As a growing London property luxury

Influential British real estate Agency Savills, which specializiruetsya on the market of elite housing, sums up the year. Prices on the London market of elite housing for the first time in three years saw double-digit annual growth. Moreover, the main buyers and investors of luxury real estate have become citizens of the UK, contrary to popular belief, that the property market in the UK is rising mainly due to foreign investors. For the last quarter of price growth for elite real estate increased 2.9% and annual growth of 11.4%, thus exceeding all expectations of growth.

According to the Agency , it is expected that next year the growth of prices for elite real estate of London will be mostly at the expense of UK citizens, and there has been a trend in favour of strong regional growth. Wealthy people increasingly prefer to get out of the capital , preferring to be closer to the natural environment and away from the stresses of the metropolis.

In London the growth of luxury housing was the South-Western part of London areas of Fulham, Wandsworth, Clapham, Battersea, showing a record annual growth rate of 14% . The areas located outside of Central London, but they caught the fancy of young families with incomes applying for life Victorian located close to prestigious schools, green spaces, parks and a variety of facilities that provides smart infrastructure.

Luxury housing market in Central London has demonstrated moderate growth at 7.9%. Next year is expected to increase 6 % in this market segment. And the ultra-expensive housing in Central London where the price of the object is approximately 15 million pounds , showed an increase in growth of just 2.1% over the past year. However, the movement in the market of ultra-luxury housing has been dynamic as a consequence of the very strong movements of the market in previous years, when the market for ultra-luxury housing has exceeded its pre-crisis levels of 37%.

The fastest growing price in the area of London over the past growth has becomeMarylebone , rising 17.4% year on year. He was attractive for both foreign and local investors due to the reasonable prices compared to Central London. For comparison, prices in Marylebone are still £1500 pounds per square foot in Central London, prices start from £2,000 pounds per square Foot, in rapone Fulham – £1000 pounds per foot. A good example of how as the area becomes more valuable, and the peripheral area becomes elite.

In January 2013, the regional market was in anticipation of growth, but subsequent months have shown, let a slow but steady movement of prices up 3%. However, there is a significant difference between urban and suburban real estate., in particular, cities such as Oxford, Cambridge and Winchester clearly felt part of the London capital and the growth of their own economies, as a luxury property in them has risen by 10.9% yoy. And the prices for country real estate increased by only 2.8%.

The impact of the introduction of 7% stamp duty makes itself felt especially in the regional markets, sharing the estate according to the criterion of more expensive and cheaper £2 million pounds. If London without much effort swallowed this fee, the regional markets make it harder and buy move in the lower price segment.

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Mayfair – the most expensive address in London

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