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Moore Park Road SW6 £3,600,000

Waterford Road SW6 £945 per week

Clonmel Road SW6 £1,995,000

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FULHAMMarketON THE

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“In Fulham and the surrounding Parsons Green and Bishops Park areas, property prices have risen by up to 5% since the beginning of the year.”

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buyers per property in Fulham

15% more corporate tenancies compared to the same period last year

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Alex Lyle Associate Director, Sales

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Alex Lyle looks at the increasing demand for property in Fulham across all price brackets, and explains why the Budget was good news for the housing market

Sales in numbers

Of THE aSkINg PRIcE

On average we achieve

* Source: Marsh & Parsons Property Price Index

In Fulham and the surrounding Parsons Green and Bishops Park areas, property prices have risen by up to 5% since the beginning of the year, where a lack of available property and increasing demand from buyers has helped to push these prices upwards. The ratio of buyers to property stood at 15.6 in January, rising to 19.4 in March however, with more property coming onto the market, this has now settled at 15.5. As such, we expect the recent price growth to stabilise in the coming months.

Competition amongst buyers is highest in the £1.5m to £2m price bracket, where buyers can get a 2,000sqft Victorian family house for less than £2m – a rarity so close to central London. As a result, we are achieving record prices for these premium properties and the price per square foot is being pushed close to £1,100 in many cases. At the end of last year, we sold an unmodernised house on Clonmel Street, SW6 for £1.6m and last month we sold an almost identical house (admittedly it didn’t need quite so much work) for £1.9m. The Munster Village is catching up with the rest of Fulham in terms of price per square foot – we have just agreed a sale for a house on Wardo Avenue for £1.7m, within three days of it being on the market. The same house sold for £1.3m exactly two years earlier. This demand for good quality, family houses in the Munster Village and Bishops Park areas is at an all time high and to provide our buyers and sellers with the best possible service, we are opening our second office in the area, on Fulham Palace Road in early summer.

The £2m+ market has really stepped up since the beginning of the year. Although cautious, buyers are getting used to the increased stamp duty for property above £2m, and we currently have three properties under offer on the Moore Park Estate alone – ranging in price from £2.5m to £3.6m. Interestingly, we have noticed an increase in the number of buyers moving from the SW5 or SW10 areas into Fulham, where they have more choice and more space for their money.

There is also a shortage of property around the £500k mark – and plenty of buyers, particularly for two-bedroom apartments with outside space. Within the first two days of marketing a two-bedroom duplex on Mirabel Road, we had 20 viewings and sold the property for the full asking price of £650k.

With Easter out of the way (a month earlier than last year), we are now entering a traditionally busy time for the property market across all prime areas of London. The buyer-to-property ratio is unlikely to change however, as more choice of property will inevitably attract even more buyers to the market. The recent budget has provided clarity for both buyers and sellers, and so, with a renewed sense of certainty, particularly with the absence of a mansion tax and no sign of a stamp duty hike to 7% for £1 million property, the sentiment in the market is more positive. A more penal stamp duty levy at £1m would have been bad news for the central London property market, especially as over 60% of property in Prime Central London is now valued at more than £1m.*

In our opinion, the Budget in general, was good news for the property market. The ‘Help to Buy Scheme’ will provide £130bn worth of mortgage support to buyers at the sub £600,000 level. Whilst this may not have a huge impact on buyers in Prime Central London, it will effectively rescue ‘mortgage prisoners’ across London and the UK, who have been stuck in their current property, unable to move onto the next stage in their property-buying career. In turn, this will free-up much needed property for first-time buyers, which is depressing supply throughout the housing chain. The scheme will also provide buyers with up to 20% “equity loans” for new build properties, which we hope will provide confidence to house builders that a ready, willing and most importantly able market, are ready to invest in a much needed supply of new property.

Contact Fulham Sales Team on:T 020 7736 9822E sales.ful@marshandparsons.co.uk

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Despite this apartment being marketed alongside a number of other agents, we attracted multiple viewings and a record sales price for the street. Our local know-how and unrivalled experience of selling property in Fulham, ensures we attract the best buyers and the best results, every time.

Local know-how. Better results.

