Long-Term Growth for Flats:

The big news for potential flat buyers is that average prices have risen by a significant 8.5% compared to five years ago. This means you’re getting more for your money in the long run, even if the market might have cooled slightly recently.

Affordability Considerations:

While there’s positive long-term growth, there’s also a caveat. The report shows that achieved prices per square foot have dipped slightly over the last year, down 0.8% for flats. This suggests a potential market correction after a period of growth.

Speedier Sales:

If you’re a seller, there’s some good news! Hampstead appears to be a hot spot for quick sales. The report indicates that 20.8% of properties sold within just 3 months, compared to a much lower 14.6% average for the whole of Central London. This suggests high buyer interest in the area.

Price Points:

Looking at specific figures, the report reveals that properties sold in the last 3 months fetched an average price of £1,056,596 for flats and a much steeper £4,420,694 for houses.

Overall:

The Hampstead property market seems to be in a state of flux. While there’s long-term growth for flats and a seller’s advantage in terms of speed, recent price dips suggest a potential market shift.

Stay tuned! This blog will continue to monitor the Hampstead market and keep you updated on future trends.

The LonRes Lettings Report for Hampstead, covering November 2023 through January 2024, reveals a mixed performance in the letting market. While there is positive growth compared to last year, there has been a significant decrease in lettings compared to the previous quarter.

Key Findings

• Rental values averaged £833 per week for flats and £2,055 per week for houses.
• Average rents per square foot achieved £49.53 per annum, up from £45.87 over the same period last year but down from £51.70 six months ago.
• The number of properties let increased by 7.5% year-over-year but decreased by 43.3% compared to the prior quarter.
• Achieved rental values rose by 8% year-over-year but fell by 4.2% compared to the previous quarter.

Increase in Rents Compared to Last Year

The report indicates a positive trend in rental values compared to the same period last year. This suggests a potential rise in demand for rental properties in Hampstead.

Significant Decrease in Lettings Compared to Previous Quarter

While there is a year-over-year increase in lettings, the report highlights a substantial decrease in the number of properties let compared to the previous quarter. This could be due to seasonal fluctuations in the rental market or a shift in renter preferences.

Overall, the LonRes Lettings Report for Hampstead presents a mixed picture of the letting market. While there are positive signs of growth compared to last year, the significant decrease in lettings compared to the previous quarter warrants further observation.

In addition to the findings above, you may also want to consider including the following in your blog post:

• Local market insights: Is there any news or events that may have impacted the letting market in Hampstead during this period?
• Outlook for the future: What are some predictions for the Hampstead letting market in the coming months?

By incorporating this additional information, you can provide your readers with a more comprehensive understanding of the Hampstead letting market.

First impressions matter, and the effect of interior design decisions on potential buyers in Hampstead cannot be overstated. Despite the temporary nature of styling, seemingly superficial details can be highly off-putting to buyers. The importance of presenting a home well is underscored by the fact that 90% of buyers start their property search online, spending a mere 20 seconds on each listing, according to the Home Staging Association. In this fast-paced market, those initial seconds can make or break a potential sale.

Outdated style

Styles from decades past, particularly from the 60s and 70s, can clash with modern preferences. Quirky colour schemes, swirly carpets, and outdated furniture may be a nostalgic treat for the sellers but can date the entire house, creating a mismatch for prospective buyers.

Feature Walls

Once a popular trend in the early 2000s, feature walls have firmly fallen out of fashion. Kirsty Allsopp recently declared on Twitter/X “If you want your room to feel shorter, paint or wallpaper one wall differently to the other walls.”  Inoffensive and tastefully neutral interiors are generally preferred by sellers. The broader the appeal, the faster a property is likely to sell.

Taxidermy

This has had a slightly surprising revival but is still very divisive. Preserving animals as decor may be of interest to some, but for many potential buyers, it is an absolute turn-off.

Smells

Overpowering smells, like pet smells, damp, or cigarette smoke, can also be deal-breakers, emphasising the importance of ensuring that your property is clean and fresh-smelling before every viewing.

Clutter

Too much clutter or too many personal items pose another challenge. While a lived-in space helps buyers imagine themselves in the home, excessive personal touches may distract and even deter them. Striking the right balance between a property feeling sterile and having too much personality is crucial.

Aga

The decline in the popularity of the Aga serves as a reminder that even once highly coveted features can become turn-offs, particularly for younger buyers concerned about energy costs. Sellers should consider updating or converting such features to appeal to a broader audience.

