By Stephen Johnson, Economics Reporter For Daily Mail Australia
03:41 17 Mar 2024, updated 03:42 17 Mar 2024
A property investor who once lived in rented granny flats but now enjoys a $6million waterfront home has shared his top advice for young Australians trying to enter the tough housing market.
Daniel Walsh, 33, bought his multi-million dollar house near Palm Beach on Sydney‘s northern beaches last year.
The married father-of-one also owns a Lamborghini Huracan and a 50-foot yacht on top of his $20million real estate portfolio, which includes $14million worth of 19 investment properties that are rented out in Sydney, Melbourne, Brisbane, Adelaide and Perth.
But instead of saving up for a mortgage deposit to buy the ultimate property, Mr Walsh started his investment journey by buying a four-bedroom house at Thirlmere, 95km south-west of Sydney for $324,000.
He was able to save up and buy more properties by using the rental income and borrowing against the value of the other houses to keep expanding his portfolio, as high population growth pushed up real-estate values.
He and his wife, Sophie, also lived in rented granny flats until he was 28, when he switched to a house.
‘I was living in a granny flat, instead of living in a house and paying heaps more rent,’ he told Daily Mail Australia.
‘My wife and I could then save more money to put towards houses – we did that right up until I was 28 years old.
‘I was always about delayed gratification.’
He also said the narrative of young people not being able to afford a house was damaging, even though the median house price in major cities is beyond the reach of most.
‘People need to change the perspective of saying it’s just too hard,’ Mr Walsh said.
‘If you see my journey, I bought two properties two hours out of Sydney and then I couldn’t afford Sydney in 2012, so I had to go to different states.’
The former apprentice auto electrician and freight train driver, who left school at 15, said too many young people made the mistake of saving up a 20 per cent mortgage deposit for a desirable home in a nice suburb.
‘They’re saving up money to buy their owner-occupied dream home and then when you find out – especially if you’re in more expensive capital cities like Sydney – they’re trying to acquire a $1.5million to $2million house,’ he said.
‘They are saving up money but by the time they save their money, property prices keep going up so they’re saving for a decade to try and get into their first property.’
Mr Walsh, the founder of the Your Property Your Wealth buyers agency, said when he couldn’t afford a house in Sydney, he bought homes in affordable outer suburbs of Melbourne, Brisbane, Adelaide and Perth that were in commuting distance of the city centre.
‘I was focused on smaller, investment properties – buying houses for $400,000,’ he said.
‘I do like to have commutable distance to a large CBD if I can.
‘Typically, I want to buy houses in the outskirts because as population grows, most people are generally chasing houses to settle down in with their families.
‘By buying the affordable stuff, then the properties keep going up in value as the population keeps moving into those areas.’
Mr Walsh didn’t buy his first house to live in as an owner-occupier until 2021 when he bought a home at Camden, in Sydney’s south-west, for $1.35million – selling it two years later for $1.85million.
‘Up until then I “rentvested” my whole journey,’ he said.
Someone on an average, full-time salary of $98,218 could only buy a $639,000 with a 20 per cent mortgage deposit.
This is well below Sydney’s median house price of $1.396million, Melbourne’s mid-point of $942,779 and Brisbane’s $899,474, CoreLogic data showed.
But there are pockets of value 25km to 55km away from the city centre if you look beyond Sydney.
Frankston North has an affordable median price of $596,656 and is 55km from Melbourne’s city centre.
‘To a degree, Melbourne is undervalued right now – prices are pretty affordable in the outer suburbs,’ he said.
This suburb near Port Phillip Bay is also near much more expensive suburbs and has scope to gentrify despite having a higher unemployment rate.
On either side of Brisbane, there are suburbs in Logan including Slacks Creek, where the median house price is $653,257, despite being just 25km from the city.
‘When you look at Logan, for example, economically, population, everything’s very super strong around there – you’re halfway on the motorway between Brisbane and the Gold Coast,’ he said.
In the Moreton Bay area Deception Bay, 46km north of Brisbane, has a mid-point house price of $634,325.
When it comes to buying in outer suburbs, Mr Walsh advised against purchasing a property in areas such as Broadmeadows in Melbourne’s north, pointing out tenants would be less reliable.
‘I’d be careful about going too rough – there is just too much housing commission,’ he said.
He also advised against buying in a location with an older population like Bribie Island north of Brisbane, arguing areas like that had weaker economic growth.
‘I probably wouldn’t go Bribie Island: too many retirees, it’s not really an economic centre,’ he said.
Instead, he advised prospective buyers to focus on buying an investment house – but not a unit – where there was likely to be population growth.
‘I’m always looking at where people are moving and I’m always cross referencing the number of building approvals versus the population that’s moving in,’ he said.
‘If I can see 100,000 people moving into an area but I can see only 20,000 building approvals in a state for example, I know that supply is going to be getting harder and harder.’
A record 518,000 migrants moved to Australia in the 2022-23 financial year.
This meant capital city house prices rose by 11 per cent in the year to February, despite the Reserve Bank in November raising interest rates for the 13th time in 18 months, taking it to a 12-year high of 4.35 per cent.
Sydney’s median house price rose by 11.7 per cent but in Perth, a recipient of interstate migration, values surged by 18.6 per cent to a still relatively affordable $718,560.
In January, Mr Walsh’s new book Six Principles to Retire Younger and Richer was published by Major Street Publishing.
