What will happen to house prices in 2021
It’s hard to believe now, but this time last year, all the talk was about how resilient the housing market had been in the face of Brexit uncertainty. And, with Boris Johnson’s election and his unexpected success in renegotiating terms with the EU, it all ended with a rising sense of optimism. Commentators were even promising ‘a far brighter, smoother year in 2020’. Little did they know.
By January, the market was beginning to feel the effects of the much anticipated ‘Boris Bounce’. Rightmove reported asking prices had risen by 2.3%, their biggest ever rise for the month. In February, asking prices rose again, this time by 0.8% and, according to Rightmove’s Miles Shipside:
“Owners coming to market this spring face their best selling prospects for several years.”
Even London’s market, which had been lagging behind the rest of the country, was showing signs of improvement. In February, prices in inner London rose by 3.5% and by 3.1% annually.
And then in March we had lockdown and house sales fell off a cliff. In an effort to prevent the market from crashing, the government slashed the base rate to 0.1% and introduced mortgage holidays for cash-strapped homeowners. Even so, many were predicting house prices could fall by as much as 15%.
Unable to buy or sell, the housing market was forced to tread water until May, when it unexpectedly reopened. After months of being confined to our homes, many were desperate for some extra space, especially those living in flats. With the weather improving, we also wanted gardens and easy access to open spaces.
All that pent-up demand meant, just two days after the reopening, there were 5.2 million visits to Rightmove’s property portal. It was a different story for first-time buyers, though. The crisis had made lenders wary of exposing themselves to those with smaller deposits and a huge number of high loan-to-value mortgages were withdrawn from the market. As a result, demand was far higher for houses than for starter flats, especially for those in less urban areas, as we sought refuge in the country.
In July the Stamp Duty holiday was announced and things really took off. Buyer inquiries rose by an astonishing 75% compared to July 2019. Activity didn’t even quieten down for Christmas. With delays in many parts of the sales process, buyers and sellers rushed to get deals tied up before the Stamp Duty holiday ends on 31st March 2021. In the midst of it all, our Brexit deal was finally signed off, although it no longer grabbed the headlines like it once did. By the time the year ended, prices were up by an impressive 7.3% (Nationwide).
So, what about 2021? After 2020, only the very brave would claim any real certainty, but the general consensus is that, despite the latest lockdown, the rush to beat the Stamp Duty will keep agents busy until the end of March. New sales activity, however, may be reduced from February, as deals agreed beyond January would be very unlikely to make the cut. As has happened with previous changes to Stamp Duty, there is then likely to be a significant lull.
What comes next is not yet clear but, by late spring, large numbers of people will have been vaccinated, which should bring about a feel-good factor. If we then see a rapid economic recovery then house prices will rise with it. If, on the other hand, the economy fails to recover quickly enough or unemployment rises more than expected, prices could come down. The uncertainty means experts’ predictions for 2021 are even more wide-ranging than usual, varying from -5% to +4%. Even if the most pessimistic of predictions came true (-5%), it would still not wipe off the spectacular and unexpected gains made in 2020.
2020: The facts
Nationwide: Dec 19 to Dec 20: National £230,920 +7.3%. London £486,562 +6.2%
Halifax: Dec 19 to Dec 20: National £253,374 +6.0%.
Land registry: Oct 19 to Oct 20: National £245,443 +5.4%. London £490,936 +3.9%
Hometrack: Nov 19 to Nov 20: Top 20 cities £259,900 +3.5%. London £485,100 +2.8%
Rightmove: Dec 19 to Dec 20: National £319,945 +6.6%. London £620,986 +3.5% (asking prices).
The predictions:
Please note – where possible, comparative figures for 2020 are from the commentator’s own indices.
Nationwide
Nationwide’s indices recorded growth of 7.3% in 2020. Last year, they predicted prices would remain flat. This time around, they haven’t given a precise figure but say:
”The outlook remains highly uncertain. Much will depend on how the pandemic and the measures to contain it evolve as well as the efficacy of policy measures implemented to limit the damage to the wider economy.”
Halifax
Halifax didn’t give an exact figure for 2020 but expected prices and transaction volumes to rise. In the event, they did, but – but by an unexpectedly high margin – 6%. This year, with unemployment likely to be on the increase, they expect prices to fall between 2% to 5%
Hometrack
They were one of the few to get things just about spot on with their prediction of +3% against a final figure of 2.8%. This year, they expect house price growth to slow to +1%
Rightmove
Rightmove are another who underestimated growth in 2020. Their 2% prediction was some way below the 3.5% reality. They are one of the more optimistic about 2021, forecasting growth of 4%, with housing remaining a priority on people’s life agendas.
