Moveli Newspaper - London Edition (March 2022)

APRIL 2022 MARKET COMMENT TOP PROPERTY PICKS

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03

Demand for property at all time high J O S H WO O D F I N , P R O P E RT Y J O U R N AL I ST

The first interesting thing to note about Prime Central London, and the properties that come with it, is that it’s growing. According to research from mortgage broker Henry Dannell, and reported in the Evening Standard, there are now 28 London neighbourhoods where the average house price is more than £1 million. The most expensive was, perhaps unsurprisingly, Norland Ward in Kensington & Chelsea, north of Holland Park and west of Notting Hill, where the median house price is £2.9 million. A further 12 of the £1m+ wards were in Kensington & Chelsea, London’s most expensive borough, with six in the second priciest, Westminster, where wards include Knightsbridge and Belgravia (average price £2,830,000) and the West End (£2,450,000).

which is the bank’s analysis on luxury London property, has some interesting figures, too. In the last 3 months of 2021, prime property prices increased 3%. And over a third of high-end London property is being sold at a discount, but buyers are getting less off the asking price – around 7% compared to 8% the previous year, and 13% three years ago. There is one universal trend across the capital - housing stock is still low, with the number of properties available for sale down 17% on the previous year – and new listings are down 12%.

Moving south of the river, ​​leafy Richmond was the most expensive ward outside the top two boroughs, with an average property price of £1.65 million. Prime Central London properties suffered, like so many places, during the pandemic. But with the easing of restrictions, overseas house hunters (who make up the lion’s share of buyers in PCL) returned. The Evening Standard amusingly noted that private air traffic at boujis and London commutable Farnborough Airport was up 62 percent in September 21, compared to the year before. Though what affect the recent conflict in Ukraine has had on this figure is now anyones guess. The Coutts London Prime Property Index,

So it’s competitive out there for buyers, and that’s definitely the case in South West London, where overseas buyers make way for the domestic market. “High demand and a shortage of available stock are supporting a rise in prices and a new record average asking price this month,” says Tim Bannister Rightmove’s Director of Property Data in a report earlier this year. “The rising cost of living is undoubtedly affecting many people’s finances, especially those trying to save up enough for a deposit to get on the ladder or to trade up. However, despite rising costs and rising interest rates, the data right now shows demand rising across the whole of Great Britain, with many people

62%

Increase in private flights to Farnborough airport

87% 92% 93% 2020

2021

2022

% of asking price achieved on Prime Central London property. determined to move as we head into the spring home-moving season.”

The conflict in Ukraine will undoubtably effect prices in Prime Central London in some way yet to reveal itself. Reportably some Russian businessmen have already off-loaded some of their real estate.

It’s hard to see how the demand for property will continue at this rate whilst the current climate unravels.

Surely would-be buyers may start to get skittish in bidding wars whilst there is another more real war going on not so far away. That said London is a most popular place to park your capital when the seas get choppy. Not to mention that old problem of lack of supply that doesn’t seem to go away.

It seems that buyers are still flush with deposits from cash saved during Covid restrictions. Meanwhile sellers have been spending on their properties and aren’t prepared to let them go at a discount. According to Zoopla 41% of British Homeowners changed their homes during the pandemic and spent over £36.5Bn in the process. So for the time being demand is high and sellers are very much still in the driving seat.

04

M ARKET DATA

Up, down or sideways?

Feast your eyes on this data from the property market for your lcoal area.

Data is compiled from a variety of sources including Rightmove.co.uk and PropertyData.co.uk. Sold price data refers to sold in the last year (unless otherwise stated). Listing data refers to current listings across the top three property portals, Rightmove, Zoopla and On the Market (March 2022).

Chelsea

£1,523 LIST

£1,544 SOLD

AV G . P R I C E F A L L / R I S E

£2,359,726 AV G . S O L D P R I C E MARCH 2022

+ 3.0% INCREASE ON MAR 2021

AVG . S O LD PR ICE S

£1,427,308

AVG . L I S T I N G P R I C E S £7m

T E R R AC E D

£4.15m

£3.5m

£9,847,083 S E M I - D E TA C H E D

3 YEAR

£6.94m

F L AT S

£4,486,800

T O TA L G R O W T H

£732k

£0

+3%

£2.68m

1

£1.29m

2

3

4

5+

BEDS

A V G £ / S Q . F T.

