apartment/portman-square-marble-arch-w1/ref-w15252
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31/10/2017
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Sell or rent out: which is best in the central London market?

This article outlines whether you should sell or rent out your central London house in the current market.

When people ask us whether they should they sell their house or rent it out, we would love to be able to give them an immediate answer, an answer that sends them away satisfied they are doing the right thing.

Unfortunately, the answer we end up giving them will depend on their circumstances because there no one size fits all answer to this question.

The answers ‘will depend on why they are considering selling or renting, and these reasons differ from having to relocate for work reasons or a concern over their finances.

However, recently there has been one reason people with property in Central London have asked this question.

And this reason is the uncertainty of the property market in London, especially properties in the more affluent areas.

Uncertainty in the market

The rise in stamp duty and the result of the EU referendum have been blamed for the current uncertainty in London’s property market. But even the experts cannot agree how bad things are and when things will improve.

In November 2016 it was reported that price of houses at the top end of the property ladder were down by over 5%. It was also predicted that London’s house prices would not rebound until 2020.

Some boroughs have fared better than others. One of the reasons for this is that some investors decide to sell their property and put their money elsewhere. This reduction in high priced property is worrying those who rely on the property increasing in value rather than rental income to make their investments pay. And this is why many of them are asking whether they should sell their property or rent it out.

Should you sell or rent?

There no one answer which fits every situation. It really depends on each individual’s circumstances. And to what economic prediction they choose to believe.

Those with a low mortgage or who are mortgage free and believe the property market will bounce back in the next two or three years may choose to rent or continue renting until the upturn arrives. However, those with a substantial mortgage will have to consider their position. If they can hold on until the economic outlook for property prices improve, then renting is the answer.

This, of course, is if the rent they receive will cover their mortgage and other costs of being a landlord. If this is not the case then selling would be the most prudent step to take.

But there are other factors to be considered when it comes to renting a property.

Can you rent?

Those who are already landlords will have no problem. However, those people with a mortgage who intend to become a landlord could have a problem. Some mortgage lenders will not allow the property to be let. If this is the case, there is the option of changing to a lender who will agree, but this is becoming increasingly difficult and would be costly.

However, some mortgage lenders will allow a property to be rented out but the conditions are quite restrictive, so it would be advisable for people to check their mortgage agreements.

Call us for help

Not sure whether to sell or rent your property? Contact us here at Plaza Estates. We have years of experience of the central London property market. We will be able to advise you on the best course to take regarding your property.

www.plazaestates.co.uk/news/should-you-sell-or-rent-your-central-london-property

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FEATURED PROPERTIES TO LET by PLAZA ESTATES

MARYLEBONE, W1, £3,500 pw, 3 BED

This surprisingly large house, which is spread across 5 floors, has been interior designed to the highest standard. The living space comprises a large reception across the ground floor, an open-plan kitchen/dining room as well as additional living space and a patio on the floor below, and large media/games room, with a bathroom, in the basement.

www.plazaestates.co.uk/news/plaza-estates-autumn-market-comment-2017

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Rental Market Comment Autumn 2017

As predicted, enquiries for larger family properties dropped off as summer ended and the new school year commenced.

The market activity we reported in our Summer Newsletter has increased dramatically this Autumn. August was still active for us (not everyone was on holiday!) and September and early October has seen tremendous demand from international students and professionals wanting to rent largely in the mid market level.

As predicted, enquiries for larger family properties dropped off as summer ended and the new school year commenced. Many of these recent tenancies were agreed at asking price or close to it, with tenants realising that the rent levels being asked were realistic. We do our utmost to advise clients on all aspects of the market. Starting at the right rent level is key, as well as how best to present a property to make it more appealing.

We provide our landlords with tips on anything that needs to be done to maximize the property’s potential and speed up the process of securing a good tenant. Tenants do have a choice and properties need to be freshly decorated and well cared for. Tenants want good landlords as much as landlords want good tenants!

www.plazaestates.co.uk/news/rental-market-comment-autumn-2017

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Sales Autumn Market Comment 2017 by Eitan Fox

Many have anticipated the signs that the pound could further improve, getting closer to it’s pre Brexit position.

Entering into Autumn we have seen greater signs of positive activity. We have taken on more instructions at more realistic price levels. The pound has strengthened against the dollar and the euro, although sterling is still 14% lower than its rate post Brexit.

We have had significantly more interest from buyers entering back into the prime Central London property market. Many have anticipated the signs that the pound could further improve, getting closer to its pre Brexit position and this has brought confidence back to the market plus buyers feel they do not want to miss out on the still advantageous rate of exchange.

As more and more vendors accept the position of the market, buyers are recognising the opportunities the market can offer.

Certainly there is still caution but this is also tempered with optimism.

www.plazaestates.co.uk/news/sales-autumn-market-comment-2017-by-eitan-fox

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5 mistakes people make when selling their house

Are you selling your central London home?

This article outlines five mistakes people make when selling their house.

It's easy enough to make mistakes or be caught out during the process of selling your house, and this is true even if you've previously sold other properties and are familiar with the process.

Selling a property is always fraught with the possibility of mishap. However, if you take the best advice and remain proactive throughout the process, you are less likely to make mistakes and more likely to enjoy a relatively mishap-free house sale.

1) Choose an active local agent with a good record
By 'good record' we mean choose an active agent who has experience of selling your type of property in that area of the market. Almost always look to a local agent, as that agent should know the market well, and this should give you an edge.

2) Don't be unrealistic about the market price
It can be tricky, even if you've got a good estate agent on side, to set the right price for your property. The first thing to recognise, is that your house is only worth what someone is prepared to pay for it. Set the price too high, and you are likely to discourage potential buyers, price it too low, and people might wonder if there is something wrong with the property or if there is a reason they should be wary. In the current central London market the general sentiment is one of caution, so look to be more conservative when setting the price, and with any luck, you may attract a bidding war.

3) Not preparing the property ahead of viewings
A home near Marble Arch or in Knightsbridge will almost sell itself, but don't let this view alter your approach. Always be proactive and do as much as you can to make sure the property sells for the best price. This means preparing the rooms and boosting their appeal. Declutter and depersonalise, and if some of the walls or skirting boards need a little TLC, make sure the work is carried out. Also, fix anything which needs fixing, clean the windows, and generally beautify the property as much as possible in preparation for viewings.

4) Not focusing on the property's best features
Every property has its best features. If you're selling a period property, hone in on its most significant and winning period features, such as an original fireplace. If you're selling a more modern apartment, shout about what makes it unique and desirable.

5) Don't reject an offer straightaway
It's important to consider any offers you receive carefully. Don't dismiss any offer too quickly, however low. Potential buyers will always look to see what they can get away with on the initial offer, so all you need do is negotiate a price you are happy with. If you need to sell quickly and you get an offer from someone who is not in a chain and who, if the offer were accepted, could move quickly, then that is also something to consider. Stand your ground, but don't be too stubborn if potential buyers feel the price is too high.

Selling (or buying) a property will rarely be a breeze, but the best thing you can do is be prepared, be proactive, and surround yourself with a good estate agent and good solicitor, then take heed of this advice.

If you want to sell your central London home, we're the central London estate agents to contact. Call us today.

www.plazaestates.co.uk/news/five-mistakes-people-make-when-selling-property

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Hurricane Ophelia: London is cloaked in a strange orange glow, Estate Agents still selling Properties

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