Prime London Property price estimates

[drbubb]

Prime London Property price estimates

Prices expressed as Pounds per sq foot

==========================

 

At the Peak ?? / With Rightmove's Greater London at $xxx,xxx (Oct. 2010)

 

Location===== : GBP Per sf

Mayfair---------- : 16,000 +

South Ken. ----- : 13,000- 14,000

Kensington ---- : 12,000- 13,000

Nottinghill ------ : 12,000

Marylebone ---- : 11,000- 12,000

Covenant Gdn. : 10,000- 11,000

Padding. Basin- : 9,000

============

 

"Most properties in London will get you about a 5% return, but less in the really prime areas."

 

(per an experienced agent visiting London, on his twice annual trips.)

 

 

Websites for checking property prices

======

http://Globrix.com

http://PrimeLocation.com

http://FindaProperty.com

[drbubb]

(First Posted on GF's Property thread on the Main board):

 

London is Hanging on - so far

 

RIGHTMOVE's Big Drop announcement:

+ November sellers cut their asking prices by 3.2%, the biggest monthly drop since December 2007

+ Falls now recorded in 4 out of the last 5 months, as year-on-year price growth heads for zero

The really surprising thing to me was that London asking prices held up so well - down only -0.4%

 

What do you think the smaller drop in London actually means?

Reality is slow in coming to the Big Smoke

... because of "hot air" and rising rents, I suppose.

Or maybe because London is better at attracting gullible foreigners*.

 

Let's give it a few more months.

== ==

 

*Actually, this weekend they brought to HK a new developed by Berkeley / St. George:

A place called Dickens Yard - prices sought were about Pds. 600 -650 psf - For Ealing Broadway!

 

/see: http://www.cabe.org.uk/design-review/dickens-yard

 

That looked very expensive to me. But one of the agents gave me "his" prices for Central London.

And that was about half of the numbers he was quoting, so it made a bit more sense.

 

The think that intrigued me was West Rail, and that this new project will be right next to a West Rail stop,

which I think will be completed in about 2017 - is that right.

 

If I did have such a Bearish view of UK property over the next 2-3 years, and I thought prices would

be "flat to up", I might have taken a very close look.

 

London's new infrastructure should help support property, but I think the undermining from Housing benefit cuts,

fewer jobs, and a return of a global financial crisis, will more than undermine the infrastructure stimulus.

 

If things get really bad, some of that infrastructure may get delayed, or even cancelled.

[drbubb]

LONDON'S FALLING - Let's acknowledge that! - and Kensington's cold as ice

 

Mo.: Rt'mov : London : Hometrack %/ Nt'wide H-oldSA Halif.SA Hal.NSA: HNindex : mom : DelusIdx

2011

J. : : 223,122 : 413,259 : 154,300 - 0.5% / 161,211 = n/a = 164,173 161,470 : £161,341 :- 0.33% :138.3% :

F. : : 230,030 : 430,680 : 154,000 - 0.2% / 161,183 = n/a = 162,657 161,680 : £161,432 :+ 0.06% :142.5% :

M : : 231,790 : 424,307 :

=====================================

mom : + 0.8% : - 1.5% : Est.DI: 143.6% /: -0.02%: = n/a = : -0.92% : +0.13%

 

London’s Worst Performers March 2011

London's BOTTOM 5

-------------------- Avg. Price : Mar 2011 / Feb 2011

================================== : Monthly Change

Ealing----------------------------- £397,393 -- £418,898 : -5.1%

Bromley-------------------------- £321,739 -- £339,139 : -5.1%

Kensington and Chelsea £1,776,895 £1,870,082 : -5.0%

Merton--------------------------- £403,916 -- £424,510 : -4.9%

Enfield--------------------------- £315,561 -- £331,418 : -4.8%

 

This this info to your London Estate agent, especially if he is trying to sell you a new property in Ealing

 

Dickens Yard, Ealing Broadway

 

Psst! Want to buy some overvalued London property ??

 

/see: http://www.rightmove.co.uk/developer/branch/St-George/Dickens-Yard-75079.html