£6.94m

+7%

-6% 1 YEAR

5 YEAR

Kensington

£1,448 LIST

£1,426 SOLD

AV G . P R I C E F A L L / R I S E

£2,296,508 AV G . S O L D P R I C E MARCH 2022

+ 1.0% INCREASE ON MAR 2021

AVG . S O LD PR ICE S

£1,549,487

AVG . L I S T I N G P R I C E S £7m

T O TA L G R O W T H £6.69m

+3%

F L AT S

£4,286,740 T E R R AC E D

£3.7m

£3.5m

£6,045,833 S E M I - D E TA C H E D

£2.49m £764k

£0

1

£1.3m

2

3

4

5+

BEDS

A V G £ / S Q . F T.

+1%

+1%

1 YEAR

3 YEAR

5 YEAR

Notting Hill & Holland Park

£1,344 LIST

£1,338 SOLD

AV G . P R I C E F A L L / R I S E

£1,913,847 AV G . S O L D P R I C E MARCH 2022

+ 4.0% INCREASE ON MAR 2021

AVG . S O LD PR ICE S

£1,026,254

AVG . L I S T I N G P R I C E S £6m

T E R R AC E D

£3.27m

£3m

£683k

£0

1

£1.13m

2

3

+9%

+4%

£2.25m

£7,566,233 S E M I - D E TA C H E D

+10%

£5.59m

F L AT S

£3,522,898

T O TA L G R O W T H

4

5+

BEDS

A V G £ / S Q . F T.

1 YEAR

3 YEAR

5 YEAR

Fulham

£990 LIST

£935 SOLD

AV G . P R I C E F A L L / R I S E

£944,681 AV G . S O L D P R I C E MARCH 2022

+ 2.6% INCREASE ON MAR 2021

AVG . S O L D P R I C E S

£677,181

AVG . L I S T I N G P R I C E S £3m

£2.33m

F L AT S

£1,667,693 T E R R AC E D

£2,333,417 S E M I - D E TA C H E D

£2m £1m £0

T O TA L G R O W T H

+14%

£1.57m

£511k

1

£754k

2

+6%

£1.12m +2%

3

4

5+

BEDS

A V G £ / S Q . F T.

1 YEAR

3 YEAR

5 YEAR

Between the Commons

£881 LIST

AV G . P R I C E F A L L / R I S E

£912,723

AVG . S O L D P R I C E S S W 1 1

£688,540 £1,323,997 T E R R AC E D

+ 2.9%

SOLD

£2m

S E M I - D E TA C H E D

+4%

£1.81m

£479k

£0

+3%

£1.01m

£1m

£1,373,167

INCREASE ON MAR 2021

T O TA L G R O W T H

£1.58m

F L AT S

AV G . S O L D P R I C E MARCH 2022

£878

AVG . L I S T I N G P R I C E S

1

£705k

2

3

4

5+

BEDS

A V G £ / S Q . F T.

05

1 YEAR

+2% 3 YEAR

5 YEAR

Balham

£782 LIST

AV G . P R I C E F A L L / R I S E

£880,892

AVG . S O L D P R I C E S S W 1 1

£605,924 £1,167,103 T E R R AC E D

- 1.0%

SOLD

£2m £1.29m

£1m £414k

£1,609,353

INCREASE ON MAR 2021

S E M I - D E TA C H E D

T O TA L G R O W T H £1.6m

F L AT S

AV G . S O L D P R I C E MARCH 2022

£805

AVG . L I S T I N G P R I C E S

£0

1

£634k

£794m

2

1 YEAR

3

4

5+

BEDS

A V G £ / S Q . F T.

-1%

+17% +15%

3 YEAR

5 YEAR

Tooting

£697 LIST

AV G . P R I C E F A L L / R I S E

£569,192

AVG . S O LD PR ICE S S W 1 6

£407,828 £656,519 T E R R AC E D

- 1.0%

SOLD

£1.5m

£837,415

INCREASE ON MAR 2021

S E M I - D E TA C H E D

£1m £500k £0

T O TA L G R O W T H

+9% +9%

£1.35m

F L AT S

AV G . S O L D P R I C E MARCH 2022

£709

AVG . L I S T I N G P R I C E S

£917k

£709k

1 YEAR

£517k £384k

1

2

LONDON

3

4

5+

BEDS

A V G £ / S Q . F T.

