D_Property

Despite the rather bleak report from Nationwide revealing that London house prices fell last year for the first time since the financial crisis, new detailed research shows a third of homes in the capital actually bucked this trend.

In fact, according to independent London estate agents, James Pendleton, around 33% of postcodes in the capital saw prices continue to rise over the same period, suggesting it’s not all doom and gloom for London homeowners.

The Nationwide House Price Index reported that house prices fell 0.5% on average during 2017, however asking prices increased by at least 5% in more than one in 10 (12%) of the capital’s postcode districts last year.

In total, great swathes of the capital across 36% of London postcodes beat the average, which James Pendleton’s experts believe has been dragged down by plummeting prices in prime central London giving a distorted impression of the wider market.

In North Kensington (W10), average asking prices rose an impressive 27.6% to £1,165,346 over the last year, while the Olympic Park (E20) enjoyed a 20.3% uplift in prices to £667,033. South of the River Thames in West Wimbledon (SW20), average asking prices rose 15.2% to £1,014,983.

In terms of actual values, more than a fifth (22%) of London postcodes saw average asking prices increase at least £10,000 over the last year. Lucky homeowners in North Kensington (W10) can celebrate as asking prices jumped more than £250,000, while those in South Lambeth (SW8) will have seen prices boosted by £177,000 on average.

Lucy Pendleton, founder director of independent London estate agents James Pendleton, said:  “London homeowners needn’t despair in spite of relatively gloomy Nationwide figures. It is important to remember that statistics like these always smooth out radical differences between different areas rather than drilling down to specific neighbourhoods.

This means that big differences in the fortunes of districts that can have their own economic weather system are lost unless you look closer at what’s actually happening at ground level in much of the capital.

Our research shows that it’s too early to write London’s incredible growth story off, even if some of the more expensive properties are having to adjust to a slightly different reality, mainly prompted by Brexit.”

Source: www.propertyreporter.co.uk

January 30, 2018
london-1572444_1920

Signs of recovery as a third of London saw property price hikes in 2017

Despite the rather bleak report from Nationwide revealing that London house prices fell last year for the first time since the financial crisis, new detailed research shows a third of homes in the capital actually bucked this trend. In fact, according to independent London estate agents, James Pendleton, around 33% of postcodes in the capital saw prices continue to rise over the same period, suggesting it’s not all doom and gloom for London homeowners. The Nationwide House Price Index reported that house prices fell 0.5% on average during 2017, however asking prices increased by at least 5% in more than one in 10 (12%) of the capital’s postcode districts last year. In total, great swathes of…
January 29, 2018
edinburgh-2147875_1920

UK is now the most popular global location for commercial property investment

The UK is now the most popular location globally for commercial real estate investment with Germany losing favour as a commercial property hotspot, the latest research suggests. Britain’s popularity among investors increased from 27% in the third quarter of 2017 to 29% in the fourth quarter and the United States and France have also gained popularity among investors. Indeed, Germany has gone from the top spot to fourth place behind the UK, the US and France, according to the latest commercial property investment barometer from BrickVest. Germany saw a drop in popularity from 34% to 23% in the last quarter of 2017, marking its lowest rating since the second quarter of 2016. The UK, however, rose…
January 24, 2018
home-1682307_1920

Average rents rise in December

The latest data and analysis from HomeLet has revealed that the private rental market ended 2017 with rental price inflation moving marginally higher. According to the report, rents in the UK rose by an annualised average of 1.7% during December, reaching £907 compared to £892 in the same month of last year. Rental price inflation was much more stable over the course of 2017; by contrast, rents in 2016 regularly rose at an annual rate of more than 4% in the first half of the year, before rental price inflation dropped back in the second half. Rental price inflation remains modest by recent standards. In December 2015, rents were up 3.7% on the same month of…
January 23, 2018
london-1572444_1920

Latest analysis reveals further stability in prime central London property market

There are further signs of stability in the prime property market in central London but values are still 3.5% below a year ago, the latest research shows. House prices across prime London continued to soften over the last quarter of 2017 but in the central markets values may be bottoming out, following three years of price falls, according to the market in minutes report from real estate firm Savills. However, the analysis points out that other more domestic parts of the prime London market are under pressure from fragile buyer sentiment. Outside of prime central London, where the average value is just below £2 million, prices fell 1.2% over the fourth quarter of 2017 and are…
January 18, 2018
urban-438393_1920(2)

Outlook for UK property market in next 12 months is more upbeat

The 12 month outlook for UK residential property prices and sales is more upbeat with Scotland, the North East of England and Northern Ireland seeing stronger activity, according to the latest industry survey. While agreed transactions fell at a national level in December with sales flat or negative across the rest of the year, surveyors are more optimistic, the survey from the Royal Institution of Chartered Surveyors (RICS). But there is unlikely to be a sudden improvement with sales expectations nationally remaining flat over the coming three months. However, signs of movement are there for a pick up during the year across all regions with London recording its first positive reading since last June. Overall buyer…
January 15, 2018
building-1841299_1920

Rental growth accelerates by a third in 2017

The latest data and analysis from Countrywide has revealed that rental growth across Great Britain increased in 2017 to 2.4%, up from from 1.8% in 2016. According to the figures, the average rent ended the year at £960 per month, up by £23 a month from the start of the year.  While rents rose a third faster than they did in 2016, rental growth was still behind than in both 2015 (3.2%) and 2014 (4.9%). Forty-six per cent of landlords increased the rent when re-letting their home, up from 37% in 2016. In a reversal of 2016 when London had the slowest rate of rental growth in England, last year it had the fastest. Over the…
Restricted Content
The contents of this website are intended only for investors from certain qualifying classes (“High Net Worth Individuals”, “Self-Certified Sophisticated Investors” and “Restricted Investors”). To access the full contents of the site you must first register in one of these categories.
Please confirm that you are a suitable investor before proceeding. If you are unsure whether you meet the specific criteria or not, you can check the definitions here.
Will be back soon