Features that can devalue a home are not always obvious and buyers can feel like they’ve missed out if problems are flagged after listing.
Property experts have shared six things that could knock thousands of pounds off the selling price of your home, but luckily some things can be easily fixed before listing.
Unmodern Property -£12.239
An out-of-date property can knock the value, according to the experts, but it is often one of the easiest things to fix. Redecorating does not need to cost a lot, but it can add value to a property.
However, it is worth noting large renovations may be needed for homes that are particularly run down and updates like that can be costly.
An unmodern property could cause sellers to drop their offer
GETTY/PA
Experts said: “While it may be the least severe sign you have a problem property, an unmodernised home can still see you take an asking price hit when entering the market. Unmodernised homes typically need new bathrooms or kitchens, or a high degree of decoration, but in the worst cases they may have no power or running water.
“An unmodernised home is thought to devalue a home to the tune of 4.3 per cent, which equates to £12,239 in the current market.”
Subsidence -£56,938
Experts at Open Property Group said subsidence issues could devalue a home the most as structural damage can really deter a buyer. While it will require the most work to fix, experts suggest it could make the biggest difference to the price.
They said: “Structural issues of any kind can prove extremely problematic when it comes to selling your home. Cracks in the foundation or other issues can immediately deter buyers, or if it doesn’t, see them offer around 5.3 per cent less for your home.
“However, subsidence is by far the worst of the lot and indicates major structural issues that are sure to send potential buyers running for the hills. If they don’t, then selling a home with subsidence is likely to see you do so at a discount of 20 per cent.
“That’s a huge £56,938 on the current average UK house price.” While this is not an easy task, it is usually fixable so Britons could benefit from looking into this before listing their home.
Short lease -£42,704
Britons selling leasehold properties should check how long is left on the lease, and consider extending this if the date is near.
Experts said: “Not all signs of a problem property are visible during the viewing process. A short lease can be a real deterrent to potential buyers due to the time and cost involved in renewing it.
“It’s always best to renew your lease before it reaches 80 years or below and allowing your home to become a shore lease property can knock an average of 15 per cent of the value – a hit of £42,704 in the current market.
“However professional valuation advice from a chartered surveyor is fundamental as the figures can range significantly depending on the unexpired term, property value, ground rent and any usual features such as development potential.”
Britons who discover they have a “problem property” should aim to fix this before listing in order to get the best price. Alternatively, they could consider selling by auction.
LATEST DEVELOPMENTS
Britons are warned of things that could devalue their homes
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CEO of Open Property Group Gason Harris-Cohen shared advice. He said: “No one wants to be lumbered with a problem property, particularly in the current market where buyer demand levels have dropped and potential buyers can afford to be far pickier.
“There are a whole host of reasons you might find it hard to sell your home, but while some will ultimately depend on buyer preference, we’ve highlighted [some] that are sure to see you struggle.
“Of course, the alternative is that you take a sizable hit on your asking price in order to secure a buyer, but it’s always advisable to get your home fit for market as the majority of buyers won’t want to take the risk.
“If you are in need of a quick sale and don’t have time to tackle a major issue… there are other options available to you. You could look at a property auction, although you do run the risk of achieving a far lower price depending on the mood in the room on the day.
“Or you can opt for a quick sale specialist, who will accurately value your home, warts and all, while also providing you with a concrete timeframe in which to complete your sale.”
As someone sensible once said, predicting property prices is a great way to make psychics look reliable. But once a year, the risk of getting it wrong is always low… spring.
Spring officially begins on March 20 – and it is the moment we always start to see green shoots and to see the property market begin to improve noticeably.
Why? It’s a combination of reasons. Of course, the weather is a big factor. Warmer days and longer evenings entice buyers out of winter hibernation.
Thoughts turn to making a move now to enjoy a new, bigger garden or to be nearer a new school in time for September’s new term.
Spring could bring green shoots to the housing market
GETTY
This happens every year, whatever the market conditions. We are coming out of one of the worst seasons for anyone hoping to sell.
But this year it looks set to be a spring market like we haven’t seen for a while. Don’t expect the buying frenzy of 2021 but it will be the closest to it we’ve seen for some time.
Lloyds Banking Group has revised its house price forecasts, now anticipating softer price moderation throughout 2024 than was anticipated a few months ago.
A -2.2 per cent decline is now projected, with the possibility of returning to positive growth next year; these revised forecasts reflect a more optimistic outlook for the housing market.
Yet recent statistics compiled by Rightmove show that the average new seller’s asking price experienced a 0.9 per cent rise between January and February.
The average prices are now up by 0.1 per cent year-on-year, marking an uptick in market confidence. This increase follows a period of annual declines since August 2023, suggesting a potential turning point in the market.
Data from Moneyfacts also reveals that average rates on both two-year and five-year fixed-rate mortgages have fallen for six consecutive months.
A host of lenders are offering rates below five per cent and even four per cent, whereas in November 2023 no lenders offered fixed rates below this level. Mortgage rates are expected to remain within the four per cent to five per cent range, potentially moving a little lower over 2024.
It all points towards a more balanced and active property market compared to recent months. With increasing buyer demand, improved supply levels, and more favourable mortgage rates, we are cautiously optimistic about the year ahead.
I fully expect that by June we’ll be reading news about house prices going up and the shortage of homes becoming more acute.
LATEST DEVELOPMENTS
Jonathan Rolande shared his expertise
JONATHAN ROLANDE
Of course, there are many events politically that could blow things off course, but if they do not we have a combination of events that look set to ignite the market once again.