RICS (Royal Institution of Chartered Surveyors)
RICS predicted prices would rise by 2% in 2020, which was some way short of the average 6%-7% reported by the larger lenders. They are yet to make a prediction for 2021.
ARLA Propertymark (National Association of Estate Agents)
Last year, more than a quarter of member agents (28 %) were expecting house prices to fall against 56% who expect them to remain the same. Only 25% got it right, expecting prices to rise. They have yet to make their predictions for 2021
A selection of other predictions
CEBR expects house prices to fall by 3% in 2021
EYITEM expects a fall of 5%
Capital Economics is also predicting a fall of 5%
What will happen to the rental market in 2021?
At the start of 2020, supplies of rental property were plunging and rents were rising. In January, Homelet’s Rental Index showed average rents were up by 2.3% and by 4.4% in London. Despite a raft of upcoming tax and legislative changes, landlords’ confidence remained surprisingly high - 25% were expecting rents to increase, and 32% were expecting property prices to rise (source: Paragon Mortgages). Then, just as with the sales market, March came and everything ground to a halt. Afraid of mass evictions and tenant hardship, the government allowed tenants to take a three month rental holiday and banned evictions.
Pent up demand ensured there was plenty of activity when the market re-opened in May, although COVID restrictions made viewings more complicated than previously. Just like the sales market, demand for inner city properties was markedly lower than for other areas, with tenants searching for more open spaces, resulting in a market that was operating at two different speeds.
As we moved into summer, landlords, unable to evict tenants, were becoming increasingly concerned about tenants’ arrears, although rents continued to rise - up by 2.1% between July and August. In the autumn, there was a brief window of opportunity for landlords to evict problem tenants, but with such large backlogs, only the most serious cases were heard. The extension of the furlough scheme until April 2021 did offer some comfort, providing vital financial support for both companies and their employees.
By the time the year ended, rents had risen by 2.7% across the country but had fallen by 4.5% in London. The average rent (excluding London) is now £838 and £1,556 in the capital (source: Homelet).
Commenting on the outlook for 2021, Andy Halstead, chief executive at HomeLet & Let Alliance, said:
“Whilst overarching optimism remains strong for 2021, with vaccines being rolled out for COVID, we can still expect a year that will be disrupted by the impact of the virus. With the new national lockdown and the prospect of additional restrictions to help curb the impact of the virus and new variants, we can expect the demand for certain property types and locations to grow, pushing rents up further.”
Our eventual return to commuting may also lead to increased demand for properties in city centres, especially if, as expected, the cost of commuting rises substantially as transport companies try to make up for their substantial losses.
As ever, there are some legislative changes to watch out for this year - electrical safety tests will be required for all existing tenanted properties by April 1st, although, the government is being lobbied to extend the deadline for another 12 months. The eviction ban has just been extended for another 6 weeks and may well be extended again. And, finally, the Right to Rent checks on EU citizens will change from 30th June 2021 to take into account the new Points Based Immigration System.
Fittings & Fixtures
Fittings and fixtures
What should stay and what should go
Over the years there have been an awful lot of horror stories about people moving into a new house or flat, only to find it stripped bare, with even the light switches removed. Don’t panic, these are extreme examples, but whether you are buying or selling a property you need to be very clear about what is staying and what is going. Arguments over fixtures and fittings can be costly and, in certain circumstances, can adversely affect the sale of a property. Your solicitor should be able to steer you through the process, but to avoid the pitfalls, you need at least a basic understanding of how it works.
The logical starting point is the definition of fixtures and fittings. Fixtures – these are things that are fixed or bolted down, such as a kitchen unit, a fitted wardrobe or a plug socket. Fittings – these are things that can be carried away, such as a hanging mirror, rugs and curtains. The problem is that there are also a lot of things that fall into the grey area between. What about shelves that are not fixed? A seller may wish to take them, but a buyer may assume they are staying. A freestanding cooker is by definition, a fitting, not a fixture. Sheds are another common problem area - if they don't have foundations, they are not considered to be fixtures. Hanging lights are technically fixtures, although it is normal practice to replace them with hanging bulb fittings during the course of a house sale.
