As we enter the summer months, there is election fever in the Capital and this brings much speculation.
The Labour party are clear favourites and we know about some of their plans. There is reforming the leasehold system, which the market would welcome but the devil will be in the details. There is also dismantling of the Non Dom tax regime and a possible increase of stamp duty for overseas buyers.
In the meantime, the Conservative party are looking to entice voters with the promise of reduction in taxes, including abolishing stamp duty tax for first time buyers up to £450,000.
Whilst at first glance, Labours manifesto looks potentially onerous on the top end of the market, we should remember the last time the Labour party were in Government the prime Central London market prospered.
In the last few months Plaza Estates has experienced a 25% increase in transactions compared to the previous year. Activity from new applicants is down but this is not surprising with an election just around the corner.
There are some positive signs for the economy. With inflation at 2% the present Governments target, we do feel it is only a matter of time before there is an interest rate drop and possibly a further reduction at the end of the year or early next year.
Whilst many buyers will feel uncertain, I would urge the most prudent of buyers now is the perfect time to plan to invest in London and take advantage of the many opportunities that are available and the attractive price levels.
Vendors are reporting they are receiving mixed advice from fellow estate agents. Some remain bullish and are encouraging high pound per sq/ft prices. However our data shows vendors who accept to sell their property must price their property at a competitive rate. They are the one’s who are achieving sales in what remains a tricky market.
If you are a vendor and you are committed to selling a property you must accept the market climate and price your property accordingly. There are buyers out there and deals are being concluded.
If we can assist you in either selling your prime central London property or you wish to buy a property, please do contact us. All enquiries are treated in the strictest of confidence.
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Eitan Fox
I started at Plaza Estates in 1986. Eleven years were spent successfully running the Marble Arch office. Subsequently, I was asked to take on the exciting challenge of running the Sales Department in our Knightsbridge office. I have built an experienced team with the ethos that local knowledge, hard work and professional service will always provide success to our clients. With ever changing technology of which Plaza Estates are at the cutting edge of, I have often been asked, with over 30 years in the business, how I retain my enthusiasm? I am delighted to say many of our multi million pound clients are genuinely my friends and I have a great passion for people. My staff and I never forget that this challenging industry ultimately is a 'Peoples Business'. Therefore I would welcome the opportunity to help you with your property needs and hope you will allow our fully equipped and motivated team to provide you with their professional assistance.
If you want 5-star reviews and want to remove negative reviews from Google, contact me via my profile; my contact details are listed there.
SM
Dear Eitan
In this whole sorry saga, with headbutting, unproactive lawyers, and a comatose estate agent etc etc, you have been a beacon of light throughout. Efficient, professional and responsive. This would never have got done without you.
Thank you.
All the best.
Maurice Shasha
We have been using Plaza Estates for many years for all our property requirements (sales, letting and management) and are delighted with the results and service they constantly deliver and provide!
KS
I generally dealt with the Marble Arch branch most of the time, but I can also say that the Knightsbridge office was also exceptionally helpful and professional on the occasions I did deal with them. Plaza Estates in general are excellent.
YZ
Have interacted with Plaza Estates across a couple of sites and always been impressed. Maurice must be the hardest working, most dedicated, helpful and knowledgeable account manager for any company anywhere! A real asset to the team!
LI
I have been a client of Plaza Estates for over 30 years and received excellent service. Both Rodney on the rental side and Fiona in the property management area have been have been attentive and helpful and always willing to go the extra mile on the few occasions when there were problems.
SA
Hope both of you are doing well. I wanted to thank you for always being there for us and for addressing our concerns promptly; safe to say you have been the best agents I have had the pleasure of interacting with.
KR
We have owned our Flat since 2008, which we purchased through Plaza. Our relationship with Plaza goes back to 1982 when we purchased a nearby flat and Plaza have handled all our lettings since then. I would have no hesitation in recommending Plaza - they will find you a good tenant and ensure your ...
MS
Thank you again for all your advice and calm attitude and charm. Nobody could try harder than you, and for which, we really thank you and appreciate it all, not just now, but over the years.
Thanks again for everything!
LT
Thank you for your kind help and your advice, it's been precious!