I have already mentioned the spring bounce. But this year we also need to factor in other positive influences.
We’ve had a number of months with no increase in base rates. There is the likelihood of bank rates reducing soon. We’re seeing pent-up demand from buyers who have taken a ‘wait and see’ approach for the last year or two.
The mad situation in the lettings market means there are too few homes, and rents are at all-time highs. Many who can now buy, will do so to avoid renting.
Fewer properties are being built as developers became nervous last year and cut back on many new building, reducing expected supply. The UK economy has grown slightly, defying the expectation of many. And the cost of labour and materials has eased making it more viable to carry out improvements to a new home.
Taking all this into account you don’t need to be a scientist to work out that as we move from winter into spring the housing market, like the weather, is going to be heating up.
A high profile Auckland real estate agent has been given a formal warning by her employer after posting a TikTok video of herself giving a sales pitch using a fake Asian accent.
The award-winning Ray White real estate agent Linh Yee, who is of Asian descent, also said in the video that she will do cleaning and cooking for potential buyers.
The video circulated for more than a week before it was removed, following a complaint.
While Yee spoke fluently in an official video promoting a Sandringham house, she took on a different persona in a TikTok video marketing the same property, where she called herself “Lingling” and affected an Asian accent.
The video showed Yee walking through the property, offering to do a range of household chores for potential buyers – including sweeping the deck, and crouching down to clean the floor.
“You pay me good price, I also get dirty for you, see – I clean,” she said.
She also wandered to the kitchen and said: “And when I sell your home good price, I also make you good dinner, see, peanut butter jelly, I make for you”.
The video ended with the agent saying “love you long time” – a line from the movie Full Metal Jacket in which a Vietnamese sex worker solicited American soldiers.
An Auckland woman who complained to Ray White said she felt deeply offended by the video.
“I feel like what she was doing really proliferates stereotypes against South-east Asian women, and as someone who is of Asian descent, it was just really disappointing and sad to see,” she said.
The woman – who did not want to be named – said it normalised racism.
“This is leading to more acceptance and apathy on normalising racism in our society, and it is quite disappointing to see that Ray White doesn’t really have any formal procedures and policies for their real estate agents, to basically be posting anything they want in social media,” she said.
She said she felt there was a wider issue of racism in New Zealand, and that it was a “dark underbelly of our culture” that was not being talked about enough.
Yee would not do a recorded audio interview, but told RNZ she had no idea how much the video would offend people.
“I’m so embarrassed about what’s really going on, I’m still letting it sort of absorb in, I really, really didn’t even have any idea how much this is actually gonna offend people, when all I was doing was mocking and teasing myself,” she said.
She said on reflection she realised speaking English with a fake Asian accent was wrong and had taken down the video.
“My intention was never to cause harm or discomfort to anyone, but rather to share a light-hearted moment of self-expression and humour. However, I now understand that my actions were culturally insensitive and perpetuated harmful stereotypes,” she said.
Linh Yee said she was “truly sorry”.
“Moving forward, I am committed to educating myself and being more mindful of the impact of my words and actions. I understand that words alone cannot undo the hurt caused, but I hope to demonstrate through my future behaviour a genuine commitment to learning and growth,” she said.
Ray White Epsom director Nick Lyus said Yee has been given a formal warning about the video, which was taken down as soon as the company was made aware of it.
He said the company was committed to giving all its employees cultural sensitivity and anti-discrimination training.
Ray White said it did not vet all its staff’s social media posts, but did monitor them regularly.
Britons selling a property will want to make sure they get the best price while selling within a reasonable amount of time.
Data has shown the UK cities where homes are most likely to sell based on the volume of properties sold between December 2022 and December 2023.
Despite having the most expensive properties, more houses were sold in London than anywhere else in England, according to analysis by full service estate agents Yopa.
The research found nearly 50,000 London homes were sold during the 12 months period, which made up nearly 50 per cent of all home sales in England last year.
House in London have the highest prices
GETTY
Cities where most homes sold in 2023
London – 48,378 transactions
Manchester – 19,699 transactions
Leeds – 6,183 transactions
Birmingham – 5,875 transactions
Bradford – 4,022 transactions
Sheffield – 3,901 transactions
Bristol – 3,775 transactions
Liverpool – 3,083 transactions
Newcastle – 2,113 transactions
Leicester – 1,454 transactions
While there is no way to guarantee a home will sell quickly, those listing in London might have the best luck.
Property prices in the capital decreased the most during that time period, dropping 4.8 per cent, but they were still the highest in England.
The HMLR House Price Index found London homes sold for an average of £508,037 by December 2023. This is more than £140,000 above the average house price in the second most expensive location, Bristol (£363,799).
Average house prices in English cities December 2023
London – £508,037
Bristol – £363,799
Leeds – £241,328
Leicester – £234,997
Manchester – £231,754
Birmingham – £228,877
Sheffield – £212,356
Liverpool – £174,603
Bradford – £173,726
CEO of Yopa Verona Frankish commented: “We’ve seen higher interest rates dampen the purchasing power of the nation’s homebuyers over the last year and this has naturally led to a reduction in house prices, particularly across major regional cities where homes command the highest price tags.
LATEST DEVELOPMENTS
Research shows more homes sell in London than elsewhere in England
PA
“With London homes having the highest house prices in the nation, it’s no surprise that cooling market conditions have seen the average London house price fall by the greatest margin.
