Robert Soning, COO of Londonewcastle took time out to reflect on the changes in the London residential property market recently:

The style and quality of design of new developments has changed dramatically since 2007 - for the better. Developers have to try a lot harder and really get the details right – specification, style, finish and services have all got to be right to appeal to buyers.

The Growth of Residential Services

What has also really changed, is the continuing upwards drive for residential services which used to be the preserve of prime area developments only – I’m not just talking about swimming pools and gyms, but screening rooms, private residents clubs, libraries, business centres, wine storage and 24hr onsite concierge services. When we tabled the idea of the latter for The Henson development in Camden back in 2007, people thought we were mad, but residents really bought into it. We are going to see this trend continue as people continue to work longer hours and travel more, spending less time in their homes while buying more goods online for delivery to their home address.

I think interior design has evolved and become more expressive. Thankfully, most developers have moved on from thinking that every buyer in the world wants an Eames chair.

In terms of demand, it’s well documented that we are currently experiencing a surge in international buyers – with 59% of all buyers of prime stock being International and up to 70% for new build developments in prime areas.

New Markets

The two main difference between now and 2007 is the breadth of new markets that are now investing in London beyond the traditional major European states and selected Far Eastern and Middle Eastern nations.

The breadth of areas that are now being invested in beyond the usual has also changed to encompass areas that would not have previously been considered and this has been driven by quality developments with quality specifications and services that meet the needs of these international buyers and investors.

For example, Russian clients didn’t really featuring back in 2007, but we had a number of buyers from the country at The Henson. Mainland Chinese customers were also not a part of the market, but now represent about 3% with a heavier bias in Canary Wharf. Malaysians have also entered the market in greater numbers – with about 350 off the total 900 or so off plan sales for Circus West, the first phase of Battersea Power Station’s regeneration.

What will be interesting over the next couple of years is if Chinese customers will grow as a percentage of the market – especially outside of their currently favoured areas and price point - and the oft talked about growth of BRIC countries – especially India, where few inroads have been made other than a few sales at the top of the market.

Londonewcastle creates individual developments for people with individual taste. We develop with the domestic owner-occupier market in mind and it’s that vision that our overseas customers want and buy into.

Inside/Outside Space

Outside space is always at a premium, but customers really want to maximise useable space. As a result, ‘Winter / Sky Gardens’ do seem to be in vogue at the moment. They can now be seen at numerous other developments across the capital. We have designed them into our Dollar Bay development in Canary Wharf and it’s easy to understand why they have become popular with architects, developers and planners alike. They provide flexible, year round, usable inside-outside space and amenity. You have the flexibility to use what would traditionally be a terrace for a number of uses – sun lounge, library, study or additional living space.

Customers see the benefit because we are limited to the amount of time we can use outside spaces in this country due to the climate or in a tall building, due to the height, perception of safety and wind. It’s the opposite situation in hot climates, where there is a preference for shaded and/ or climate-controlled spaces to escape from excessive heat, humidity and poor quality air.

In addition to private amenity space, it is also good to provide shared communal spaces in developments where neighbours can relax. It improves the richness of the development and helps to foster communities with the development.

A New London?

Yes, as prime areas have extended it has pushed traditional notions of prime (defined by areas that cost £1,000 per square foot (psf) – Nine Elms, the city fringe (encompassing Old Street and Shoreditch), Paddington, Kings Cross all spring to mind.

Shoreditch is now commanding £1,000psf for quite average developments on the right streets and we have high hopes for our proposed development of the Huntingdon Estate in this area which will deliver a specification and living experience that has not been seen in the area before.

Welcomed Legislation

Legislation is always changing and evolving – from greater community/ public consultation – which we welcome - to moving towards carbon-neutral new developments including thermal efficiency, the use of recycled materials in construction to the energy efficiency heating/ cooling systems and appliances.

Interior Design Evolved

Open plan living has continued as a trend, rather than it being new. I think we are moving away from Scandinavian simplicity to more expressive interior design with a wider palette of seemingly clashing materials that work well when used intelligently together, but admittedly this is in more individual areas and seems to be less prevalent in the ‘greige’ parts of town.

One thing we are really seeing in new developments is demand for as much storage space as possible throughout the apartment – or within the development; for example, the provision of storage boxes in basements can command as much of a premium as car parking spaces.

Technology in the Home

We are going to see the continued increase of home automation – the one thing that hasn’t been linked up yet is bathrooms and kitchens. You will be able to switch on appliances remotely via smart devices, fill a bath and put your fridge in holiday mode for example. There is no reason to believe that you won’t be able to control security and access to your home too as it is already possible to set up profiles for home automation systems today.

I think we are likely to see screens and audio systems being even more integrated into the fabric of the home – multi function screens that act as TV, home hub and communication devices.

