The majority of London homes are not known for their generosity when it comes to outside space. In the current climate, where gardens and even parking spaces are a highly sort after commodity, landing a prime property close to open space may be your best shot.
Brexit and weak pound helped London leapfrog Hong Kong and New York in 2020
International property consultant Knight Franks' Liam Bailey, Global Head of Research, is reporting this week that the world's ultra-wealthy spent almost $4 billion on super-prime properties ($10m+) in London last year, more than any other city.
A number of prime central London postcodes are seeing homes sell at a considerable discount of up to -20% per square foot, highlighting that in many areas there is a notable difference between the expectations of home sellers and the price that buyers are willing to pay.
Online fashion giant Boohoo has snapped up a new office in Soho, in the heart of London’s West End, for £72m.
House prices in central London have had a rough ride since the start of the pandemic, with prime property having reportedly fallen by 10% on average.
The traditional north-south divide on house prices has been turned on its head, with London the UK’s worst-performing region and north-west England topping the table, according to Nationwide.
Although narrowing from the widest gap in 2016 where house prices in London were 2.3 times the national average, it is still roughly twice as much for an average home compared to anywhere else in the UK at just over £500k. It's fair to say that London has its own set of rules with regards to property.
Due to the affects of lockdown on the buying preferences of house hunters in the capital, there has been a shift towards homes in the suburbs. Despite being down, the inner London property market is certainly not out, according to the latest research from Benham and Reeves.
Tax changes and the pandemic have given landlords a rough-ride over the last couple of years, with many throwing the towel in altogether.
Buyers were out in force for the Auction House London sale last week with the firm reporting that many properties sold well above reserve prices and expectations.
The build to rent sector has gained momentum in recent years and now accounts for 1% of all UK rental properties, having surged by 135% since 2017.
London is the only major UK town or city facing a challenge of this scale, with all regions of the capital experiencing huge drops in demand due to the ongoing pandemic and shift in attitude towards renting in the city.
According to the latest data released by international real estate experts, Astons, homeowners in the capital have seen the value of their property climb by £34,526 on average since the end of 2019. However, some pockets of the capital have seen far more impressive growth.
The prime French market is temping high-end homebuyers away from London, according to the latest market analysis from high-net-worth mortgage broker, Enness Global.
Ahouse billed as "possibly the skinniest house in London" is up for sale for £950,000 ($1.3 million).
Just six feet wide and covering 1,034 square feet, the five-story property was once a hat shop, according to real estate agent Winkworth, which is marketing it.
House prices surrounding London’s tube stations have fallen by an average of -2% since the start of the pandemic. A little over a year ago, close proximity to a tube station was high on the wish list for many living and working in the capital.
With average house prices of over £500k, getting on the property ladder in the capital is no mean feat. So, once you're part of the London property club, how does your purchase stack-up compared to others in terms of value?
Much the same as the rest of the property market, the high-end sector in the capital is being reshaped by Covid as buyer demand shifts towards bigger homes and more outdoor space.
The UK’s highest office rent deal has just been agreed, in a boost for London’s property market during a turbulent period.
A number of office lettings are expected to be signed, despite fears that businesses will hold off leasing decisions while people continue to work from home, according to new research.
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