The general rule of thumb is that if there is no agreement, fixtures remain and fittings are removed. However, almost all vendors will provide a fairly comprehensive inventory of what is staying and what is going. You can, in theory, put what you want on the list. The vendor has the right to take any fitting not specified in the inventory, which can sometimes come as a surprise to the buyer. Conversely, if you take something with you that was included in the sale or, for that matter, if you leave anything behind that is not, in extreme circumstances you can be taken to the Small Claims Court.
Most problems occur when a buyer fails to check the list properly, distracted by other, more pressing issues. If something untoward does happen during the moving process, before you let the matter go to court, you should be aware that the cost of it will almost certainly be more than replacing, say, a set of shelves or some door handles.
The best way of dealing with the issue of fittings and fixtures is to do some preparation. Before you sell, go through each room carefully and make a note of all the things that you are taking with you, especially if they are fixed elements. Then hand the over list to your solicitor. If you are buying - check the house to see if there are any specific items that you would like to have included in the sale. If they’re not listed on the inventory, you may want to offer to purchase them. It is very important that this part of the process is handled with tact. What you may consider to be a piece of old tat may be a prized family possession and it is not uncommon for one or other party to take offence during the process. Another point to note is that most vendors consider anything under 12 months old to be priced almost as new, regardless of its true value.
For anyone buying a rental property, you could save yourself quite a lot of money if you buy some of the existing fittings. And, don’t forget to check to if anything you’re taking with you will actually fit in in your new place. If your Welsh dresser is higher than your new kitchen ceiling, it's the perfect opportunity to offer it to your buyer. Again, don’t be offended if they don’t want it – everyone has different ideas and taste.
Finally, always keep in mind you are selling a house, not a wardrobe or some flowerpots from the garden. Don’t let negotiations over minor issues sour the whole process.
The information is for general guidance purposes only and does not constitute legal advice. Should you need legal advice please contact an appropriate professional.
Rental Update
Rental news
Covid has resulted in some testing times for landlords. With the government’s ban on evictions of non-paying tenants, many landlords have had to bear a heavy financial burden and the protective measures keep coming. Evictions were allowed to begin again on 21st of September but there are big backlogs at the courts. At more or less the same time, though, the rules for regaining possession changed. Now, if you want to sell the property, for example, and your tenants don’t want to leave, it will take at least 6 months to remove them, even if their contract comes to an end in the meantime. The government is also proposing a ‘Christmas Truce’ preventing evictions over the festive period and temporary bans on any evictions in lockdown areas.
For landlords who need to regain possession as a result of rising rent arrears, the new legislation was not good news. Research by the Resolution Foundation found one in eight private tenants had fallen behind with their rent since the outset of the pandemic. If you add in delays at court, landlords could wait up to a year before they can evict non-paying tenants. Mediation services may well be the best option - the PRS Mediation Service (https://tenancymediation.theprs.co.uk/) works on behalf of both landlords and tenants. Its costs are very reasonable – starting at £100 for helping arrange an informal understanding to £300 for a legally binding and documented agreement. And, even if no agreement can be reached, the courts will at least look favourably on any efforts to reach a compromise.
There are exceptions to the six month eviction rule - landlords are only required to give 4 weeks’ notice if the issue is anti-social behaviour and 2 to 4 weeks notice for domestic abuse and false statement cases. 4 weeks is the timescale for anyone whose rent arrears are over six months and breaches of Right-to-Rent or Right-to-Remain have a 3 month notice period.
The unusual conditions mean rents are following a very similar path to the sales market, with rising demand and prices in many regions. Across the UK, average rents were up by 0.2% in September and by 2.1% annually. In London, though, rents continue to fall, down by 0.4% month on month and by 2.8% annually. The closer to the centre, the greater the falls, with some of the biggest to be found in areas in and around the City. The falls are likely to be only temporary though and should, hopefully, be reversed in the spring when many of us may return to our normal places of work.
Commenting on this month’s data, Martin Totty, chief executive at HomeLet, said:
“Tenant demand remains strong whilst supply may be a little more constrained if some landlords are selling into a stronger sales market, even if that could be a short-term phenomenon. It also doesn`t help tenants much if, for them, the prospect of securing first time mortgage finance remains as elusive as ever.”
If you have a property for rent or sale in Notting Hill, Bayswater, Kensington or Holland Park and are concerned about any of the issues raised in this article.
Call us at Homesite and we can talk you through your options.
House Prices Notting Hill, Holland Park & Kensington Feature High On House Value List : The most exclusive London postcodes where houses sell for £23 million
It's no secret that buying a property in London can ring up a huge bill.
The average London house price stands at £653,965 in September 2020, according to Zoopla. For most of us, this is way too expensive, but for others this is a mere drop in the ocean.
