Documents • Jun 23, 2014 08:05 BST
The City of London and its immediate surroundings have transformed over the last decade. It is still a thriving finance and business district, but it is now buzzing even when the financial markets close. The impressive range of bars and restaurants, boutique retailers and weekend entertainment is drawing in new residents. It is becoming a highly sought after residential location.
Documents • May 16, 2014 13:54 BST
Since Aragon Tower over 30 London residential towers, of over 20 storeys in height, have been developed across London. A further eight residential towers are due to complete construction this year and another 31 are under construction and due to complete by 2018.
2014 is off to a flying start. Our sales team threw themselves into 2014 and transacted an impressive £45 million worth of property in the first quarter; that’s over £500,000 per day. This is 11% up on total volume for the same time last year. The team have seen a particularly pronounced demand for prime property, with almost half of total sales over £2 million.
Documents • May 02, 2014 15:55 BST
Significant increase in competition, coupled with low availability of existing product has led to substantial contraction in yields, particularly in Greater London. The reduction of perceived risk in the regions is shifting investment strategy to established regional centers.
Documents • Mar 10, 2014 09:36 GMT
The rental sector is increasingly becoming the tenure of choice for many young professionals priced out of home ownership. As a result the number of rental households has increased by one million over the past five years. It now accounts for 3.9 million households across England and Wales.
The Midtown office bucked the traditional trend that the final quarter of the year is usually the quietest. This was the second busiest quarter of 2013 for the sales team, who experienced an uplift of 36% in the number of exchanges relative to the third quarter. The final quarter also saw the highest value achieved for the year with an apartment reaching a value exceeding £2,650 psf.
Documents • Jan 29, 2014 09:09 GMT
Top 10 - Boroughs to buy in Top 10 - Tallest completed towers in London Top 10 - Tallest future towers in London Top 10 - Niche developments Top 10 - Riverside schemes Top 10 - First-time buyer locations Top 10 - Most expensive commuter towns Top 10 - Most affordable commuter towns Top 10 - Addresses Top 10 - Crossrail winners
In London the situation is ever more serious. Over the past decade London’s population has increased by around 800,000 whereas just 200,000 new homes have been built. With its population expected to increase by around 1 million over the next decade the pressure on housing will become even more acute.
2013 is turning into a good year for the capital. On the back of a surge in confidence, construction levels and sales rates are at a five year high. But underneath its skyline of cranes and skyscrapers, there are a handful of quiet little villages that, while still seeing strong growth in values, remain seemingly unchanged in physical terms. Perfect, the way they are.
Crossrail is Europe’s largest infrastructure project and its impact on London will be far reaching. In property terms, Crossrail is a game changer. It has already affected key investment decisions, acting as a catalyst for further development and providing a significant boost to property values.
The promising start to 2013 has continued throughout the first half of the year, with the number of sales increasing by 45% compared to last quarter and 68% compared to the same period in 2012. Enquiry levels have remained very strong, with the high number of new build properties we have brought to the market proving popular with both domestic and international purchasers.
Average house prices in prime Central London have increased again, rising by 4.2% over the last quarter and outperforming the wider London market, which saw growth of 1.5%. However, increases in new-build values surpassed both at 5.0%. At the beginning of the year, we were predicting price growth of around 6.0% in the prime market for 2013; we now expect growth to come in slightly above this rate.
Improving consumer sentiment and government initiatives is resulting in a more fluid new build sales market, which is feeding through to an upswing in land values for best sites. We have seen double digit price growth on well located consented land, in undersupplied regional markets; albeit from a low base and following several years of stagnant growth.
There has been a marked slowdown in activity in the first half of 2013, with around half the number of deals compared with the previous six months. The total value of unbroken investment block acquisitions has fallen from around £324m in the second half of 2012 to £224m in the first half of 2013.