Premium Property Costs in South Kensington

South Kensington is well known as being one of the most exclusive addresses in the world. Affluent professionals and A Listers aspire to call it home. A 3 bedroom penthouse previously owned by Kylie Minogue was previously on the market for £6.5million. Foxtons state that the average price of a South Kensington 2 bedroom flat is £1,546,735 whilst a 4 bedroom house would set you back around £3,012,500. This compares to £250,000 for the UK property average.

However, Dawson & Associates has seen time after time that even if you are interested in paying these premiums, locating a property in this densely populated area is easier said than done.  Perhaps that is why an apparently “uninhabitable” South Kensington flat recently sold for more than £600,000. The telegraph reports that this property, with only 30 years left on the lease has been deemed worthy of such a high asking price by an anonymous buyer (despite the fact that it may shake when the underground passes by).

James Wardle, director of the selling real estate agency, Hamptons International, said: "Stanhope Gardens is one of South Kensington's most sought-after garden squares, with apartments selling for well over the £1 million mark.” Due to the extreme high demand for properties in this area, it seems that there is still potential to make a profit on the purchase.

But any potential property investors should beware. These development projects often prove risky and a successful outcome solely depends upon finding the right property in the first instance. Even in areas such as South Kensington, good profits cannot be obtained if the property itself is not structurally sound. With over 40 years of experience, Dawson Surveyors can evaluate any residential or commercial real estate and provide a true current and future value. Do not risk making an investment without professional, specialized advice from a chartered surveyor.

Afree instant property survey quote can be received here.

Neighbourhood Planning Updates

RICS have recently issued an alert to ensure that all Chartered Surveyors are aware of the updates to neighbourhood planning rules.

Neighbourhood planning was introduced in 2012 to aid the development of land and the appearance of the construction of new homes and offices. In addition, the government made financial and advisory support available for communities who felt the need to develop their neighbourhoods. Whilst there was great reticence for the initiative in the early days, there are now more than 1000 neighbourhood plans in preparation. 

One of the biggest advantages of a neighbourhood plan is the increased communication within a community. Local residents and business owners are given a say in the use and distribution of their area. In some situations, a thorough neighbourhood plan with a clear intention can avoid the requirement for the planning applications that generally need to be submitted to local authorities. 

However, Dawson & Associates does strongly recommend that all development plans are prepared with the input of a professional. Whilst it is important to consider the opinions of key members of the local community and to assess the needs of all who reside there, it is essential that construction expertise holds equal value if a plan is to help the community to grow and be successful. 

Neighbourhood plans should never be underestimated. They should be informative and knowledgeable documents and therefore they require heavy commitment from those who have shown an interest in being involved. The document gives certain levels of power and responsibility so those taking the reigns of the project much be carefully selected. 

If you are involved in a neighbourhood plan and require some expert input OR if you are considering a neighbourhood plan and would like some advice before commencing, please call Dawson & Associates. 01424 882263 
Initial advice is provided free of charge and it could help to immediately resolve a potentially problematic situation. 

We have been in business since 1980 and we know that in the property industry, there are no problems – ONLY SOLUTIONS.

The Royal Institute of Chartered Surveyors ensures that all of its members are fully informed at all times regarding the latest property regulations. A RICS regulated practice such as Dawson & Associates maintains the high standards set by the regulatory body – employing the vast skills and extensive experience of senior personnel to cover all aspects of property surveying, design and management.

Smallest Ever New Build Properties in the UK

Newly built properties in the UK are now reported to be amongst the smallest in Europe. At an average of only 76 sqm, even Spain's homes (a country that has suffered recent years of economic and construction crisis) are apparently more spacious at an average of 97 sqm.

The question has to be asked – how can a property investment which is, of course, a lifelong commitment be justified if it barely provides enough space for 2 busy people let alone the additional family members or pets who may come along in the future. Some may argue that these 76 sqm are only intended to home its residents as they arrive onto the property ladder and that the intention should always be that as the family grows, so does the income and therefore the property. But this immediately results in a huge amount of pressure being placed on the average household.

RIBA says that the abolition of the minimum space standards through the 1980 Local Government, Planning and Land Act is to blame. However, the government is now calling for an end to these "rabbit hutch" homes which could place unnecessary frictions on family relations.

The problem is further exacerbated due to the fact that the UK property industry greatly needs new properties to meet the growing market. Not enough properties have been constructed over recent years and therefore, prices are increasing in response to the demand.

How does the sensible buyer react to such a conflicting market situation? Dawson & Associates is always an advocate of sound advice. As qualified property surveyors since 1980, we know that every property problem has a solution and we can apply expertise to help you to find the answers that you require. Whether you need to find a property that has the potential of giving additional space in the future or if you simply want to know whether a property is truly worth the high price tag, call us. Initial advice is free of charge.

The British culture places a lot of pressure on its residents to purchase a property. But without the property advice of a thorough property survey, mistakes can be made. Call us at any time to discuss your potential property purchase.

Book a Surveyor +44 1424 882263   www.dawsonsurveyors.com