Prime London Agencies Making Hay While The Sun Shines

Aston Chase in top form with £175m in sales over the past five months.

Boutique firm Aston Chase joins other boutique operators reporting a bumper run of deals, after chalking up £175m worth of sales in the last five months alone…

As new data reveals the extent of the post-lockdown sales boom in PCL, we’ve been hearing of more agencies making hay while the sun shines.

The priciest postcodes to the north and north west have been among the top hotspots for£5m-plus deals this year, and NW1-based Aston Chase has reported achieving £175m in sales since government restrictions were eased at the end of May

The boutique firm has chalked up an impressive tally of 30 deals in the last five months alone, and has another 15 placed under offer.

Highlights from the recent flurry included the former home of hair tycoon Lesley Clarke home in St. John’s Wood (asking £11.95m, above), former BoE Governor Mark Carney’s £5.5m family house in South Hampstead (below), and chunky properties on Greenaway Gardens and Avenue Road – both of which achieved close to their £14.5m asking prices.

Apartments sold included a duplex on Hamilton Terrace (for just under £4m), and a new-build on St Edmunds Terrace (£2.85m).

Unsurprisingly, buyers have been displaying a penchant for larger homes with outdoor space since the pandemic took hold, and 60% of the recent sales have gone to UK nationals. International buyers have been notable by their absence, although the team managed to seal a deal on a £7.35m house on Hamilton Terrace entirely via WhatsApp and Facetime in one of the handful of sales involving a long-distance purchaser.

The firm’s rental department has also had a good year. Transactions were up between April and October (50 compared with last year’s 34), with top-notch family homes in St John’s Wood and Regent’s Park continuing to command between £6,000 and £7,000 a week.

Avenue Road, NW8

Hamilton Terrace, NW8

Mark Pollack, Director and Co-Founder at Aston Chase told PrimeResi: “Aston Chase have secured an impressive number of sales and rental transactions in recent months and although there was much uncertainty surrounding the implications of the COVID-19 pandemic, we have been overwhelmed by the demand and volume of sales. The market is now showing some signs of slowing down as we approach the end of the year partly due to pent up demand having been satisfied. Nevertheless, we predict a further likely surge in prime London residential property transactions when foreign buyers, most notably from Hong Kong, India and elsewhere in Asia, are able to travel following restrictions being relaxed.

“Although a threat of a no-deal Brexit and tax hikes remain, the COVID-19 pandemic has put a lot of things into perspective for people who now want to prioritise their family life. The majority of the population have realised that COVID will be with us for the immediately foreseeable future and this is the new reality. Consequently, instead of putting everything on hold, buyers are now acting with a lot more urgency to secure their dream homes and spacious properties in London with good outside space remain in strong demand.”

Greenaway Gardens, NW3