The price of luxury property in London grew by £260 a day in 2014

The average price of luxury property in London grew by £260 a day over last year. District and Balham saw the biggest jump in prices last year – by 21% during the year.

Main growth of prices for elite real estate of London in 2014 came in the first half of the year. Over the last quarter prices actually fell by 1.6% . It was the first drop in prices since the second quarter of 2011.

The data presented in the report of the company Marsh & Parson, show that the supply in the market of elite real estate of London increased by 26% in the last quarter of 2014 and new year 2015, we will likely see an increase in demand. The average expected 13 potential buyers for every available property on the market of elite real estate of London.

The average price of a luxury home or apartment has increased by £95000 last year. In the area of Balham, the average price increased by £152000 for the same period.

Average real estate prices in London outside the elite areas 25% lower than traditional luxury Central regions. This fact contributed to strong demand for areas outside the centre throughout 2014, resulting in a luxury property in these areas rose in price by 9%, while luxury properties in Central London rose by 4.3%.

The area of Balham was chosen by young families and first-time buyers bought their homes. Followed the Brook Green area, where housing prices rose by 19% last year.

The average price in such well-known areas such as Kensington and Holland was Regcodes 8 %.

Prestigious bastions of London, Kensington, Chelsea and Holland Park will always be the object of attracting capital from all over the world, however, many investors bet on more affordable housing, this is the essence of the success of the area of Balham. Londoners looking for a compromise on the price and willing to sacrifice the heart of the capital for the sake of increasing the area.

For clarity, we give the following figures: the average price of luxury property in London now stands at £1572343 in elite areas £2199531 in areas outside Central London – £1180348.

The increase in supply of new housing by 26% in Q4 2014 most likely, will lead to the normalization of prices in 2015. Competition in the market for affordable objects will decrease, which will allow buyers feel more comfortable. Meanwhile, according to the forecast of Marsh & Parson, in 2015 the property sector will see a growth of 3% – 5 %.

The real estate market inherent cyclicality. After a very turbulent first half of 2014, when buyers in the real estate market of the London fought for each object, a period of stabilizing prices. The sellers selling the items for about 96% of the asking price. In 2015, experts do not expect sharp price hikes on the market. But after parliamentary elections in may 2015, the activity of buyers will return, as risks associated with political uncertainty a thing of the past.

® Maxim Savitsky. 28.01.2015 G.

KNIGHTSBRIDGE, LONDON SW1X – £8,750,000

MONTPELIER MEWS, KNIGHTSBRIDGE SW7 – £9,500,000

THE BELVEDERE, CHELSEA HARBOUR SW10

HANS PLACE, KNIGHTSBRIDGE SW1X – £ 14500000

BERNERS STREET, FITZROVIA W1T – £1,995,000

BROMPTON ROAD, KNIGHTSBRIDGE SW3- £1950000

FITZJAMES AVENUE, WEST KENSINGTON W14 – £ 2,300,000

IMPERIAL CRESCENT, IMPERIAL WHARF SW6 – £ 4,550,000

THE KNIGHTSBRIDGE, LONDON SW7 – £ 2,950,000

HANS COURT, HANS ROAD SW3 – £ 13,950,000

ONE HYDE PARK, 100 KNIGHTSBRIDGE SW1X – £5,600,000