Name and business title: Mark Howell - Director of Aspire estate agents' Battersea office.
Where is your firm selling new homes? We have handled small to medium sized developments over the years for London developers and, as and when the large schemes come onto the market we are involved with those too. Aspire has a network of high profile, prominently located offices throughout South West London. I have experience in selling developments from Wandsworth Bridge - such as the Battersea Reach development - through to SE1 developments and the popular NEO Bankside.
What types of properties are on offer? We are presently selling a selection of one- and two-bedroom apartments in Spinnaker House, Battersea, which have only been built in the last 18 months and which are already being re-sold. This is often the case at present, as many investors who buy off plan look to sell their property on, within a relatively short time period from purchase, in order to gain an immediate profit.
How much does a new home cost to buy? It is entirely dependent on the type of development and area. In a development such as Battersea Reach, which is currently still under construction, one-bedroom apartments range from £375,000 to £450,000, two-bedrooms are £450,000 to £750,000, three-bedrooms are £750,000 to £1.3m and four-bedrooms and penthouses can cost upwards of £1.3m. These are all rough guide prices and act as an example of what is available.
What makes a new home stand out from the crowd? Usually new build properties are quite plain and simple in their decor so dressing them up is key. As there are often a number of new builds on the market at any one time, most developers dress up a show home to allow people to fully imagine how they will live in the property. I would recommend dressing to the nth degree - using neutral colour schemes for the furniture and providing colour in the accessories - right down to the finishing touches of lamps and cushions and going as far as hanging pictures and placing a fruit bowl on the dining table. Furnishing a property helps potential buyers to figure out the purpose of a particular room and allows them to imagine where their belongings might fit in. In vacant properties, buyers tend to focus on every imperfection. The more dressed up, the greater the show home feel.
Have you noticed any particular buying trends recently? The main and growing trend is the overseas investment in new build property, particularly from the South East Asia and the Middle East. As the sterling is weak and the UK housing market still seems to be on the up, our new build properties continue to be an attractive investment for foreign investors. Properties are normally purchased off plan, hold for three to five years and then sell once the value has hit a certain level. We are also witnessing money coming from Europe - such as Italy, France and Greece -where either an increased tax regime is being levied or the economy is unstable.
We have also seen a number of buyers coming forward who are from the UK - but own a property in the country - and require a London base for one or two days per week for business or recreational use. For these customers, a new build property makes an ideal investment as it is secure and low maintenance - essentially acting more like a hotel than a home.
Is your company currently offering any incentives or discounts to homebuyers? Not currently as most of the properties in the areas we cover seem to fly off the shelves and thus additional incentives appear to be currently unnecessary.
Which new homes development potentially offers the best property investment prospects? We believe the Battersea Nine Elms regeneration area offers strong prospects for property investment. Plans for the capital's biggest regeneration zone are very impressive and will bring 16,000 new homes, parks and promenades as well as bars, restaurants, a Northern line extension and a new Thames bridge connecting Battersea to the Pimlico waterfront - in essence creating a new London district. The new US embassy, due to open in 2016 in Nine Elms next to the power station site, will also form part of the regeneration programme with an 11-storey cube surrounded by the Embassy Gardens homes complex, bars, restaurants and a spa. All this will create a community in itself and Battersea will therefore become a more desirable address in the capital. I expect that SW8 will be one of the most sought after postcodes in London once all the works are complete - so now would be a great time, for both UK and international buyers, to invest in the area.
What is Aspire's USP? Aspire is a uniquely run company with individual principles about how we do business. Every one of our branches has a director based there which means that clients will always be able to deal directly with the business owner providing a greater level of service and consistency. Our marketing allows our clients to get unrivalled exposure to the market and through our in house magazine we are able to showcase a selection of our best properties as well as local businesses.
On a personal level, I have previously worked for a large corporate agency specialising in new build schemes and I have a wealth of experience with regards to dealing with the overseas market, pricing schemes and launching them to the UK market. I am bringing this experience to aspire and helping our company move up to the next level with regards to new build schemes.
Have any of your clients ever won a What House? Award? Not yet!