Home staging is a valuable tool in a property sellers toolkit. According to the 2023 Home Staging Report staged homes, on average, sell 58 days faster than non-staged properties. If you don’t feel that you are able to stage your home yourself then there are professional home staging companies that can help you. Home staging can range from filling an empty house with furniture to subtle tweaks that enhance a property’s appeal.

While style plays a significant role, buyers must strike a balance, ensuring they do not overlook a great home due to minor stylistic issues. Ultimately, the condition and location of the house remain the most critical considerations, with style acting as a powerful but secondary influence in the home-buying decision.

If you are considering selling your property in Hampstead and would like some advice on how to get it market ready please give us a call on 020 7759 2199 or send an email to enquiries@vitaproperties.uk.

Here’s a glimpse into the events happening in the city that promise to make this weekend memorable.

Battersea Light Festival 2024

Date: 25th Jan – 25th Feb
Location: Battersea Power Station
Website: https://batterseapowerstation.co.uk/events/light-festival-2024/

Kickstart your weekend with a spectacle of light at the Battersea Light Festival 2024. The iconic Battersea Power Station has transformed into a canvas of illuminated art, creating a mesmerising visual experience. From light installations to interactive displays, the Battersea Light Festival promises to enchant visitors with a dazzling showcase of creativity and innovation.

YSP x Roti King at Yard Sale Pizza

Date: 21st Feb – 19th Mar
Location: Balham, Clapton, Crystal Palace, Crofton Park, East Dulwich, Finsbury Park, Hackney Road, Leytonstone, Tottenham, Walthamstow
Website: YSP X ROTI KING – Yardsale (yardsalepizza.com)

Indulge in a culinary collaboration that brings together the flavours of Yard Sale Pizza and Roti King. This unique event promises a fusion of pizza creativity and Malaysian roti expertise. From innovative toppings to bold flavour combinations, YSP x Roti King at Yard Sale Pizza is a celebration of culinary exploration that invites food enthusiasts to savour the best of both worlds in a single bite.

Jamon Jamon

Date: Various Dates

Location: Soho, Camden, Belsize Park, Islington
Website: Jamon Jamon – Bar de Tapas & Paella

Transport your taste buds to the vibrant streets of Spain with a visit to Jamon Jamon. This Spanish tapas restaurant captures the essence of Iberian cuisine, offering an array of flavourful dishes inspired by the rich culinary traditions of Spain. From succulent jamón to mouthwatering paella, Jamon Jamon invites diners to experience the warmth and hospitality of Spanish dining in the heart of London.

Oddono’s Gelato

Date: Various Dates
Location: Hampstead
Website: http://www.oddonos.com/

Satisfy your sweet cravings with a visit to Oddono’s Gelato in Hampstead. Renowned for its authentic Italian gelato, this gelateria crafts a delectable array of frozen delights using traditional recipes and high-quality ingredients. Whether you’re a fan of classic flavours or prefer adventurous combinations, Oddono’s Gelato promises a refreshing and indulgent experience that transports you to the sun-drenched streets of Italy. 

The Holly Bush

Date: Various Dates
Location: Hampstead
Website: The Holly Bush

Wrap up your weekend with the historic charm of The Holly Bush in Hampstead. This traditional pub, nestled in a picturesque setting, invites visitors to unwind in a cosy atmosphere steeped in history. From crackling fires to a well-curated selection of drinks, The Holly Bush provides a quintessentially British pub experience. Whether you’re enjoying a Sunday roast or sipping on a pint, this pub offers a delightful conclusion to your weekend adventures.

Whether you’re captivated by the luminous wonders of Battersea Light Festival, savouring culinary collaborations at Yard Sale Pizza, indulging in Spanish tapas at Jamon Jamon, enjoying gelato delights at Oddono’s, or embracing the historic pub charm of The Holly Bush, the city promises a weekend filled with cultural richness, culinary delights, and timeless charm. So, gather your friends, embrace the weekend spirit, and make the most of the enchanting offerings London has to offer. Happy weekend exploring!

Moving into a new home is both exciting and daunting. Whether you’re a first-time renter or a seasoned tenant, understanding what to expect can help make the transition smoother. Here’s a comprehensive guide to help make your move into your new home in Hampstead an easy and enjoyable one.

Inspection and Inventory

Before settling in, conduct a thorough inspection of the property. Document any existing damages, take photographs, and notify your letting agent or landlord. This ensures that you won’t be held responsible for pre-existing issues when it’s time to move out.