-1%

3 YEAR

5 YEAR

SOUTH EAST ENGLAND

£787k

+1%

£436k

AVG . S O L D P R I C E

AV G . % P R I C E R I S E SINCE LAST YEAR

+5%

AV G . S O L D P R I C E

AV G . % P R I C E R I S E SINCE LAST YEAR

Earlsfield, Southfields & Wandsworth (SW18)

£768 LIST

£777 SOLD

AV G . P R I C E F A L L / R I S E

£811,828 AV G . S O L D P R I C E MARCH 2022

- 1.0% INCREASE ON MAR 2021

AVG . S O LD PR ICE S S W 1 6

£559,274

AVG . L I S T I N G P R I C E S £1.5m

F L AT S

£1,102,277 T E R R AC E D

£1,686,891 S E M I - D E TA C H E D

T O TA L G R O W T H £1.41m

+11%

£1.18k

£1m

£780k £588k

£500k £0

1 YEAR

£401k

1

2

3

4

5+

BEDS

A V G £ / S Q . F T.

-1%

+3% 3 YEAR

5 YEAR

Kingston & Surbiton

£680 LIST

£640 SOLD

AV G . P R I C E F A L L / R I S E

£645,430 AV G . S O L D P R I C E MARCH 2022

+ 3.0% INCREASE ON MAR 2021

AVG . S O LD PR ICE S S W 1 6

AVG . L I S T I N G P R I C E S

£421,023

£1.5m

£798,734

£1m

£1.37m

F L AT S

T E R R AC E D

£837,415

S E M I - D E TA C H E D

£500k £0

T O TA L G R O W T H

£778k

+15%

£1.06m

£467k

1

2

+16%

+3%

£336k

3

4

5+

BEDS

A V G £ / S Q . F T.

1 YEAR

3 YEAR

5 YEAR

06

PRIM E CEN T RAL

“Incredibly supportive and responsive throughout and even helped advise us on our onward purchase.

Highly recommend!”

Matt D

Cleveland Square, W2 £ 3, 500, 000 F OR SA L E / / CHR IS SHAW

Queens Gardens, W2

Portobello Road, W11

£ 2,95 0,000 SAL E AG REED

£ 2, 500, 0 0 0 F OR SA L E

// CH R I S SHAW

/ / CHR IS SHAW

Lexham Gardens, W8

Beaufort Gardens, SW3

£ 1 ,85 0,000 SAL E AG REED

£ 3, 6 50, 000 SA L E AGR E E D

// JE R E MY CR E AS O R

/ / J E R E MY CR E ASO R

07

Coleherne Mansions, SW5 £ 2,15 0,000 FOR SALE // JE R E MY CR E AS O R

A fabulous three bedroom raised ground floor apartment, forming part of this impressive Victorian block.

Langton Street, SW10

Trevor Place, SW7

£ 4,000,000 SO L D

£ 4 , 6 50, 0 0 0 F OR SA L E

// JE R E MY CR E AS O R

/ / J E R E MY CR E ASO R

08

PRIM E CEN T RAL / LON D ON

// JA ME S GI BLI N

An excellently located, architecturally designed and immaculately presented three bedroom terraced house with 1989 sq ft (185 sq m) of internal space and large garden. Broadway.

Inglethorpe Street, SW6

Brookville Road, SW6

£ 1 ,05 0,000 SALE AG REED

£ 1 , 050, 0 0 0 SA L E AGR E E D

// JA ME S GI BLI N

/ / JAME S G IBL IN

Shorrolds Road, SW6 £ 2,000,000 SO L D

09

Felden Street, SW6

Victoria Avenue, KT6

£ 2,5 00,000 SO L D

£ 6 00, 000 SA L E AGR EE D

// JA ME S GI BLI N

/ / R O B OATL E Y

Briardale Gardens, NW3

Lancaster Road, W11

£ 2,5 95 ,000 SALE AG REED

£ 1 , 6 9 5, 000 FOR SA L E

// A A R ON P OWD RIL L

/ / AAR O N POWDR IL L

“World-class service and stressfree experience.”

