Trend Spotter

Spring property report

The magnolias and the sun (now and then) are out, and so is our quarterly property report, providing a detailed overview of the property market in W14, W11, W10, and W2. It’s online here, or in print from our office in Lambton Place. You can give us a call on 020 7221 1117, or drop us a line at nick@crayson.com,  and we’ll send you one, or even better, pop in and pick one up, we’d love to see you.

Here are some of the highlights:

The general picture is pretty bright. Sales, prices and new instructions have all increased; and in contrast to the slow start in 2012, sales activity in prime postcodes has been brisk, with 36% more properties sold than at this point a year ago.

We have seen an increase in new instructions so far this year, with significant pent up demand meaning our outlook for 2013 remains very positive indeed.

Market activity

“So far this year buyers in Notting Hill, Holland Park and Kensington have spent an average of £126 million per month, 17% more than at this point in 2012.

 

“In the last three months total sales have risen by 22% compared with the same period a year ago. The number of apartments sold increased by 25%.

“Demand for houses over £2 million has been particularly noticeable this year and transactions have increased by 24% in the last three months.

New instructions

“ In the first quarter of 2013 the number of new property instructions in our area were 65% higher than 2012 averages.

“ The most significant increases in new stock being listed have been within W11 (Notting Hill) and the Kensington & Chelsea postcodes of W14, where properties listed for sale rose by 101% and 86% respectively.

“The number of properties released onto the market at between £2 million and £5 million has increased by 84%.

“For properties over £10 million,  the number was 101% higher than in the first quarter of 2012

Nick Crayson

10.5.13