There’s a slowdown in the UK property market and it’s hitting London hardest. House prices in the capital for the first half of 2018 fell at the fastest annual rate since the financial crisis of 2007-2008. It may not be the best time to sell your London property, especially if you aren’t prepared to compromise on price.
Speaking to The Guardian, one London Estate agent said “House price growth outside of London is being supported by a continuing shortage of stock whereas the capital and the south-east can’t hide behind this excuse any longer. Price drops are continuing and reflect a new realism in the market – if you want to sell your property, it needs to stand out and price is the obvious way of doing it.”
One mortgage lender told the news site The Week, “A significant effect of Brexit is subdued investment confidence. Would-be sellers are holding onto assets for longer and buyers are being a little more diligent before committing to significant expenditures.”
So, what are picky buyers looking for in London property? Could your high-end German kitchen save the day?
Property price matters, especially to first-time buyers
According to The Financial Times, many London property buyers are switching their preferred location to beat stamp duty. This comes after stamp duty was scrapped for first-time buyers on the first £300,000 of any home costing up to £500,000. Find out more about the new stamp duty regulations for first time buyers here.
According to Which Consumers’ Association the most popular places for London’s first-time buyers are Harold Wood, Northolt, Bromley, Upper Holloway and Archway, and Sutton. In a slowing market, your property will need to have something going for it, if you’re not prepared to compromise on price.
A show-stopping kitchen
There’s no escaping the fact that kitchens sell houses. Now that the kitchen is the fully fledged heart of the home (and has been for a while now), an outstanding kitchen is sure to reel in the buyers.
Nothing is more appealing to a homebuyer than a high-end German kitchen. Take a look at German kitchen specialists, Halcyon Interiors for inspiration on your new investment.
For now, let’s take a closer look at the German kitchen phenomenon.
Kitchens of the future
German kitchens are quite simply ahead of the curve when it comes to kitchen design. German kitchen manufacturers are renowned the world over. Not only do they benefit from well-established principles of craftsmanship, they’ve cleverly combined those components with modern technology and have invested heavily in research and development over the years.
The result has been the production of sophisticated kitchen furniture with a product quality and design like no other in the world. The reputation of the German kitchen is a deserved one.
German kitchens never go out of fashion. Always on trend, German kitchens from 10 years ago look every bit as good in modern homes today. These are minimal kitchens with smooth clean lines offering outstanding ergonomics. German kitchens are modern, but extremely versatile when it comes to different property styles.
Form and function are words you’ll hear a lot with German kitchen design. Not only do German kitchens deliver aesthetically, they incorporate technology-led innovations that are as ingenious as they are practical. You really won’t find a more forward-looking kitchen than one with a German design.
Just as you would expect from any feat of German engineering, German kitchens have a reputation every bit as good as German cars. Tested to rigorous standards, a German kitchen can be expected to last for a minimum of 15 years, and probably much longer.
Unlike flat-packed kitchens, German kitchens are manufactured and assembled at the same time. This means quality is rigorously checked before it leaves the warehouse. All in all, this makes them much more resilient, rigid and robust.
If you really want to impress prospective buyers, once you’ve dazzled them with the aesthetics of your beautiful German kitchen, let them take a peek at the storage behind the sleek exterior. Just as you think a German kitchen couldn’t get any better, the functionality behind the lines will absolutely blow your buyers away.
So, can a German kitchen help sell your London property? Absolutely. Kitchen envy is hot in property circles right now. A German kitchen is a real selling feature that will definitely add value.
And if you happen to have a garden
If your high-end German kitchen includes bifold doors which open out onto a garden (even a small one) that’s another box ticked. According to the Evening Standard Homes and Property news, outdoor space can add up to £90K to the value of a London home.One question, if you have a beautiful German kitchen, why on earth are you selling up!