New York will overtake London as the most important city for the ultra-wealthy by 2023, according to Knight Frank’s Wealth Report, an annual analysis of wealth flows and property investment around the world.
The report shows that three of the top five most important cities by 2024 will be in Asia, knocking Geneva from the top 5. Continue reading →
London may boast the highest average disposable incomes in the UK, but it also has the highest cost of living and the lowest average savings levels
There are many benefits to living in the capital but it’s not without its drawbacks too. The annual London Factor research from Halifax outlines the current financial and social advantages and disadvantages of living in the capital city. Continue reading →
Kitchens are shrinking dramatically in size and prominence in new London homes and conversions, according to the latest research from estate agents Marsh & Parsons.
Falling victim to the changing eating habits of modern-day Londoners, kitchens now account for a smaller proportion of the total living space in new build developments and conversions in the capital than ever before. Continue reading →
Here Richard Barber and Lucy Morton of London estate agent W.A.Ellis bring their most recent insight on the Prime Central London property market:
Richard Barber, partner in residential sales: “Transaction levels in SW1, SW3 and SW7 for the period September – November are up 11% year-on-year (Lonres), and capital values for the same period are 4.1% up, but demand is still strong and outweighing supply. Sellers are achieving 97% of their guide prices in Central London, and we expect these percentage levels to be maintained while stock levels remain sparse. Continue reading →
Revived letting transaction volumes reflect more upbeat sentiment as the occupier and investment markets continue to undergo reorganisation, according to Cluttons in its Autumn West End Office Market Outlook.
Sue Foxley, head of research, Cluttons, said: “Improving economic sentiment is filtering through to the commercial occupier market as West End transaction volumes increase. Continue reading →
West End estate agency, LDG, has seen a buoyant sales market in the second quarter of 2013 (April-June) with an increasing number of UK buyers compared to those from Europe, and a number of people choosing to cash in their pensions in order to invest in property.
Laurence Glynne, Partner at LDG, comments: “Approximately 75% of our buyers have been from the UK this quarter. Continue reading →
Prime Central London house prices are growing at their fastest rate since the financial crisis of 2008, with provisional figures for Q2 2013 showing quarterly growth of 4%, bringing annual growth to 10.2%, reports property consultants Cluttons.
Improved sentiment in the capital in terms of both the economy and job prospects, which are both showing signs of growth, have spurred even more buyers to step into the market or make a long overdue move. Continue reading →