020 7538 0102
25th September 2015
Data from Hometrack shows that Londoners face paying 12 times their earnings to afford the average property in the capital, with the gap between London and other major UK cities at its widest in 20 years. Monthly figures show that London property is around 75% more expensive than that in Liverpool and Glasgow. Across the UK's 20 biggest cities, Hometrack said prices have increased by 8.3% since September 2014.
The Guardian (25/09/2015
25th September 2015
Latest Rightmove forecasts claim that the average London home will cost £1m by 2020. Prices in the capital hit an all-time high in September, jumping 2.2% or £13,177 to reach £620,003, according to Rightmove's latest House Price Index.. Annual growth in London was 9.5%.
Evening Standard (21/09/2015))
25th September 2015
There is an abundancy of two, three and four-bedroom new-build homes in central London as planners push developers to build family homes despite a lack of demand. JLL says that many families did not want to live in new homes in the heart of the capital and that planners should be allowing developers to build more studio or one-bedroom flats, which would be snapped up by young professionals.
The Times (23/09/2015)
25th September 2015
A home in Mayfair’s Brick Street has set a new rental record for London, with a monthly rent the equivalent of over £216,000. A report authored by property data analysts LonRes claims the rate exceeds the record set by luxury apartment block One Hyde Park in Knightsbridge last year.
Evening Standard (23/09/2015)
25th September 2015
A derelict outbuilding tucked behind a shop in East Dulwich, south London, has sold for more than twice the average house price in England. The two-storey building, which comes with a garden and planning permission to convert it into a two-bedroom home, sold for £440,000 at a Savills auction on Monday, £120,000 more than the guide price.
The Times (23/09/2015)
18th September 2015
With the soaring prices of recent years settling down the Sunday Times considers the outlook for London’s property market. "The capital's housing market is the most stable it's been for years," says Julian Peak of Kinleigh Folkard & Hayward. "In the past, there has been a boom-and-bust trend of price surges as buyers flood the market, then corrections as demand subsides. But 2015 has been different." London estate agents described the first day after the Conservatives’ election win as "bonkers", "like a whirling dervish" and "the centre of a hurricane" - there has been "steady and sustained activity", as Mr Peak puts it. Charlie Bubear, head of Savills in Chelsea, says that one of the reasons for this is a "delayed reaction" to December's stamp-duty changes. This evened out the expected post-poll bounce. Last year, for example, you would have had to spend more than £7.14m on a home to be landed with a £500,000 stamp-duty bill; now that sum applies to properties over £4.89m. According to Richard Barber, director at WA Ellis, across London as a whole, the number of properties sold for more than £1m fell by 26% year-on-year. This could be good news for buyers, signalling a return to normality in the market," he says. Below the £1m mark, lower stamp duty and the BoE’s signal that interest rates won't rise until 2016 have given a modest boost to buyers. However, Adam Challis, head of residential research at JLL, cites improving economic and employment prospects as "a far more important factor supporting demand". He expects average prices to increase by 4%-5% by Christmas, compared with 3%-4% in prime London.