“However, topline house price performance doesn’t necessarily reflect the overall health of the market and while London may have seen the most significant correction in house prices, it remains by far the busiest major city where actual buyer activity levels are concerned.”
This comes as the most affordable place to buy in the UK was shared and is a spot with “beautiful open spaces” and houses for £103,000.
We are all geniuses in retrospect. Still, we can confidently say predictions of a housing market slump in 2023 were very wrong. Interest rates rose to levels not seen since 2008, but the housing market remained surprisingly sturdy.
First, we should give the forecasters some credit. House price data is a fiendishly tricky thing, and not everyone is on about the same numbers. The Office for National Statistics (ONS) measures prices at completion; Halifax and Nationwide use data from their mortgage customers; Rightmove measures asking prices; and Savills measures house value, which ignores transactions entirely. Still, the consensus assumption from many experts was that over the 12 months to the end of 2023, house prices would sink between 5 and 10 per cent by some metric or another.
Admittedly, the 2023 calendar year is an arbitrary window for forecasting or recording data. Still, the slump did not happen. Not even close. Nationwide ultimately recorded a 1.8 per cent fall in prices in 2023, the ONS said 1.4 per cent, Rightmove 1.1 per cent, Savills said house values dropped a mere 0.3 per cent, and Halifax said prices rose by 1.8 per cent. For housing forecasters, 2023 was a predictive error equivalent to the Brexit vote, or Donald Trump’s presidential win. An anomaly they should have seen coming but did not.
In theory, rising interest rates hit buyers and owners alike. The former can no longer afford higher house prices because mortgages are more expensive. Meanwhile, many of the latter are forced into selling because they can no longer afford their mortgage.
Yet in 2023, owners held onto their homes because many more were on fixed-term mortgages than during the 2008 downturn, when variable-rate mortgages were much more popular. Rising wages and low unemployment, unlike in 2008, also helped them keep up with payments. So, even though buyers’ budgets shrank, sellers had less need to sell. The stand-off kept house prices as they were.
The numbers bear this out. IC analysis of HMRC data found that 2023 saw the lowest number of transactions in over a decade (see chart), and although mortgage arrears rose, they were nowhere near 2009 levels. In other words, most from the limited pool of sellers were not in dire straits.
The ‘I told you so’ award goes to the Joseph Rowntree Foundation (JRF), which outlined precisely how and why everything that happened would happen in a report from February 2023. In summary, its view was that all of the above combined with the persistent housing crisis keeping supply low would keep demand high even if budgets dropped.
But the JRF might turn out to be wrong, too. Bank of England data confirms that many homeowners will need to remortgage at higher rates between now and the end of 2026. As such, the central bank predicts monthly payments will rise to 9 per cent of post-tax income. It might not sound like a high figure to Londoners spending 35 per cent of their income on rent, but the figure is an average, meaning many homeowners will be in worse positions. It would also be the highest level since 2009.
Will this lead to a slump in house prices between now and 2026? Many of the same forecasters who were wrong about 2023 have revised their forecasts for 2024, anticipating anything from a 3 per cent drop to a 3 per cent rise. Your guess is as good as mine, but predictions of a significant fall have clearly tailed off.
Property is often an integral component of an investment portfolio for high-net-worth individuals. But building and growing such a portfolio requires specialist expertise.
In the Investment, Finance, Management and Private Office Service Providers Index, Spear’s presents those advisers who have access to the best investment deals and opportunities; innovative advice on financing and managing real estate projects; and experience in delivering return on investment.
Private office service providers, which are gaining in global prominence both as standalone entities and as organisations affiliated with large real estate firms, can serve as a one-stop shop for HNWs seeking to build and refine their property portfolios.
Names to know
The Spear’s Property Investment, Finance, Management and Private Office Service Providers Index 2024 is led by advisers in the Top Flight, including Richard Rogers of RFR and Marcus Bradbury-Ross of CBRE. There are also a couple of notable new additions to the index, introduced below. To view the full index, view the table below or visit Spears500.com.
Alex Greaves
Firm: Ridgestone Property
Ranking: Top Recommended
An experienced professional with over 20 years’ experience in the industry, Greaves previously worked for CBRE as a director. Earlier in his career, he worked for Harrods, Chestertons and Marsh & Parsons as a real estate agent.
In addition to working on institutional investment deals, he is well-versed in helping HNW clients to access prime trophy assets.
Read the full profile on Spears500.com
Edoardo Mapelli Mozzi
Firm: Banda Property
Ranking: Top Recommended
Mapelli Mozzi founded Banda Property in 2007 at the age of 23 after time spent ‘going to auctions with investors and buying properties and doing them up’ in between his university studies. While initially focused on property development and interior design projects in London, he has since expanded the firm into an internationally minded business, with a discreet, ‘end-to-end’ service for HNWs.
Read the full profile on Spears500.com
Methodology
In selecting and ranking property investment, finance, management and private office service providers, the Spear’s Research Unit conducts extensive research of the market, including interviews with well-informed observers, industry insiders and of course the advisers themselves. These take place both face-to-face, and on video and telephone calls. Candidates for inclusion are asked to fill in a form to provide data and a description of their work and client base. In finalising its selections and rankings, the Spear’s Research Unit employs a proprietary methodology that includes a weighted scoring system. This takes into account factors including an adviser’s standing, reputation, client base, recommendations and testimonials, the firm they represent, their level of engagement with the process and certain industry-specific criteria.