Tenancy Agreement

Understanding the terms of your tenancy agreement is crucial. Pay close attention to details such as when your rent is due, the length of your agreement, and any specific rules or restrictions that you need to abide by. Familiarise yourself with your rights and responsibilities as a tenant.

Utilities and Services

Contact the current utility providers for the property so that they can set up your account. If you would like to change providers then always make sure to inform your landlord or letting agent. Make a list of emergency contacts, including the local council and relevant service providers, and keep it handy for quick reference.

Additional Costs

In addition to the rent, be prepared for additional costs like council tax, contents insurance, and any service charges specified in your tenancy agreement. Planning your budget accordingly will help you manage your finances more effectively.

Personalise

While rental homes come with certain limitations, there’s still plenty of room for personalisation. With your landlord’s permission, consider adding decorative touches, such as curtains, rugs, or removable wallpaper, to make the space feel more like home.

Communicate

Establish clear lines of communication with your landlord or letting agent. Promptly report any maintenance issues, and seek permission before making significant alterations to the property. A good relationship with your landlord can make the whole renting experience more enjoyable for both sides.

Maintenance Responsibilities

Make sure that you understand which areas of maintenance you are responsible for. They will be outlined in your tenancy agreement. Generally, landlords are responsible for structural repairs, while tenants are expected to handle day-to-day maintenance. Keep a record of any communication related to repairs for future reference.

Community and Local Amenities:

Explore your new neighbourhood and find out where the local amenities are. Engaging with the local community will enhance your time living in your home.

Security and Safety Measures

Ensure your home is secure by checking the door and window locks. Have an exit plan in case of fire and ensure that you take all possible precautions to avoid one starting. Taking proactive steps towards safety will provide peace of mind.

Enjoy Your New Home

Moving into a new rental home is exciting. Understanding and preparing for these aspects of moving into a rental home can help you to navigate the process with confidence and make the most of your new home. Take time to settle in, meet your neighbours, and enjoy the experience.

We have helped hundreds of tenants settle into their new homes in Hampstead. If you are considering letting your property and would like to know how we can help you to find your ideal tenants or if you are looking for a new rental home in Hampstead please give us a call on 020 7759 2199 and we will be delighted to help you.

Moving to a new home can be both an exciting and stressful experience, whether you’re buying your home or moving to a new rented one. The process of packing up your life and moving to a new home often comes with its fair share of challenges. However, with careful planning, moving can be turned into a stress-free experience for everyone involved.

Plan Early

The key to a smooth move lies in meticulous planning. Begin by creating a comprehensive checklist that includes tasks such as decluttering, organising your belongings, and informing your utility companies and other service providers about your  impending move. Beginning your planning early means that you have more time to organise everything over a longer period of time which makes it into a less overwhelming experience.

Declutter

Moving home is an excellent opportunity to declutter. After all, the less you have, the less you have to pack. Decide what you truly need and want to take to your new home and donate or sell the rest.

Packing

Invest in good quality packing materials and pack room by room. Clearly label boxes with their contents and the room they belong to. This will make unpacking easier and will also help your movers to know which rooms to put boxes into in your new home. Always make sure that you make it clear on the box if it has fragile contents.

Professional Movers

If your budget allows, consider hiring professional movers. They are experienced at handling the logistics of a move, ensuring that your belongings are transported safely and efficiently. Research reputable moving companies, read reviews, and obtain quotes to find the best company for your needs.

Notify Utility Companies

Ensure a smooth move by letting your utility, internet and any other relevant service providers know about your move well in advance. That way you can make sure that disconnections and reconnections match with your moving dates.

Moving Day Survival Kit

Pack a bag with essentials for the first night at your new home. Include toiletries, a change of clothes, important documents, and any items you’ll need immediately. Having a moving day survival kit reduces the stress of searching through boxes for essential items.

Ask for Help

Having extra hands can make the whole process easier and faster. Consider organising a packing party or offering a meal as a thank you for their help.

Take Regular Breaks

Moving can be physically and emotionally draining. Remember to take regular breaks, and get a good night’s sleep before and after the move. Taking care of yourself ensures you’ll be better equipped to handle any challenges that may arise.

These strategies can help you to turn moving into a positive and manageable experience. We are always happy to share our home moving advice. If you are thinking of moving to a new home in Hampstead please don’t hesitate to contact us for more home moving advice

As the weekend approaches, London unveils a diverse array of experiences, from indulgent brunches and artistic escapades to culinary delights, musical journeys, and captivating dance performances. Here’s a glimpse into the events happening in the city that promise to make this weekend truly special.

