Newsletter summer 2021 – David London Property Team

Some of the international buyers / investors are back:

Hong Kong residents bought almost one billion £ (939.874.000 million £) worth of homes in London after UK opened path to citizenship in July

Hongkongers accounted for 8.5 per cent of home purchases by foreigners in prime central London last year, the second largest group alongside the Chinese and Americans.

Source: South China Morning post 04 / 06 / 2021

London sales market March to May 2021

We are focusing on 4 specific areas :

West Kensington (W14),

Chelsea : West Brompton (SW10) + Earl’s Court (SW5)

and Fulham & Parsons Green (SW6)

79,9% of properties takes more than 3 month to be sold

63.8% of the properties have been on the sales market for over three months

46,1% of properties currently available for sale have been on the market for more than six months

Achieved prices per square foot have decreased by 2,0% for flats over the last year, and have increased by 6,6% for houses

44,2% of properties on the sales market have been reduced in price

Source: LonRes figures

There is a big boom of house prices in England.

« The total value of homes sold in the UK is expected to reach £461 billion in 2021, a jump of 46% since 2020 ». In May, the Office for National Statistics said average UK house prices in March had increased by 10.2% – the highest annual growth rate since August 2007, before the financial crisis hit.

Source: The Guardian 26/05/2021

During the pandemic 2020/2021 a lots of people try to renovate their homes with home improvments and it increases the price of the houses. « with Heal’s reporting 69 per cent of Britain’s households had spent up to £5,000 on home improvment during the pandemic.»

Source: Evening Standard 01 / 05 / 2021

Regarding Brexit, from the 30 of June 2021, Europeans who used to work in London for temporary work will need a seasonal visa according to the government website. Maybe they will be less numerous to come back. They will therefore probably rent less flats and it will affect more the letting market. Source: gov.uk

Another issue appears here with the new visa for internship, it causes disfunction to company who hired intern with a sponsorship certificate now required as Augustin and Marie from France and REMAX London Central.

Locally

Local Expert and Leader in Fulham & Chelsea

London Kensington & Chelsea Mayor Award Winner !

(COVID Response)

Fulham reach , Faulkner House, London W6 9AE, England

An exclusive London address in a truly privileged position. Set in beautifully landscaped gardens beside one of the most dramatic stretches of the River Thames, these elegantly designed 2 bed 3 baths apartments with your own terrace with river view, offer all the advantages of a distinctive lifestyle in superb surroundings within easy reach of Central London

£1,240,000 GBP