For the wealthy among us, their price range is higher than most - way higher.
While we can all guess some of the luxury areas that the rich and famous like to call home, it's interesting to note exactly where is the most expensive.
Postcodes SW6 in Fulham and NW3 that covers Hampstead, Chalk Farm, Primrose Hill, are prime London’s top spots for £1 million plus property sales so far this year.
When it comes to the absolute pinnacle of prime London property, Chelsea’s SW3 postcode has seen the most transactions so far this year, with nine other postcodes seeing property sales complete over this price threshold.
Houses went for a whopping £15 million.
But again, this pales in comparison to the N2 postcode which saw sales of £23,500,000. The postcode covers Hampstead, Highgate, Barnet and Haringey.
Take a look at the full breakdown below.
The most exclusive London postcodes
1. N2 - Hampstead, Highgate, Barnet and Haringey - £23,500,000
2. W11 - Kensington, Notting Hill and Holland Park - £20,000,000
3. SW1W - Knightsbridge and Belgravia - £18,400,000
4. W1K - Mayfair and St James's - £17,500,000
5. NW8 - St John's Wood, Regents Park and Primrose Hill - £15,396,500
6. SW3 - Chelsea - £15,000,000
7. W2 - Bayswater and Maida Vale - £13,000,000
8. W8 - Kensington, Notting Hill and Holland Park - £12,750,000
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A moving story
When was the last time you moved house? How often does everyone else do it? And does that mean you are mister or missus average, or are you forging your own path?
Our relationship with our homes is changing. In the wake of the crash of 2008, we have seen the rise of Generation Rent. Home ownership has fallen from 70.9% in 2003 to 63.3% and is now way below the EU average of 70%. And, although around 1,200,000 UK residential properties change hands each year, the fact is that we are moving far less frequently. Over the last thirty years the turnover in housing stock has slumped from 12% to 4.5% (source: Intermediary Mortgage lenders).
These days, over our lifetimes, the average person moves home 8 times, with a quarter of us moving up to 10 times. We only own 3.2 of these homes, because the figures include parental and rented accommodation. Naturally, we tend to move more often when we are younger, until we settle into a ‘forever’ family home.
It means our typical home lives now look something like this: as a child, we are likely to live in one or two different family houses. The high cost of accommodation means we leave home far more slowly than we used to, but from 18 onwards we begin flying the nest. Mostly, our first taste of freedom is in a rental property and we will probably live in 3 or 4 rented homes before we buy. During this period we are likely to meet our life partner (average age 27) and some of us will get married (age 32 for men and 30 for women). When we hit 37 we buy our first property, which will be a flat costing approximately £177,601 (considerably more for Londoners).
In order to save enough money for a deposit, a number of us may have to move back home for a while - 3.3 million 20-34 year olds are said to be currently living at their family homes (source: ONS). In addition, by this time, there may be babies involved too, because most babies are born to mothers between the ages of 30 and 34. This is some time before we buy our first property, so it is unsurprising to find that a number of women are having children much later. Conception rates between 35 and 39 year olds have doubled since 1990 and women graduates now tend to have their first child aged 35.
With the UK birth rate hovering around 1.9 per couple, there is a good chance there will be even more children involved by the time we hit 41 and, rapidly running out of space, this is when we take the plunge and trade up to a 3 bedroom, terraced house. Many of us will move once or twice in the interim period, most often as a result of a change of employment, divorce/separation or either improving or deteriorating finances. By the time we are 60, the nest is empty (but not always) and we begin to consider downsizing. At this point in our lives, we no longer need the space. We want to reduce our overheads and perhaps give some money to our offspring to help them get on the housing ladder. The optimum time for downsizing is reputed to be 64, when many of us will trade in our 3 bedroom terrace for a bungalow or maybe a cheaper property by the sea.
Since it takes 25 years to pay off the mortgage, the bulk of us will finally pay it off when we are 67. We will then have 14 years free from the tyranny of those nasty monthly payments before we pass on to the next world, aged 81, and our homes go back on the market for the final time.
Whatever your stage in life, whether you’re trading up or down or just wanting to move on, we at Homesite can help you find the perfect home in:
#NottingHill
#Bayswater
A LOOK AT INTERIOR DESIGN WITH JIMMIE MARTIN
I popped down to Jimmie Martin's a few weeks ago to say hi. As Notting Hill estate agents, we walk past their colourful shop window quite a lot while out and about on viewings, so I wanted to find out more about this creative duo and their work.
