Press Article
METRO - 3 March, 2011
Property Characteristics
By Jo Eccles
For most buyers, there are several characteristics which tend to make a property highly desirable. The more of these characteristics your property has, the better it should serve as an investment when you come to sell it in future. We always advise clients to buy as cleverly as they possibly can within their budget – it tends to be much better to purchase a bright, well proportioned property in a slightly less sought-after area, than buying a dark, gloomy, tiny flat in a more expensive area, as the latter will be harder to sell in future.
In every price bracket in Central London, we’re currently seeing a two tier system emerge whereby the best 10% of properties are in very strong demand and are being snapped up quickly, but the remaining 90% of properties – those which are less desirable – are taking longer to sell.
Natural light tends to be very important and a well proportioned layout is also key; the most in demand properties tend to have even proportions throughout. First floor properties in any period conversion often sell for a premium because they typically have high ceilings, lots of natural light, and benefit from the security and privacy of being above the ground floor – people will pay up to a 40% premium for the best first floor flats.
In terms of whether to purchase period or new build, this tends to be a personal choice. Some buyers prefer the convenience of a new build development, whereas others place more importance on the character that period properties offer. Whichever appeals to you, again, the key is to focus on the layout, light, proportions and floor to ensure it’s a good investment. A pretty outlook is always a bonus too.