New portal launches for super-rich property hunters

A new UK property portal has launched called Rhodium which targets the super-prime property hunters.

Named after the world’s most valuable commodity (Rh45), Rhodium showcases the most prestigious addresses including One Hyde Park, Cornwall Terrace and The Lancasters.

The ultra-lux website is translated into Mandarin, Russian, Hindi and Arabic for the benefit of the site’s international visitors and includes currency conversions on all listed prices.

It also has a password protected section that allows Rhodium’s private clients special access to a database of off-market properties.

It claims to be the first website of its kind with a dedicated off-market section, allowing high-end buyers access to the most exclusive unlisted properties in London.

The website features listings from agencies including Beauchamp Estates, Glentree Estates, Hamptons International, Harrods Estates, Aston Chase and Arlington Residential.

https://www.rh-45.com

* Super-prime property prices worth £5m-plus went up by 2.1% in the first three months of this year, according to Knight Frank, which says prospective buyers in the overall market are up 32.5% on the year, and sales volumes are up 12.8% compared with a year ago.

Grainne Gilmore, Knight Frank’s head of UK residential research, said: “The average value of luxury homes worth £5m and more is at the highest level seen since September 2008, when prime prices were just coming off their peak. Interest in top-end properties is strong among overseas buyers, especially for homes worth £10m or more.
 
“Initial feedback from agents suggests that the changes to the Stamp Duty regime have been factored into purchasers’ budgets.

“Moving to the other end of the price scale, demand in the country market becomes more domestic. The economic turbulence buffeting the country has had an impact, and has taken a particular toll on the market for homes worth £1m to £2m, where values fell by 1.4% on the quarter.
 
“The introduction of the 7% Stamp Duty for purchases of homes worth £2m or more could re-invigorate this market, especially if home owners from London decide to move out of the capital to the country where they can get more ‘bang for their buck’. This may further bolster markets in country hotspots, especially those relatively close to London, such as Oxford and Basingstoke.”
 
Rupert Sweeting, head of Knight Frank’s country department, added: “Agents report that new supply of housing has invigorated some markets, as would-be buyers were growing increasingly frustrated with a limited range of properties for sale, especially those which had been on the market for some time and with price tags that did not match the market reality.

“In contrast, some local markets have been reignited by a new influx of sellers who have set realistic asking prices. The very best houses still attract competitive bids, and sales for over the asking price can still be found.”