What makes them exciting is that they take vintage furniture and bring it in the modern-day, wrapping it in their signature Avant-guard style. This is revamping at its best!
They have created pieces for superstars like Madonna, who made her grand entrance to the American Super bowl, rocking one of Jimmie Martins majestic thrones. Other pieces include furniture for a number of celebrities like Kylie Minogue and a vintage chair for Jamie Oliver's charity gala, decorated with Jamie's special Victoria sponge recipe. I love it! (the chair, and Victoria sponge!)
I walked into their boutique on Kensington Church Street, a street renowned for its antique art and furniture shops. Nestled among Oriental antiques and furniture from eras past, this shop, with its splash of colour, is ideally located among the antiques and art of Kensington.
I was greeted by Jimmie, who immediately invited me to take a seat on one of their funky spikey chairs; a Victorian piece brought back to life and style by their creative design. And, yes…it has spikes on the seat, the artwork on the backrest states' love hurts' which made me smile. I happily obliged. Taking a seat, I discover the spikes are softer than I thought, I contemplate that actually love doesn't hurt that much, at least not today! In fact, it feels full of fun!
The shop is strewn with furniture, or should I say artwork? It feels like both — large unique statement pieces, soft furnishings that will make you grin as you meander around your own home. I wanted to find out more, so I grabbed Jimmie for a chat to find out more about how this all came into being.
Q: How did your unique style and design come about?
A: I've always had a love of antiques, art, and fashion. It started when we had our first flat in London. We bought some old vintage pieces that nobody wanted. Everybody wanted modern, minimalism style at the time. We revamped the pieces for our flat because, at the time, we couldn't afford new furniture, but we really wanted to have some fun and colour in our space.
It started with an old chair that we had found in a charity shop. We redecorated it and displayed it in the window of a hair salon in Soho. Much to our surprise, we received a call from the Design Decoration award telling us that we had been shortlisted to become the best new designer in the UK! We won the award, which was amazing for us. That was 15 years ago and the beginning of an incredible journey.
Q: What inspired you?
A: Years ago, when I first arrived in London, I worked as a bellboy at the Sanderson Hotel. I was inspired by Phillip Stark's design. This led me to create fresh designs on old pieces.
Mixing luxury and vintage with street art and fun is a mix of my background and experiences. We love bringing things back to life; some of the frames we use are over 100 years old. Every image on our pieces is hand-painted.
Q: Your work is very unique, and maybe a little controversial. How do you feel about that?
A: We know it's not for everybody. Some people love it, others don't, and that's fine. Like a lot of art, it creates a reaction whether one likes it or not. It makes people pause to look, to think and feel.
We have some wonderful clients which include celebrities and royalty. They appreciate art and want something a little bit different, and this is what we are about, something original, fresh, with vintage style.
There are plenty of styles for everybody, if our art and furniture are loved by some and not all, that's fine. Do what makes you happy! Being innovative is also about, playing, breaking the rules, and balance. We would like to think we are part of this movement of contemporary interior designers.
Q: I'd love to know more about your interior design work.
A: It's like painting a 3d painting for the client.
Interior design does not have to be neutral or linear. Homes don't need to be boring and only functional. We mix colours, artwork, textures, and different styles to create a warm environment for the person or family living there — one which embraces their character. I believe home is such an essential part of our environment, mood, and personality.
Your home is very much about physiology. If you feel amazing at home, it can transpire into your life. Colour and texture in your living space will make you feel good, you can enjoy it from different angles, always seeing something quirky, which makes you feel joyful.
I'm designing it for the client to think 'wow this is my home.' But also, to create a space you can come home to, put your feet up on the table in total comfort and style. We all want something different, unique, and funky to cheer up our space. Coming home and seeing things that make us smile every day gives us an element fun, so we can take it out into the world and feel happy to return home.
Jimmie’s Passion is evident. It's chic, sophisticated design with a double dose of fun and personality. Personally, I felt that I was looking at some sort of Banksy artwork in interior design form, they all had a message, cheeky or cheerful, hand-painted into vintage pieces of furniture, ready to inject joy into your home.
