A look at the luxury London property market
According to Coutts more homes worth £1 million+ sold in London from April to June than in any other three-month period since their records began in 2013, writes Clive Scrivener, Founding Partner at Scrivener Tibbatts the Wimbledon based chartered surveyors.
The number of sales – 994 – was over 11% higher than the previous peak in 2014, when the market was booming, and up almost 200% compared to Q2 2020. Although that’s after the market effectively shut down due to Covid.
Some of the sales hikes in specific areas are eye-popping. For example, the number of properties sold in Fulham & Earl’s Court was up 339% on the same time last year. Even if you take the pandemic out of the equation by comparing it to Q2 2019, it’s still up 60%.
All the latest numbers come from their quarterly review of the market – the Coutts London Prime Property Index (CLPPI) – which reveals what’s happening area-by-area.
If you would like to discuss something related to a property valuation please contact Clive Scrivener, Partner, direct via email at Clive@scrivenertibbatts.co.uk or call 020 8971 2983.