Carlwell Street, SW17 £ 625 ,000 SALE AG REED // S I MON A R MI TAG E

Mr S. A.

10

LOND ON

“We used Moveli last year when selling our property.

Result: a speedy sale at a better than expected price.

Highly recommend!”

David L

Dafforne Road, SW17 £ 1 , 6 50, 0 0 0 SOL D / / SIMO N AR MITAG E

Louisville Road, SW17

Sudbrooke Road, SW12

£ 800,000 SOL D

£ 2, 20 0, 000 SOL D

// S I MON A R MI TAG E

/ / PAUL CL APPISO N

Broxash Road, SW11

Taybridge Road, SW11

£ 1 ,5 00,000 FO R SALE

£ 1 , 325, 0 0 0 SOL D

// PAU L CLA P PIS O N

/ / PAUL CL APPISO N

11

Dulka Road, SW11 £ 1 ,67 5 ,000 SALE AG REED M

An outstanding five-bedroom Victorian house on one of the most highly sought after roads ‘Between the Commons’.

// PAU L CLA P PIS O N

Mysore Road, SW11

Gorst Road, SW11

£ 1 ,425 ,000 SO L D

£ 2, 50 0, 000 FOR SA L E

// PAU L CLA P PIS O N

/ / PAUL CL APPISO N

12

LOND ON

// JA ME S WE STO N

This is a beautifully presented house that has been thoroughly renovated and redesigned by the current owners to provide something modern and elegant whilst still retaining the period features.

Marham Gardens, SW18

Leckford Road, SW18

£ 1 ,45 0,000 SALE AG REED

£ 1 , 075, 0 0 0 SOL D

// JA ME S WE STO N

/ / JAME S WE STO N

Hendham Road, SW17 £ 2,000,000 SO L D

13

Swaby Road, SW18

Oakhill Road, SW15

£ 1 ,1 00,000 SAL E AG REED

£ 1 ,1 25, 000 FOR SA L E

// JA ME S WE STO N

/ / DAVID MCG UINNE SS

Falcon Wharf, SW11

Mexfield Road, SW15

£ 1 ,7 5 0,000 FO R SALE

£ 1 , 350, 000 FOR SA L E

// DAV I D MCGUIN N E S S

/ / DAVID MCG UINNE SS

Switch House East, SW11 £ 880,000 FO R SALE // DAV I D MCGUIN N E S S

“We would highly recommend Moveli if you are keen on a stress-free, efficient and effective process.”

T. Miah

14

LOND ON LE T T IN GS

“Really professional, highly experienced and with a great eye for detail. Sam was a key reason in finding such good tenants for us - they also commented on how much they liked dealing with her.”

Geoff S

Randolph Crescent, W9 £ 5, 200/ M ONT H TO L ET / / SAMANTHA AL L E N

Sloane Gardens, SW1W

Gowan Avenue, SW6

£ 15 ,000/MONTH TO L ET

£ 7, 500/ M ONT H L ET

// SA MA N T HA AL L E N

/ / SAMANTHA AL L E N

Broomwood Road, SW11

Wroughton Road, SW11

£ 5 ,416/MON TH L ET

£ 4 , 50 0 / M ONT H L ET

// SA MA N T HA AL L E N

/ / SAMANTHA AL L E N

15

For expert advice on your sale or let contact us today

Jeremy Creasor

David McGuinness

Kensington & Chelsea

Balham

25 Years Experience

25 Years Experience

Chris Shaw

Aaron Powdrill

Notting Hill & Holland Park

North Kensington & Hampstead

25 Years Experience

10 Years Experience

Paul Clappison

James Weston

Battersea & Clapham

Earlsfield & Southfields

17 Years Experience

18 Years Experience

Robert Oatley

Simon Armitage

Kingston & Surbiton

Tooting

16 Years Experience

30 Years Experience

James Giblin

Samantha Allen

Fulham

Head of Lettings

14 Years Experience

15 Years Experience

020 3150 0733 hello@moveli.co.uk

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