The Catlin Art Prize 2013, now in its seventh year, is an annual exhibition that feature the most exciting art graduates in the UK one year on from their degree shows. This year’s exhibition will be held back at Londonewcastle Project Space from 2nd – 26th May 2013 and will showcase brand new work by 8 artists, each chosen for their potential to make a significant impact in the art world over the next decade and beyond. The prize is unique in offering a framework for artists to develop a new body of work during the first year out of art school. Each artist receives a bursary to support their progress. The Catlin Art Prize 2013 finalists are: - Steven Allan (Royal College of Art) - Fatma Bucak (Royal College of Art) - Juno Calypso (London College of Communication) - Robert Crosse (Slade School of Fine Art) - Nicky Deeley (Royal College of Art) - Bee Griffith (Goldsmiths) - Terry Ryu Kim (Slade School of Fine Art) - Conall McAteer (Central St Martins) - David Ogle (Lancaster University).

Justin Hammond, Art Catlin curator, comments: “From David Ogle’s light sculpture to Nicky Deeley’s marathon performance piece, this particular exhibition is designed to celebrate diversity rather than draw tenuous parallels or proclaim some kind of new art movement. It’s a very strong line-up, but perhaps this latest chapter will demand more from the viewer than in previous years.” A panel of judges will award one artist with a prize of £5,000 at a private ceremony on 22nd May. The 2013 judges are: - Former Turner Prize nominee Dexter Dalwood - Art gallery director Ceri Hand - Renowned collector Valeria Napoleone. The public also have the opportunity to take part in the ‘Visitor Vote’ and pick their favourite artist in the exhibition. Votes can be cast on www.artcatlin.com and via a ballot box at the show. The winner is awarded £2,000. Previous finalists have gone on to feature in major exhibitions in the UK and internationally. 2013 winner, Julia Vogl has since completed a number of public commissions, including HOME, a multi-coloured public living room constructed in Peckham during the London Olympics. She was recently selected alongside Martin Creed, Gavin Turk, and Jake and Dinos Chapman to take part in Museums at Night 2013. Last year’s recipient of the Visitor Vote, Adeline de Monseignat, has enjoyed a string of London shows and is now represented by Ronchini Gallery.

Last Thursday, Jonathan Ellery opened the doors of the Londonewcastle Project Space on Redchurch Street for the private viewing of his new exhibition ‘The Hen House’. The artist has transformed the gallery into a beautifully lit space and installed his themed minimalistic artwork.

Gallery One exhibits 2 pieces of his stunning artwork decorating the wall. This room brings to the forefront Ellery’s interest in light and contrast. The photographs are an unfolding narrative.

Gallery Two has three iron and steel rings on the floor. Ellery’s construction of this room allows the viewer to work through his awareness of the absurd.

And in Gallery Three, the focus is on five large format machined brass sculptures hanging from the wall. How it is installed gives this series a narrative, it is deceptive in its simplicity but gives the work a continuation. Once again the overriding theme is of beauty and class.

The Roundhouse Gala, co-sponsored by Londonewcastle has released the list of auction lots ahead of the Gala on Thursday 7th March 2013.

The lots include some incredible pieces by Antony Gormley; Coldplay and Paris; Conrad Shawcross; Ron Arad; Sir Peter Blake; Jake & Dinos Chapman; Marc Quinn; Rankin; Dennis Morris; Blur/ Stylorouge to name but a few of the artists. Experiences range from a meet up with Lord Coe to a meet and greet with One Direction!

For a full list of the lots click here.

To submit a sealed bid for any of the auction items email here quoting the item title number no later than 11am on Thursday 7th March 2013.

Please include: - Your name - Your mobile number - Your bid

If you are the highest bidder when the auction website closes in preparation for the event, you will be contacted by the Roundhouse team for further information.

To read more about the event, click here.

Note:

All the proceeds from the night will go towards maintaining the vital work we do with 3,000 11-25 year olds a year, helping them to realise their creative potential as well as build confidence and skills to take into their futures. It will also enable us to develop our artistic programme, offering audiences of all ages new and extraordinary experiences in live music, circus, theatre and new media.

Here are a few completed images of the fine work that celebrated street artist EINE has done on Ebor Street. It was cold, but the good man of Hastings shrugged off the elements in fine, colourful style, doing away with the Anti-Anti-Anti and Pro Pro Pro missives of 2010 (read the story on EINE’s blog) and replacing them them with some new words.

A big shout to ad agency Mother for doing the double and asking the artist to paint their side of the street.

It always makes we wonder when a new one of these pops up, what those dudes doing graff tours to eager Japanese students say ‘knowledgeably’ about the stories behind these walls…

Anyway, hope you like the new works. Have a look next time you are down in Shoreditch - first right off Redchurch Street as soon as you pass the Tea Building.