The average asking price of a London home is now more than £500,000, according to recent research by the UK’s leading property portal, which showed that the average price in the capital in May rose month on month by 3.1 per to a record £509,870. This means a typical home in London is now more [...]
Read more>>>London penthouse market reaches dizzy new heights
Penthouses now account for sales worth more than £1billion a year and represent a booming sector of London’s property market, according to research by a leading international property advisor. Penthouses are being developed across London, but vary dramatically in price, although it is now impossible to buy a penthouse in the capital for less than [...]
Read more>>>More prime London homes being bought by foreigners than by Britons
Foreigners have overtaken Britons as buyers of desirable London homes after research showed they bought more than half of prime residential homes sold in the capital in the past year to April 2013. A report by international estate agent Knight Frank showed that overseas buyers accounted for 52 per cent of all £2million-plus residential properties [...]
Read more>>>Appetite for London property at pre-credit crunch levels
Demand for residential real estate in London grew three times faster than supply during the first quarter of 2013 and is now at levels not seen since October 2007, just before the financial crisis triggered a property crash. Figures from property analyst Hometrack also showed that homes in London were typically on the market for [...]
Read more>>>£250million – a record price tag likely to attract foreign buyers
In the same week that one of the wealthiest owners of prime real estate in London, the Grosvenor Group, speculated about a bubble in the capital’s property market, a house around the corner from Buckingham Palace made the record books by going on sale for a reported £250million. The Grade1 listed Regency mansion on Carlton [...]
Read more>>>London beginning to feel the Crossrail effect
The effect of the pan-London Crossrail project on the capital’s property market is gaining momentum, to the extent it is expected to create £5.5 billion in added value to residential and commercial real estate along its route between 2012 and 2021, according to a recent study by GVA, the UK’s largest independent commercial property consultant. [...]
Read more>>>Investment from wealth funds a shot in the arm for London property
London’s property market is expected to benefit from growing interest from global sovereign wealth funds, as immovable assets in prime locations around the world become a more attractive asset class in today’s unpredictable economic climate. Historically, sovereign wealth funds (SWFs) have invested in bonds and, more recently, equity markets, as a form of alpha-generating asset. [...]
Read more>>>London shines on world’s luxury property stage
London has topped a new index ranking the world’s 10 most important cities or destinations for luxury residential real estate, thanks in part to achieving the highest sale price of £75million ($121million) in 2012, behind New York’s $88million. The rankings, published last month, are part of a report by the global prestige brand, Christie’s International [...]
Read more>>>London property values supported by the weaker pound
Property prices in London rose 5.5 per cent in the year to January 2013, meaning the average cost of a home in the capital is now £403,000, higher than at the pre-crisis peak of January 2008, according to recent figures from the Office for National Statistics (ONS). Much of the appreciation has been driven by [...]
Read more>>>Indian Investors Overtake Chinese as Dominant London Buyers
According to the latest data from leading estate agent Savills, Indians are now the biggest foreign buyers of London property, overtaking China for top spot. India’s economy continues to grow rapidly, the middle classes are growing and more and more people are becoming wealthy enough to invest in property on a grand scale. With the [...]
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