Over the past 12 months, price growth in prime central London has totalled 7%, with the strongest price growth seen in the sub-£1m price bracket. The biggest price rises during June were seen in Islington (1.1%), Marylebone (1.1%) and the South Bank (1.5%).
Property prices in prime central London continued to rise in July and now stand almost 60% above their financial crisis low in March 2009. Head of Research, Liam Bailey, examines the latest trends, which point to total growth in 2013 of 6%. See attached report for full comment and breakdown.
Commentary from Christian Lock-Necrews, the Head of Knight Frank’s Marylebone office:
“For a central location in the greatest city in the world, Marylebone still offers good value in the £1m+ category to British buyers and those from abroad. An eclectic community with a hugely popular destination high street and a recent offering of the highest quality product at 25% less than other PCL boroughs has altered the buyer perception of Marylebone and Fitzrovia. They are attracted to an area that retains its community feel but has world class shopping, access to London’s great parks and is in the heart of the West End.”
