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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