You are not just taking home a piece of furniture. You are investing in a piece of art that will make you smile for as long as you have it. You can also extend this feeling to your home with Jimmie Martin's interior design creation. A bespoke service where you will have the privilege of having the guys come over and create something truly unique that will make your home feel super special. As I sat with Jimmie, I thought of how much I would love this happy, creative and colourful designer to come and make my home a joyous, bright and inspiring place to be, and definitely with one of those controversial spiky chairs; for the mother in law (Jimmies words, not mine J) You can get in touch with Jimmie and Martin to see more of their unique furniture and discuss interior design options for your home.
https://jimmiemartin.com
PEOPLE IN OUR COMMUNITY - A RIDE FOR CHARITY
Over the summer months, we decided to catch up with some of the people in our local community. We work and live side by side and in the rush of London life, sometimes forget to stop and have a chat. So I decided to stop by and have a coffee with Marcus Roberts from Daylesford, Westbourne grove.
Some of you may already know this bubbly and joyful character who embarked on a charity bike ride across Croatia to raise over £400,000 for The Felix Project. By himself, Marcus raised a fantastic £38,000. But the best bit is how his infectious passion and personality led to some big names joining him on his mission. If you haven’t yet heard about The Felix Project, it is an amazing charity which works hard to stop food poverty. They campaign and work alongside restaurants and supermarkets to ensure that food does not go to waste but goes to those who need it.
Marcus tells me a bit about his own journey to being passionate about food for wellbeing and we talk about health, nutrition and healthy living. The Felix Project distributes food through a wonderful team of dedicated volunteers to people who are homeless, shelters, food banks and individuals or families in need.
Marcus tells me that he didn’t ride a bike before this challenge presented itself and now with increased fitness, rides to work most days. He is also amazed and humbled by how much of a snowball effect his enthusiasm has had on unsuspecting locals, particularly one who had just popped into Daylesford for their morning coffee and somehow ended up on a plane to Croatia! By talking to customers and colleagues, Marcus managed to persuade most if not all of the regular customers to sponsor him and even talked Julien Macdonald into participate in the charity race!
This is real community spirit and we love that Notting Hill has this feel!
On the 26th of June, over 50 riders set off for Croatia to complete this charity bike race, including some of the UK’s well-known names who support and stand by The Felix Project and it’s amazing work.Here’s what happened, in Marcus’s words, after completing the race. Well done Marcus, thank you for sharing your journey and passion. Fantastic work!
"On the 26th of June Ben Elliot co-founder of Quintessentially, legendary British Fashion Designer Julien Macdonald, and I flew off to Croatia on the 11th Annual Quintessentially Foundation Charity Bike Ride which was this year sponsored the Marc Group and in partnership with Velusso in aid of The Felix Project with a team of 50 other cyclists.
Landing in Zagreb Croatia during one of the hottest heatwaves ever recorded in Europe with temperatures in France reaching up to 45 degrees, the team of determined men and women who were prepared to give their all to support The Felix Project by cycling for 300 miles from Zagreb to Split to try to raise as much for them as possible.
Starting out on the first stretch of open road on day one, it was 5:30 in the morning and the team had decided to start us all off early because of the extreme heat so that we were out of the midday sun for as long as possible. Straddling my bike, it felt satisfying as I clicked my SPD shoes into the pedals and set off with the team about to start the adventure of a lifetime.
Riding alongside Ben Elliot, who founded Quintessentially Foundation and people like Jasper Boyton, George Frost son of legendary broadcaster Sir David Frost and Simon Jackson and Lord Jeffery Archers son James Archer, who were all extremely fit and regular professional cyclists, I felt on top of the world and so proud of how far I had come in my fitness journey. After a few hours, it all got too much and I slowed down to settle in with a group of other cyclists further in the back of the pack. Keeping up with super fit Ben, just wasn’t sustainable!
As the second day approached we were all feeling a bit sore and it was starting to sink in just how difficult this trip was going to be. Climbing up a massive hill in 37 degree heat, I kept pushing myself through the sweat and exhaustion until I couldn’t anymore more and was physically sick and had to get in the back of the van for half an hour. After lunch I was feeling better and was out on the road again, eager to be getting those miles under my belt.
One of my personal highlights was when exhausted and tired after cycling for miles in such hot weather, Julien Macdonald came whizzing by on his bike, shouting, “get up Marcus, we can do this, jump back on ya bike and follow me”! With loud 80’s discos music blasting from some speakers on his bike. So I did. And we cycled together for miles on end with the tunes blasting and our spirits feeling lifted by the music, giving us the energy we needed to keep going and carry on.
On the last day as we were all cycling down a massive hill on the final decent into the port of Split, I was going over 60 miles an hour, speeding alongside cars and trucks, with their horns blaring, constantly afraid one would accidentally swerve and knock me off the sheer cliff face, but at the same time excited and never feeling as alive as I had in my whole entire life.
