What do you actually need to know about a neighborhood when selling real estate? Knowing how your neighborhood relates to the next neighborhood (or instructing an agent who already knows) is the key to knowing your home's true value. Keep reading to find out how.
London as a whole is a special city. But once you step inside and take a closer look, you'll discover that it's made up of many incredibly unique towns, villages, and neighborhoods, all intricately connected. Art is needed to see how each place relates to every other place.
If you're looking to sell a property in the capital, the first thing you should do is book a valuation. Book with Foxtons and we'll send you a local market expert. They will tell you what brings buyers to your area, what should bring buyers to your area, and how your property fits in with what the current market is offering. I know exactly. This information is more valuable than you might think, especially in London. 
Every local market in London is unique
Each region of London has a unique combination of facilities (schools, shops, parks, theatres, transport links, sports arenas, etc.), creating a unique community. Over time, as the equipment changes, so will the area. Notting Hill in the 80s was very different to Notting Hill today.
Because London has expanded rapidly over a long period of time, there are also many planning permissions, listed buildings, parking regulations, building trends, etc. that affect the properties found in each area. For example, you'll never find a high-rise apartment development in Westminster, even if there was space. Because it would never be allowed to build something that high. The types of homes that can exist in an area influence the people who want to live there, creating character, such as Hackney's trendy vibe for young professionals or Richmond's lovely family-friendly landscape.
Thomas Brooks is Operations Director and Head of Private Office and leads Foxton's most experienced team of managers, brokering some of London's finest real estate. Thomas describes London localism as follows: “Typically, people come into our office in Mayfair and say, 'I want a family home in the heart of Mayfair,' and we say, 'Sorry, the Saudi Embassy is not for sale. there is no.”
Thomas continued: “If you want that architecture, you won't get it in Mayfair. We can give you an incredible bi-country apartment, because that's what Mayfair does brilliantly. Or if you want a single-family home, we can get it for you.” However, 90% of central London's stock is over 100 years old and with very restrictive planning laws, that is unlikely to change. ”
The power of local London
Not only are the different areas of London all unique, but they are also all cherished. In our experience, locality is a key factor for most buyers looking for London property. (Localism refers to buyers prioritizing familiar neighborhoods or specific local communities in their property searches.) This could mean renting an apartment in a familiar area for your child to study abroad. Maybe an international family. Additionally, first-time buyers may be particular about the area where their parents grew up, or young families may prioritize areas known to be child-friendly.
“We move buyers all over London, maximizing the connection between their ambitions and the properties of our vendors.”
At Foxtons, we help buyers widen their search. Thomas Levern, our Southeast Sales Director, explains:
“Let’s say a buyer wants to live in Battersea because it’s close to work in the city with Clapham Junction. It’s a great community to raise kids in, with good schools and nice coffee shops. Located around Clapham Common and Northcote Road, these beautiful period homes are one of London's most coveted. ”
“Battersea is a very well-known area for buyers with these priorities and is in very high demand, so this buyer may be struggling to find their dream home in that market. No.”
“No problem! We can show you around areas like Earlsfield, which have similar local amenities and communities, and excellent transport links through the Overground. Just one more stop to Waterloo. We transport our buyers all over London, with only a few extra stops and some beautiful historic homes, but perhaps a bit more remote than Battersea. , we need a truly comprehensive understanding of what each area of London has to offer in order to best match their wishes with our vendor properties.”
Ready to get started? Schedule an assessment.
Step 1: Book your assessment
You will see all of this local knowledge first hand when valuing your property. A good appraiser knows what a buyer values about an area better than the buyer himself. We also encourage you to bring in questions if you are being evaluated at Foxtons. Take advantage of the fact that there are experts who understand the process. Also, don't forget to subscribe to My Foxtons. This will organize all your information into your account.
Learn what happens with a real estate appraisal.
Step 2: Put that knowledge into action
Once your property is on the market, the negotiator who guides buyers should also be aware of all the benefits to the local area so that they can maximize the value of your property. That's why we invest in 150 hours of blended training for each negotiator. We make sure our negotiators are thoroughly familiar with the home and the area before conducting viewings.
Learn how to set up your property for a successful showing.