Best property investment, finance, management and private office service providers: the complete list
Click on the individual names to be directed to more detailed profiles of each adviser in the digital version of the Spear’s 500.
Find out more
To explore all the Spear’s indices, and to use our find-an-adviser tool to identify the private client adviser who is right for your specific requirements, go to the Spear’s 500 website.
To receive relevant research updates from Spear’s – and thereby give you and your firm the best chance of being included in future Spear’s indices – please register here. If you are an adviser featured in an index and would like to update your profile or provide additional information, please email research@spearswms.com. If you are not featured but would like to be, please fill out our form
An escape to the country is a dream held by worn-out urbanites the world over. Even the most cynical city-slickers would struggle not to be charmed by Britain’s finest country houses and estates, or enticed by the prospect of owning a slice of farmland.
Country property specialists are the advisers trusted by high-net-worth clients to invest in rural real estate, whether they want to upgrade their primary residence or expand their property portfolio with a second home or commercial venture.
‘It’s my job to know about every property that can be bought,’ one Top Flight adviser told Spear’s. ‘That way clients have access to the full market.’ This approach is typical of the best country property specialists, who rely on their vast networks and insider knowledge to show homes that aren’t on the open market.
From restored Elizabethan manor houses to innovative new-builds that remain sympathetic to their surroundings, the properties on offer are often one-offs that require just the right meeting of buyer, vendor, time and place – it is the job of the best country property specialists to orchestrate these moments.
Country specialists: names to know
Returning to the Spear’s Country Specialists Index this year are industry leaders including Jonathan Hopper, of Garrington, and Philip Harvey, of Property Vision, who both retain their Top Flight ranking. Among the 17 Top Recommended advisers is Jonathan Bramwell, of The Buying Solution.
There are also a number of new additions to the index. To view the complete list, see the table below, or visit Spears500.com for further details.
Jamie Freeman
Firm: Haringtons
Ranking: Recommended
Freeman works with private clients to secure their dream homes across the southern counties, including Surrey, Somerset, Dorset and Sussex.
Before joining Haringtons in 2014, Freeman worked for Knight Frank as a senior negotiator, and then within the firm’s specialist HNW buying agency, The Buying Solution. Freeman tells Spear’s fashionable buying areas for HNWs include Hampshire, Wiltshire and Berkshire — areas with exceptional schools and good train routes to London.
View the full profile at Spears500.com
Ben Horne
Firm: Middleton Advisors
Ranking: Recommended
As head of country buying at Middleton, Horne acts for private clients who are looking to purchase high-value country houses across the south-west of England.
Horne completed his first degree from the Royal Agricultural College and went on to serve in the armed forces before embarking on a career in property. Horne also holds a master’s degree in land management and wrote an award-winning thesis on how to improve energy efficiency in listed buildings.
View the full profile at Spears500.com
Gemma Maclaran
Firm: Middleton Advisors
Ranking: Recommended
Maclaran worked in investor relations in the City before deciding to change her career path and has since gone on to become an expert at locating prime property in the Cotswolds. Having grown up in the Cotswolds, MacLaran has a comprehensive knowledge of the area. This is certainly beneficial for her clients, as one recently told Spear’s, ‘Without her help we would never have known about the property or achieved the purchase.’
View the full profile at Spears500.com
Mark Crampton
Firm: Middleton Advisors
Ranking: Recommended
As Middleton’s specialist adviser for Surrey and Sussex, Crampton has acquired an unrivalled knowledge of the area, with more than 14 years’ experience in the sector. He told Spear’s he never takes on more than five or six clients at any given time, which enables him to deliver a dedicated service to each one.
View the full profile at Spears500.com
Methodology
In selecting and ranking country property specialists, the Spear’s Research Unit conducts extensive research of the market, including interviews with well-informed observers, industry insiders and of course the advisers themselves. These take place both face-to-face, and on video and telephone calls. Candidates for inclusion are asked to fill in a form to provide data and a description of their work and client base. In finalising its selections and rankings, the Spear’s Research Unit employs a proprietary methodology that includes a weighted scoring system. This takes into account factors including an adviser’s standing, reputation, client base, recommendations and testimonials, the firm they represent, their level of engagement with the process and certain industry-specific criteria.
Best country property specialists: the complete list
Find out more
To explore all the Spear’s indices, and to use our find-an-adviser tool to identify the private client adviser who is right for your specific requirements, go to the Spear’s 500 website.
To receive relevant research updates from Spear’s – and thereby give you and your firm the best chance of being included in future Spear’s indices – please register here. If you are an adviser featured in an index and would like to update your profile or provide additional information, please email research@spearswms.com. If you are not featured but would like to be, please fill out our form.
The expertise of a trusted property agent is invaluable during the complex, and often lengthy, process of buying or selling prime real estate. These advisers are at the centre of the transaction chain – connecting their high-net-worth clients with credible buyers.
When acting on behalf of HNWs, property agents are trusted not only with securing the best possible price, but also acting with discretion while guiding clients through the stages of the negotiation and sale. They are practised at untangling thorny issues and offering trusted advice.
Property agents are also essential for ensuring prime properties are viewed by the right sort of prospective buyers – they will have a network of wealthy investors and individuals on whom they can call, and are experienced at weeding out time-wasters.
