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
South West London estate agency, Haus Properties, is seeing a high demand for properties in the Fulham and Chiswick area with the majority (97%) going to sealed bids.
The strongest demand is in the £400,000-£800,000 price bracket, where most properties are attracting approximately 12 bids. Continue reading
Realistic pricing is key in the prime Central London property market, particularly in the family house sales market according to W A Ellis.
International interest in London continues in spite of rising stamp duty costs as the capital remains a safe place to invest. Continue reading
Tenants are seeking to move to the peripheries of prime Central London, primarily zones 2 and 3, in search of lower budget properties as they attempt to minimise outgoings, reports Cluttons in its Residential Property Forecasts – Q2 2013.
Average weekly rents of £1,016 in prime Central London remain broadly unchanged from this time last year, but the volume of applicants with higher budgets is in decline, a trend which is expected to persist over the coming months. Continue reading
Half of all adults surveyed in London would like to buy a new home to live in (be that a first or subsequent home) in the next 2-3 years, according to findings by the Council of Mortgage Lenders based on a survey undertaken by YouGov.
In the longer term, 75% of adults currently living in London would like to own their own home in 10 years time, a slightly lower proportion than in Great Britain overall where 79% of individuals indicated a longer term preference for home ownership. Continue reading
The value of penthouses currently being sold in London now exceeds £1billion, according to research from CBRE.
The report, “Penthouse London: paying a premium for perfection”, is CBRE’s first in-depth study of the London penthouse market, which has soared in value since the prime residential market began to recover from the global property crash. Continue reading
Property values in prime areas of London have increased by a substantial 12.8% in the past year, following a rise of 3.6% during the first quarter of 2013, according to estate agent Marsh & Parsons’ latest London Property Monitor.
But it is actually the areas of Non-Central Prime London that have experienced the most dramatic growth, as a relative lack of supply pushes buyers and investors further afield. Continue reading