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Stevenage Road SW6 £2,400,000

Bovingdon Road SW6 £2,150,000

Niton Street SW6 £699,950

Bovingdon Road SW6£835,000

Waldemar Avenue SW6 £1,450,000

Clonmel Road SW6 £1,995,000

Bovingdon Road SW6 £1,650,000

King’s Road SW6 £450,000

Harwood Road SW6 £780,000

Harwood Terrace SW6 £795,950

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Moore Park Road SW6 £3,600,000

Maxwell Road SW6 £2,750,000

Harwood Road SW6 £725,000

Fulham Park Road SW6 £765,000

Moore Park Road SW6 £2,595,000

Clare Mews SW6 £1,100,000

Danehurst Street SW6 £710,000

Imperial Wharf SW6 £3,500,000

Tasso Road W6 £1,200,000

Harwood Road SW6 £1,100,000

Wardo Avenue SW6 £1,699,950

Hartismere Road SW6 £665,000

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Our offices:

Balham

Barnes

Battersea

Bishops Park

Brook Green

Chelsea

Clapham

Earls Court

Fulham

Hammersmith

Holland Park

Kensington

Little Venice

Marylebone

Mayfair

North Kensington

Notting Hill

Pimlico & Westminster

South Kensington

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Sylvie Bahmanyar Associate Director,Lettings

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Sylvie Bahmanyar looks at demand from differing parts of the rental market and how landlords should go about securing the best tenants

Of OuR buSINESS IS fROm lETTINgS

WE CONSiDER iT JuST AS iMPORTANT AS SALES

Lettingsin numbers

Traditionally, demand for rental property in the first quarter tends to be cooler than the rest of the year. This is not to say the market is bad, it just means that landlords need to act smarter and use proactive, experienced agents with the knowledge to navigate through more challenging waters.

There were however, clear winners and losers in Q1. One and three-bedroom apartments were, and still are, in huge demand, many attracting competing offers within days, or sometimes within hours of coming onto the market. This has, in some cases, significantly pushed up rental prices. For example, three bedroom flats close to transport are consistently commanding a premium of up to 10% more than this time last year.

Two-bedroom flats on the other hand, were in over supply, mainly due to an influx of buy-to-let investors swamping the market. For years, two-bedroom properties have been considered the best rental investment, with the widest appeal, but some landlords have experienced a rental drop of up to 8%, compared to the same period last year. However, the basic supply and demand principle still exists, and as we move into the busier summer market, this demand has already risen. Well presented two-bedroom properties in sought-after locations will not sit un-let for long, especially if they have a garden and we expect prices to catch up again in the second quarter of the year.

In all areas of Fulham, the professional sharer appears to be the most represented type of tenant for flats. They are slightly more price sensitive, as they are more often than not, saving hard for a deposit so that they can buy their own property a few years down the line. However, there has been an interesting emergence of tenants who have resigned themselves to the fact that buying is currently an unrealistic option as prices rise. As a result, they are willing to pay a premium for a higher standard of living, foregoing any savings generated through a more frugal existence.

Since the beginning of the year, we have seen a 15% increase in the number of applicants registering with our Corporate & Relocation

Services department. With rental prices in central London continuing to rise, families and young professionals alike view Fulham as a favourable alternative. We’ve just let a beautiful family house on Waterford Road to four professional sharers working in the city; this house would have normally been snapped up by a family however, by clubbing together, young professionals recognise the benefits of renting a whole house in Fulham, rather than a smaller flat just across the border in the neighbouring Royal Borough.

Indeed since the Easter break, the house market has woken up. Keen to get ahead of the market and settle before the summer, families are starting to move. If children are in the mix, competition will get fierce over the next few weeks, with parents battling to get the right house, in the right street, which falls within the school catchment areas. In fact, we’ve just rented a large house on Rumbold Road to a family for two years, the key driver being Fulham’s excellent schools.

Good tenants are now more savvy, and continue to look for value in the market. When pricing property, there is a fine line between asking just enough and too much – and we make sure our landlords don’t fall on the wrong side of that line! For reassurance, landlords should familiarise themselves with the competition and to attract the best tenants, they should present their property in the best possible light. If there is a damp spot, dirty windows or fused light bulbs, get these things fixed before putting your property on the market. First impressions count, so spending a few pounds will almost certainly increase the appeal of your property and attract the highest calibre of tenant.