Arriving at the finish on beach in Split, after cycling for 300 miles across Croatia in the searing heat during one of the hottest recorded heatwaves in Europe, I collapsed as I got of my bike and walked up to the finish line to collect my medal. Feeling exhausted, tired, sore and with extreme swelling and pain, I was absolutely shattered, but also very proud that I had managed to do it and at the same time somehow managed to personally raise over £36,000 for The Felix Project on my Virgin Money Giving Page at the same time.
Special thanks to Leonora, George, Alice and Lord and Lady Bamford for their encouragement and consistent support. George Osborne, Nick Jones, Liv Tyler, Poppy Delevingne, Suki Waterhouse, Geordie Grieg, Steven Knight, Nick Compton, Miel Debotton, Tom Parker Bowles, Janet Debotton, Lord Greg Barker, Marlon Abela, Giles Coren, and so many of the regular customers at the Daylesford Organic Farm Shop on Westbourne Grove, Notting Hill where I regularly work, for their extremely kind donations and sponsorship.
The event was a great success and raised over £410,000. The funds raised will support the work of The Felix Project who are fighting food poverty and food waste across London. Every week The Felix Project rescues 30 tonnes of high-quality food, which is distributed to over 250 charities and schools across London.
Ben Elliot himself via his Quintessentially Foundation has helped raise over £2 million for The Felix Project over the last 2 years with high profile fundraising events such as the bike ride and the yearly much loved Christmas Carol Concert the Fayre of St James which is held in November in St James’s church Piccadilly.
Some people talk the talk, but Ben really walks the walk too, there’s no better person that Michael Gove could of chosen to be the nation’s Food Surplus and Waste Champion and it’sfantastic to see him in action as he steps up to the plate in the fight against food waste".
““This year's Quintessentially Foundation Annual Charity Bike Ride was in support of Britain’s most dynamic new charity The Felix Project, that is at the forefront of the fight against food waste. A cause very close to my heart as the governments Food Surplus and Waste Champion. The money raised from the bike ride will be enough to fully fund their Central London operations for the next 2 years. Myself and the whole team at Quintessentially Foundation couldn’t be more proud.” Ben Elliot.
“I’ve always been a b
ig fan of Daylesford and the delicious range of organic food they sell which they grow themselves on their farm in Gloucestershire. I particularly like their organic coffee which I regularly come in to get on most mornings from the store on Westbourne Grove which is handily located just round the corner from my studio on Ledbury Road and am served by the ever cheerful and welcoming Marcus who persuaded me to take part in the recent Quintessentially Foundation Charity Bike Ride to support The Felix Project.” Julien Macdonald
Written by Ma
rcus Roberts, Relationship Manager for the Felix Project.
You can find Marcus at Daylesford on Westbourne Grove 3 days a week, the rest of his time is spent supporting The Felix Project.
You can find out more about The Felix Project and how you can help here
THINGS TO DO IN AND AROUND KENSINGTON
As local estate agents, it is easy to fall in love with the charm of the area in which we work. From the north to the south of Kensington, it is plain to see that its charisma and history is felt through its buildings, shops and its beautiful period properties.
A stroll away from Notting Hill Gate, to the south of the borough, lies Kensington. This part of Kensington and Chelsea has a traditional feel. It is quieter than Notting Hill and Bayswater but still has a life of its own that is grounded in its own rhythm. It’s a slightly more family orientated area and has retained some of its larger houses and more relaxed feel. That said, Kensington has a lot to offer and is not short on nightlife, eateries as well as places for the whole family.
Once a vibrant and bustling high street, home to some of the largest retail names including the giant Barkers department store and the world’s most beautiful Biba store, nowadays, Kensington has a more relaxed atmosphere. There is still a great choice of retail shopping, but this pretty high street has become well-known for its cafes and restaurants. High St Kensington has retained its charm and has some longstanding resident eateries that have stood the test of time and popularity.
One of Kensington’s long term restaurants is Bill Wyman’s Sticky Fingers. This American style eatery has been a resident since 1989. Established by Wyman, the legendary Rolling Stone’s bass guitarist, it is still a firm local favourite. It has a Hard Rock café style yet has a more personal feel. It’s a popular choice, has some fun nights and is a great choice for the whole family. Barbecue wings and burgers will indeed leave you with a full stomach and sticky fingers as you appreciate the walls of photo framed rock stars set in time across the walls.