The experts selected for the Spear’s Property Agents Index 2024 represent the leading lights in London, France, the Middle East and US. Their portfolios include some of the finest real estate around the world, from Mayfair trophy homes to sprawling villas on the Côte d’Azur.
Best property agents: names to know
Two property agents have been promoted to Top Flight, the highest ranking given to professionals in the Spear’s 500: Edward de Mallet Morgan, a partner in Knight Frank’s international super-prime sales team who works closely with the firm’s private office, and Marcus O’Brien, who was leader of Beauchamp Estates’ formidable private office team before moving to Sotheby’s International Realty‘s greatly expanded London office in late 2023.
In total, there are 19 new additions to the Spear’s Property Agents Index 2024 and 10 agents who have been promoted to Top Recommended. Here are just some of the names to know. For the complete list, and to learn more about individual advisers, view the table at the below or visit Spear’s500.com.
Edward Aldersley
Firm: Aldersley London
Rank: Top Recommended (New for 2024)
Aldersley worked in a private boutique investment company before founding specialist prime central London property agency Aldersley London in 2016. He left the world of finance to pursue his passion for property and throughout the following years, Aldersley refined his specialisms of the upper end of the housing market in sought after areas such as Mayfair, Knightsbridge, Belgravia, Kensington, Holland Park, Notting Hill and Chelsea.
Read the full profile on Spears500.com
Alex Christian
Firm: Savills
Rank: Top Recommended
Few advisers can claim to operate as smoothly in the UHNW property sphere as Alex Christian, who helped to found and currently runs the London branch of Savills’ esteemed private office team. Christian’s enviable understanding of London’s most sought-after properties, coupled with an almost religious devotion to discretion, means that clients tend to use him more than once. The private office caters to a growing niche of global UHNWs looking for the sort of property ‘only a handful of individuals on the planet might buy’. Christian is one of the few people around who can connect the dots.
Jaishree Brice
Firm: Sotheby’s International Realty
Rank: Recommended (New)
As part of Sotheby’s International Realty’s UK relaunch team, Brice focuses on properties in Knightsbridge, Belgravia and Mayfair, but also has experience with property transactions in the home counties. Typical clients include South-East Asian, Indian, and American UHNWs. ‘Indian buyers are prominent in London,’ she says. ‘I work quite closely with Sotheby’s India team, to make sure we are making use of all our synergies.’
Read the full profile on Spears500.com
Raphael Fitoussi-Findlay
Firm: The Private Realtor
Rank: Recommended (New)
With more than 15 years’ experience working in London’s prime property market, Raphael Fitoussi-Finlay is well placed to guide HNW individuals on all aspects of the residential sales process. He founded The Private Realtor back in 2021 with his business partner Dema Salehi, in order to offer a premium one to one service to all their clients.
Read the full profile on Spears500.com
Charles Lloyd
Firm: Beauchamp Estates
Rank: Top Recommended (New)
Lloyd returned to Beauchamp Estates as head of sales in February 2024, 17 years after he left. He first joined the company in 1992 and had a highly successful spell as senior negotiator in the luxury London home sector before taking on roles at Savills and CBRE. Known to some as ‘Mr Mayfair’, Lloyd has been involved in some of the most high-profile deals in prime central London during his career, including one of the most expensive houses ever sold in Mayfair.
Read the full profile on Spears500.com
Charles Olver
Firm: Knight Frank
Rank: Top Recommended
Olver grew up in the Middle East, Far East, Australia, America and across Europe, making him, he says, exceptionally well placed to work in the epicentre of the internationally driven market place that central London has become. Olver joined Knight Frank in 2008 to work as a team member in the Sloane Avenue office, becoming Partner in 2015. As head of Chelsea sales, Olver concentrates has built up an unrivalled knowledge of the local market, covering properties in the Chelsea, Knightsbridge and Belgravia area.
Read the full profile on Spears500.com
Moreas Madani
Firm: Tyburn Property Consultancy
Rank: Top Recommended
After a successful 12-year stint as a partner at Knight Frank, Moreas Madani set up his own firm, Tyburn Property Consultancy, in 2022. Since starting the firm, Madani has distinguished himself as an independent prime new build expert and has closed several deals that are in excess of £10 million. He told Spear’s that his business is all about people. ‘I can call most of my clients friends, and I think it’s that personal touch which is our differentiating factor.’
Read the full profile on Spears500.com
Reme Urubusi
Firm: DDRE Global
Rank: Rising Star
Rising star Nicole has amassed more than 200,000 plus followers across digital channels, bringing invaluable exposure for her clients who require global reach. A ‘true trailblazer’, Nicole is never afraid to push boundaries, and looks set to go on to great things. Watch this space.
Read the full profile on Spears500.com
Neil Sloam
Firm: Winkworth
Rank: Recommended
Having grown up in St John’s Wood, Sloam has a native understanding of the area and is an expert when it comes to the high-end north-west London property market. Sloam joined Winkworth in 2019 and as managing director he runs three offices: in West Hampstead, Little Venice and St John’s Wood. Earlier in his career, Sloam was managing director at the London-based Brian Lack and Company, where he focused on prime London property and exclusive areas in Eastern Europe.
Read the full profile on Spears500.com
Methodology
In selecting and ranking property agents, the Spear’s Research Unit conducts extensive research of the market, including interviews with well-informed observers, industry insiders and of course the advisers themselves. These take place both face-to-face, and on video and telephone calls. Candidates for inclusion are asked to fill in a form to provide data and a description of their work and client base. In finalising its selections and rankings, the Spear’s Research Unit employs a proprietary methodology that includes a weighted scoring system. This takes into account factors including an adviser’s standing, reputation, client base, recommendations and testimonials, the firm they represent, their level of engagement with the process and certain industry-specific criteria.
