Looking out of my offi ce window I watched with interest as an estate agent took photographs of my neighbour’s house, to be closely followed by a man in a van hammering in a For Sale sign. A similar, three bedroomed property opposite took nearly nine months to sell so I wasn’t holding out a lot of hope. But five days later, a Sold sign was proudly being displayed, much to the surprise of us remaining residents.
Being a sceptic, I would suggest the buyers either have an impeccable credit rating allowing them access to a much-prized 95 percent mortgage or have laid their hands on a signifi cant amount of cash - apparently 40 percent of sales are now to cash buyers, up from around 15 per cent in 2005. A new report from upmarket estate agent Savills, suggests the cash buyer fi gure could be even higher. It claims mortgages now fund just 46 percent of purchases. If only! Either way, the lucky buyers will still be able to enjoy the Stamp Duty holiday which flies home on March 24th.
The desire to live in your dream home is stronger in some than others. I have friends who spent a six-figure sum refurbishing a 1930s property in the Kent countryside, that now wouldn’t look out of place in Notting Hill. House design is definitely a passion which has to be taken seriously if you are to achieve the long-term vision.
Take a look at our Greenhouse feature in this issue of FC&A, where 2012Architecten designed a house made from almost 70 percent recycled materials for a contemporary art-collecting couple. It’s outstanding in its principles as well as its application. For me, I guess home is where the heart is, watching my neighbours pack!