If you’re thinking of letting your property and want to achieve the best price, now is the time to act. Summer has a habit of luring tenants away from the thrill of a good property search, not to mention the strongest rental prices.

Contact Fulham Lettings Team on:

T 020 7371 7748E lets.ful@marshandparsons.co.uk

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Woodlawn Road SW6 £570 per week

Waterford Road SW6 £495 per week

Musard Road W6 £625 per week

Whittingstall Road SW6 £495 per week

Sailmakers Court SW6 £565 per week

Wandsworth Bridge Road SW6 £445 per week

Irving Mansions W14 £575 per week

Brompton Villas SW6 £725 per week

Cheryls Close SW6 £595 per week

Waterford Road SW6 £945 per week

Mendora Road SW6 £580 per week

Lambrook Terrace SW6 £525 per week

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Our offices:

Balham

Barnes

Battersea

Bishops Park

Brook Green

Chelsea

Clapham

Earls Court

Fulham

Hammersmith

Holland Park

Kensington

Little Venice

Marylebone

Mayfair

North Kensington

Notting Hill

Pimlico & Westminster

South Kensington

EPC=C

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Fulham 103-105 Moore Park Road, SW6 2DA

T 020 7736 9822

E sales.ful@marshandparsons.co.uk

E lets.ful@marshandparsons.co.uk

Our other offices:Balham, Battersea, Barnes, Bishops Park, Brook Green, Chelsea, Clapham, Earls Court, Hammersmith, Holland Park, Kensington, Little Venice, Mayfair, Marylebone, North Kensington, Notting Hill, Pimlico & Westminster and South Kensington.

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NORTHSHEEN

SOUTHFIELDS

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KINGSTONVALE

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COLLEGEPARK

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BRONDESBURYPARK

EASTACTON

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KENSALGREEN

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KILBURN

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ST JOHN’SWOOD

REGENT’SPARK

EUSTON

KINGS CROSS

WATERLOO

VICTORIA

CHARINGCROSS

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STRAND

HOLBORN

BLOOMSBURY CLERKENWELL

SOUTHBANK

PENTONVILLE

KENSALTOWN

WESTKILBURN

SHEPHERD’SBUSH

NOTTINGHILL

NORTHKENSINGTON MARYLEBONE

MAYFAIR

LITTLEVENICE

BAYSWATER

PARSONSGREEN

HURLINGHAM

SANDSEND

LAMBETH

STREATHAM

PUTNEY

WIMBLEDON

BATTERSEA

BARNES

CHISWICK

HAMMERSMITH

CITY OFLONDON

FULHAM

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WandsworthCommon

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Alex Lyle Associate Director, Sales in FulhamT 020 7471 4523 E alyle@marshandparsons.co.uk

Sylvie Bahmanyar Associate Director, Lettings in FulhamT 020 7471 4528 E sbahmanyar@marshandparsons.co.uk

How long have you been selling property in the Fulham area? I’ve been selling property in Fulham for over five years now and I still love it! Personally, I think Fulham has some of London’s most beautiful properties. Why do a lot of people move to the Fulham area? A majority of our buyers are moving to Fulham from areas such as Chelsea and Kensington because they can get more for their money. Families are attracted by the great schools and young professionals by the lively culture. Where would you recommend for a good meal? I often go with the team to the Pelican pub after work. The Harwood Arms is also great – they serve fabulous, authentic British food.

Where are the most sought after properties in Fulham? Young families want property on the Peterborough and Moore Park Estates. The ‘Alphabet Streets’ and prime Parsons Green are also hugely popular. Professionals are drawn to one and two bedroom properties, either Victorian conversions or riverside apartments. What’s your top tip for landlords currently looking for tenants? Every landlord wants the highest possible price and the best possible tenant – we will do both, but the property must be presented in its best possible light when viewings begin. Are there any hidden gems in the area? I love the Fulham Palace grounds and Bishops Park – the Ornamental Lake and historic Urban Beach have recently been restored, so it’s lovely taking a stroll on a hot summer’s day.