Best property agents: the complete list
Find out more
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It’s the cornerstone of every estate agent’s patter. But when it comes to ‘location, location, location’, what is it about an area that makes it such a desirable and much vaunted place to live? A glut of artisan bakeries? Canal-side walks?
Whatever the reason, while many such favoured locations may already be well known, there are still plenty of pukka postcodes which provide the perfect place to live – and might just give its residents a new sense of status.
Some have more stardust than others – and they are constantly shifting. Here are 12 that are definitely on the up.
S3 8RD: Kelham Island, Sheffield
With its hip apartments, independent shopping arcades, microbreweries and the award winning Cutlery Works food hall, this is an area on the rise.
Snaking along the River Don and once the heart of Sheffield’s revolutionary steel making processes, Kelham Island was previously named as one of the ‘coolest’ neighbourhoods in the world.
A two-bedroom duplex apartment with a roof terrace overlooking the river, £265,000
The flat in Kelham island, which is along the River Don, has two bathrooms
‘Kelham Island is the perfect example of a post-industrial quarter of the city that has had a rebirth as a community with a real buzz,’ explains Tom Wilmot, joint managing director at Capital & Centric. ‘The beauty is that it’s walkable from the city centre, but it’s not dependent on it.’
On the market: A two-bedroom, two-bathroom duplex apartment with a roof terrace overlooking the river, £265,000 (rightmove.co.uk).
M30 9LJ: Monton, Manchester
Although only a 20-minute drive from the centre of Manchester, this thriving Salford suburb has a community feel all of its own.
There are independent shops such as booksellers and jewellers as well as myriad cafes, cocktail bars, tea shops and restaurants. Having been compared to the French Riviera – it’s merrily known by locals as Monton Carlo.
A bay-fronted semi-detached period house, £440,000, in Monton is on the market
The property in the suburb, which is only 20 minutes from the centre of Manchester, has a bright living room and three bedrooms
Not least on a summer’s evening when pavement patios are brimming with people dawdling over a cool beer and the sun plunges beyond the blossom trees facing Monton Road.
The historic Bridgewater Canal trickles past the edge of the village and an old railway line-turned-circular-walk, the Roe Green Loopline Heritage Trail, begins and ends here too.
On the market: A bay-fronted semi-detached period house with three double bedrooms, £440,000 (zoopla.co.uk)
CH48 4DZ: West Kirby, Liverpool
Situated ‘over the water’ from Liverpool, this north-west tip of the Wirral peninsula offers all the benefits of pseudo-island life. Sandy beaches, sweeping views of the Welsh mountains and yet only a half hour train ride into town.
When the tide is out on this part of the Dee estuary you can walk across the sands to see the seals at Hilbre Island. Or perhaps sail on West Kirby’s marine lake or cycle the Wirral Way.
This three-double-bedroom detached bungalow is on the market for £500,000
The property in West Kirby, Liverpool, has two bathrooms and two receptions
Away from the water, the Crescent, a curved street filled with Tudor architecture, is stacked with shopping opportunities and cosy lunch spots such as Hannah’s. A perfect place for active downsizers or growing families to make their home.
On the market: This three-double-bedroom detached bungalow has two bathrooms and two receptions, £500,000 (moveresidential.co.uk)
CF11 9XR: Pontcanna, Cardiff
Enclosed by rolling parkland yet close to Cardiff centre, Pontcanna is often described as a ‘city village’ since this ‘smart set’ suburb offers elements of both. ‘Pontacanna is loved by a number of celebrities and sports people.’ says Welsh property expert Carol Peet.
You’ll find large properties with residents parking, great independent shops, cafes and restaurants. There are tree-lined terraces with Victorian gothic homes and lots of green spaces.
There are two double bedrooms in this semi-detached house, £400,000
The home in Pontcanna, which is close to Cardiff, has modern interiors
While foodies will love Thomas, the restaurant by the former MasterChef: The Professionals quarter-finalist Tom Simmons, as well as the Saturday farmers’ market, for those Welsh cheeses and pure olive oils.
On the market: There are two double bedrooms in this semi-detached modern house, £400,000 (hern-crabtree.co.uk)
GU7 1EE: Godalming, Surrey
A picture-book market town on the banks of the River Wey, Godalming has it all ways. Guildford is on its doorstep while direct trains into London take less than an hour.
But the big draw for buyers are the open spaces and pristine countryside, according to Jason Corbett of Rowallan Buying Agents.
A two-bedroom semi-detached home with two ensuite bathrooms, £400,000
‘A large water meadow area known as the Lammas Lands, sits right in the town centre with cattle grazing and canal boats moored along the banks.
The town is heavy on the charm factor thanks to the abundance of period properties. All this coupled with a selection of outstanding schools brings families flocking.’
On the market: A two bedroom semi-detached home with two ensuite bathrooms, £400,000 (bourneestateagent.com).
BL0 9PJ: Ramsbottom, Greater Manchester
A small mill town on the edge of the West Pennine Moors, Rammy – as it’s known to locals – is as much about its past as its future.
There’s a Sunday TV teatime drama feel to the place since the heritage line of the East Lancashire Railway stops off here (complete with vintage ticket office).