A unique place worth mentioning is the Unique Kensington roof gardens. Owned by Richard Branson’s Virgin Group, the iconic rooftop garden consists of over an acre of green space which towers 150 meters above street level. The former night club and restaurant occupied the top two floors of this beautiful grade II listed art deco building, which has now closed its doors to restore the space to renew this unique setting. The garden hosts to a variety of fawn and flora; this includes its iconic resident flamingos and ducks who have now been relocated to a sanctuary. In terms of nature, it is home to 70 mature trees including oaks and fruit trees. The Garden is set to reopen at the beginning of 2020 where you will be able to enjoy amazing uninterrupted views across London.
One of the most impressive food courts in London is Wholefoods, the first wholefoods store in Europe store which took over the premises of the former Barkers department store in 2007, and it still holds prime position on Kensington High Street. There is no lack of choice here, this health food store spans over three floors and contains approx 80,000 square feet of organic food, including eateries such as Bone daddy and Sushi and Robata on the first floor. Alternatively, you can take your deli food upstairs or sip on your freshly brewed coffee while enjoying the view over High-Street Kensington. Ranging from its cheese room to nuts, coffee beans, precooked food and a beautiful colourful section of fruit and vegetables to choose from, there is really nothing you cannot find here. They have a great selection of every health product you could desire. Did I mention the huge choice of organic chocolate bars of all descriptions?
Kensington High street is well positioned for green spaces in Central London, at each end of the high street, there is a beautiful park to enjoy. At one end, you can walk through Kensington Gardens, take in the sights of the Palace or stroll along towards the Albert Memorial (picture), towards Knightsbridge and Central London. At the other end of the High Street, you can find the ever popular Holland Park which is the Royal Borough of Kensington and Chelsea’s largest park and spans over 22 hectares. The park has a variety of green areas including a football, games green, tennis courts, children’s play area, an ecology centre, and wild forest walks. It is also home to the beautiful and serene Kyoto gardens, the park’s Japanese garden which was gifted by the chamber of commerce of Kyoto in 1991 from which the London garden takes its name
To see more about the activities at Holland Park, you can visit the borough’s website:
https://www.rbkc.gov.uk/leisure-and-culture/parks/holland-park
Kensington church street winds its way up to Notting Hill Gate passing a number of antique shops which have clustered there over time. Some of the worlds most renowned experts are based here, offering a variety of art and antiques from different eras and from across the globe. This high concentration of registered and approved art and antique shops created a circle of authenticity and gave the road a reputation for quality fine art and antiques.
For a little bit of British traditionalism, one can meander through the quieter side streets. I love to walk through Church Row, stuck in a period of its own, this little row of quaint shops sells items such as suits, cuff links, ladies’ hats, and bow ties. It’s a step back in time and a pleasant moment of repose from the busy streets of Central London.
Further to the south of the borough, fringing the river Thames, Chelsea is well known for vibrant Kings Road, famous for being a fashionista’s hang-out in the ‘60s, and punks congregated during the ‘70s. It has preserved some of its individual designer boutiques. In more recent times, it has featured in Made in Chelsea, and the Saatchi Gallery has made its home there. Its local residents include the popular Bluebird café and the iconic art deco design Peter Jones department store.
There is plenty to do in and around the area and for central London has a softer pace with wide sunny roads. South Kensington is also home to the world famous Royal Albert Hall for some of the top cultural events to see. A stone's through away is Exhibition road which is home to some of the UK’s most visited museums including the remarkable national History museum.
HOUSE PRICES GREW AT A STEADY RATE IN NOVEMBER
House prices grew at a steady rate in November, but growth has almost halved over the past year.
House prices grew by 2.5 per cent year-on-year in November, according to Nationwide's house price index, the same rate of growth recorded in October. This is a sharp fall in growth from a year ago, when annual inflation stood at 4.4 per cent.
The average price for a home was £209,988, up from £204,947 in the same month last year.
Robert Gardner, Nationwide's chief economist, said: "Low mortgage rates and healthy rates of employment growth are providing support for demand, but this is being partly offset by pressure on household incomes, which appears to be weighing on confidence. The lack of homes on the market is providing support to house prices."
In the Budget, Philip Hammond sought to help first-time buyers by handing them a stamp duty holiday on purchases worth up to £300,000.
Nationwide said the policy will only have a modest impact on demand, because in many parts of the UK first-time buyers are purchasing properties worth less than £125,000, which was the level of the previous threshold for stamp duty.
However, in London, where first-time buyers will not pay stamp duty on the first £300,000 on purchases of up to £500,000, the average stamp duty paid has fallen from £13,102 to £9,778.
SOURCE: CITY A.M