Drunch

Date: Various Dates
Location: Mayfair, Regent’s Park, Oxford Circus
Website: Drunch

Start your weekend on a delightful note with brunch bliss at Drunch. Renowned for its luxurious and indulgent brunch offerings, Drunch provides a sophisticated setting for those looking to savour delectable dishes and refreshing drinks. From classic brunch favourites to innovative culinary creations, Drunch invites guests to unwind and enjoy a leisurely brunch experience in Mayfair, Regent’s Park or Oxford Circus.

Painting and Prosecco! Holborn

Date: 18th February
Location: The London Art Bar, Holborn
Website: Painting & Prosecco! Holborn

For those with a creative flair, Painting and Prosecco in Holborn promises an artistic adventure like no other. This event, hosted by Popup Painting, is an opportunity to display your artistic skills while sipping a refreshing glass of prosecco. Whether you’re a seasoned artist or a first-time painter, this experience offers a chance to unleash your creativity in a fun and relaxed setting. Gather your friends, pick up a paintbrush, and let your artistic spirit soar as you create your masterpiece.

La Crêperie de Hampstead

Date: Various Dates
Location: Hampstead
Website: La Crêperie de Hampstead

Indulge your taste buds with the culinary delights of La Crêperie de Hampstead. This charming French crêperie brings the authentic flavours of Brittany to the heart of London. From sweet crêpes with decadent fillings to savoury galettes with an array of delicious ingredients, La Crêperie de Hampstead offers a taste of France in a cosy and welcoming setting.

Jinkichi

Date: Various Dates
Location: Heath Street, Hampstead
Website: Home – Jin Kichi

This family-run Japanese restaurant in Hampstead has recently expanded its capacity with a newly refurbished, larger restaurant. It is home to authentic Japanese cuisine, serving customers high quality yet affordable Japanese food such as yakitori and sushi, traditional rice dishes and noodles.

Sadler’s Wells

Date: Various Dates
Location: Sadler’s Wells,Angel Rosebery Avenue
Website: Welcome to Sadler’s Wells

For dance enthusiasts, Sadler’s Wells is the ultimate destination for a weekend filled with captivating performances. As a world-renowned dance venue, Sadler’s Wells presents a diverse program featuring contemporary dance, ballet, and groundbreaking choreography. From international touring companies to emerging talents, the stage at Sadler’s Wells comes alive with the beauty and power of dance. Check the schedule to catch a mesmerising performance and witness the magic of movement unfold before your eyes.

Whether you’re indulging in brunch bliss at Drunch, unleashing your artistic side at Painting and Prosecco, savouring French delights at La Crêperie de Hampstead, embarking on a journey of culinary discovery with Jinkichi, or experiencing the dance delights at Sadler’s Wells, the city promises a weekend filled with cultural richness, artistic exploration, and culinary delights. So, gather your friends, embrace the weekend spirit, and make the most of the enchanting offerings London has to offer. Happy weekend exploring!As the weekend approaches, London unveils a diverse array of experiences, from indulgent brunches and artistic escapades to culinary delights, musical journeys, and captivating dance performances. Here’s a glimpse into the events happening in the city that promise to make this weekend truly special.

Flats See Long-Term Value Increase:

Great news for potential flat buyers! The report reveals a positive long-term trend, with average flat prices sitting a healthy 8.7% higher compared to five years ago. This translates to an increase of £84 per square foot, showcasing the area’s enduring appeal.

Market Correction for Flats?:

However, there’s a nuance to consider. While there’s long-term growth, the report also shows a slight dip in achieved prices per square foot over the last year. Flats specifically have seen a 0.7% decrease. This could indicate a potential market correction after a period of sustained growth.

Fast Sales for Sellers:

Sellers have reason to be optimistic! The report highlights Hampstead’s advantage when it comes to property turnaround. A significant 21.3% of properties sold within just 3 months, compared to a much lower 14.6% average for the whole of Central London. This suggests strong buyer interest in the area, making it a good time to consider listing your property.

Price Points:

Let’s delve into specific figures. The report reveals that properties sold in the last 3 months fetched an average price of £1,063,888 for flats. Houses, on the other hand, commanded a steeper price tag of £4,420,694.

What Does it Mean?

The Hampstead property market appears to be in a period of adjustment. While long-term growth for flats and a seller’s advantage in terms of speed are evident, recent price dips suggest a potential shift.

Stay Informed!

This blog will continue to monitor the Hampstead market trends and keep you updated on future developments. Stay tuned for insights into whether these recent dips are a temporary blip or a sign of a more significant change.