Two-bedroom Victorian terrace with a quirky loft room, £294,000
Listed buildings are everywhere – from private houses to pubs, many studded with blue plaques that explain the history behind some of the town’s most iconic statues and houses.
Meanwhile, overlooking Ramsbottom is Holcombe Hill topped with Peel tower – a memorial to the founder of the police force.
On the market: Two-bedroom Victorian terrace with a quirky loft room reached by a paddle staircase, £294,000 (pearsonferrier.co.uk).
RG10 9RP: Twyford, Berkshire
Just 12 miles from Windsor Castle and a quick carriage ride from the Princess of Wales’s childhood home in Bucklebury, this is a place to enjoy clean air and a low crime rate.
Indeed, Twyford tops Garrington Property Finders’ Best Places to Live 2024 report, which ranks the best 1,400 cities, towns and villages in England and Wales on criteria such as beauty, schools, and connectivity.
A detached three-bedroom, one bathroom bungalow in a secluded setting, £550,000
It’s old world charm is appealing for families, retirees and young professionals who want to commute but also live the quiet life.
Not least thanks to the 34-acre Loddon Nature Reserve, home to nesting wetland birds, which sits on the edge of the village.
On the market: A detached three-bedroom, one-bathroom bungalow in a secluded setting, £550,000 (grapevineproperty.co.uk).
EH7 4HU: Canonmills, Edinburgh
Canonmills is the unsung district of Edinburgh with access to the Scottish capital but without the bustle of city living.
There are independent coffee shops, restaurants, and pubs.
This one-bedroom flat has a spacious sitting room with bay windows, £220,000
‘But another attractive quality is the area’s access to green spaces, including Edinburgh’s Botanic Gardens, and the edge of the Water of Leith, which runs through some of the city’s most scenic and impressive cultural sites,’ says Andrew Duncan, land director at Kelvin Properties.
On the market: This one-bedroom flat has a spacious sitting room with bay windows and a fireplace, £220,000 (property.lindsays.co.uk).
WA16 6DX: Knutsford, Cheshire
Cheshire is famed for its golden triangle – Alderley Edge, Prestbury, and Wilmslow – which are hugely popular locations particularly with footballers and their WAGs. However, Knutsford is the real hidden gem with its historical buildings and a small high street prickling with chi-chi boutiques and charming places to eat.
‘This thriving market town has a fantastic social scene that effortlessly traverses country casuals and Cheshire glamour,’ explains Douglas Plant, manager of Gascoigne Halman.
A £475,000 three-bedroom semi-detached period cottage with large gardens is on the market
The living room of the home in the charming northern town of Knutsford
You can walk straight from the heart of Knutsford into the 1,000-acre Tatton Park which has a deer park, formal gardens and working farm. It also hosts more than 100 events each year including Knutsford Music Festival and Knutsford Royal May Day.
On the market: Three-bedroom semi-detached period cottage with large gardens, a summer house, pergola and vegetable allotment, £475,000 (savills.co.uk).
LE15 6DT: Oakham, Rutland
The largest town in Rutland – Britain’s tiniest county – Oakham clearly lives up to its motto of ‘multum in parva’ (much in little).
Here you’ll find good schools on the doorstep – including Uppingham – while an abundance of local produce gives Oakham its upmarket, splashed-wellies feel.
A three-bedroom converted stable on the Rutland cycling path is up for sale
The home, including a bright kitchen, has been refurbished and is priced at £425,000
Contributing to this atmosphere are the walking and cycle trails, as well as Rutland Water Nature Reserve, which is home to 393 acres of wild habitat. With traditional local country pubs – it’s as charming as the Cotswolds – just cheaper.
On the market: A refurbished three-bedroom converted stable on the Rutland cycling path, £425,000 (hurfords.co.uk).
SY8 1AS: Ludlow, Shropshire
Tucked away in the heart of Shropshire, just 14 miles from the Welsh border and a two-hour drive from the city of Birmingham, this is a tight-knit community among medieval architecture and listed buildings.
Not least this is seen in the 17th-Century timber facades and ruins of Ludlow Castle, originally built in 1086.
Recently renovated grade II-listed two-bedroom cottage with period features, £350,000
Ludlow is also a foodie haven with independent shops, selling locally sourced meats and cheeses as well as the ‘Local to Ludlow’ farmers’ market.
Every September the town plays host to the Ludlow Food Festival – showcasing more than 180 handpicked, small producers of traditional food and drink.
On the market: Recently renovated grade II listed two bedroom cottage with period features, such as fireplaces, large sash windows and exposed floorboards, £350,000 (struttandparker.com).
SR7 0HP: Seaham, County Durham
A cash injection into this lively harbour town on the Durham Coast has given new life to its 5km promenade, attracting a plethora of craft beer bars, restaurants and cafes.
What’s priceless however are the cliff top views as well as the serene beauty of the sandy North Beach, speckled with rock pools, and comfortingly sheltered by a long sea wall.
There are three bedrooms and two bathrooms in this terraced house, £169,995
‘Seaham’s idyllic location on the County Durham coast has resulted in it long being a hotspot for house hunters seeking a better, quieter life,’ says Helen Wall, director at Bradley Hall. The Seaham Marina – the only one in County Durham – has everything from cafes serving delicious homemade cakes to physiotherapy and fitness classes.
On the market: There are three bedrooms and two bathrooms in this terraced house with a spacious kitchen, £169,995 (bedebrooke.co.uk).