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Contains OS data © Crown Copyright and database right 2017
Charing Cross
Bond Street
Oxford Street
Tottenham Court Road
Leicester Square
Soho
St James’sSquare
Green Park
St James's ParkBuckingham Palace
Hyde ParkPark Lane
Regent Street
Curzon Street
Mount Street
Grosvenor Square
Berkeley Square
Hyde Park Corner
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MAYFAIR AND ST JAMES’S RESIDENTIAL MARKET INSIGHT 2017
FIGURE 1 Residential property prices in Mayfair, St James’s and surrounding area Recent pricing evidence, two years to August 2017
Source: Knight Frank Research / Land Registry / LonRes
FIGURE 2 Mayfair fact sheet Population: 15,649
BLUE PLAQUES Benjamin Franklin Statesman, Scientist Rudyard Kipling Poet, Author
AGE OF HOUSING STOCK
l Sub-£2.5m
l £2.5m to £5m
l £5m to £10m
l £10m to £20m
l £20m-plus
Pre-1900
1900-1939
1945-1972
1973-1999
2000-present
50%
12%
12%
14%
12%
SALES BY PROPERTY TYPE £1,000,000-plus sales, two years
to April 2017
Flat
Terraced 7%
93%
Source: Knight Frank Research / Land RegistrySource: Knight Frank Research / Valuation Office Agency
PCL market update There has been a steady recovery in transaction volumes in prime central London in 2017 as asking price reductions stimulate demand. The number of exchanges was 5% higher in the first seven months of 2017 compared to the same period in 2016. However, the process has not taken place in a uniform way across all markets and price sensitivity remains high. Price declines continue to show evidence of bottoming out. Prices fell -0.2% in August and annual growth was trimmed to -5.4%, which was the lowest rate since November 2016.
Harvey Cyzer, Mayfair Office Head “Our view remains that buyers have become more phlegmatic over the course of the year regarding issues such as Brexit and stamp duty as there is a desire to get on with their lives. Buyers are still paying good prices for best-in-class property and turnkey apartments are performing strongly. There remain positives in the marketplace, Mayfair is still a world-renowned destination and other factors such as currency fluctuations still entice a wide range of buyers to the area.”
Charing Cross
Bond Street
Oxford Street
Tottenham Court Road
Leicester Square
Soho
St James’sSquare
Green Park
St James's ParkBuckingham Palace
Park Lane
Regent Street
Curzon Street
Mount Street
Grosvenor Square
Berkeley Square
Hyde Park Corner
Charing Cross
Bond Street
Oxford Street
Tottenham Court Road
Leicester Square
Soho
St James’sSquare
Green Park
St James's ParkBuckingham Palace
Park Lane
Regent Street
Curzon Street
Mount Street
Grosvenor Square
Berkeley Square
Hyde Park Corner
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MAYFAIR AND ST JAMES’S RESIDENTIAL MARKET INSIGHT 2017
RESIDENTIAL RESEARCH
Source: Knight Frank Research / Land Registry / LonRes
FIGURE 3 £/PSF in Mayfair, St James’s and surrounding area Recent pricing evidence, two years to August 2017
Source: Knight Frank Research / LonRes
0
10
20
30
40
50
60
70
80
Q1-
2014
Q2-
2014
Q3-
2014
Q4-
2014
Q1-
2015
Q2-
2015
Q3-
2015
Q4-
2015
Q1-
2016
Q2-
2016
Q3-
2016
Q4-
2016
Q1-
2017
Q2-
2017
Q3-
2017
£18m £30m
£65m £60m£44m
£90m
£25m £27m£45m £51m
£22m £32m £33m£21m £25m
£1,000,000£2,000,000£3,000,000£4,000,000£5,000,000
FIGURE 5 Transaction volumes and pricing data
Total sales Total sales
(incomplete) Average price Maximum price
Year to August 2015 Year to August 2016 Year to August 2017
FIGURE 4 Sales volumes by neighbourhood
Source: Knight Frank Research / Land Registry / LonRes
LONDON RESIDENTIAL
Harvey Cyzer Mayfair Office Head +44 207 647 6608
Alastair Nicholson Mayfair Sales +44 20 7647 6612
Ian Pidgeon Prime Central London Developments +44 20 7861 1302
RESIDENTIAL RESEARCH Tom Bill Head of London Residential Research +44 20 7861 1492 [email protected] PRESS OFFICE Harry Turner +44 20 3861 6974 [email protected]
Important Notice © Knight Frank LLP 2017 - This report is published for general information only and not to be relied upon in any way. Although high standards have been used in the preparation of the information, analysis, views and projections presented in this report, no responsibility or liability whatsoever can be accepted by Knight Frank LLP for any loss or damage resultant from any use of, reliance on or reference to the contents of this document. As a general report, this material does not necessarily represent the view of Knight Frank LLP in relation to particular properties or projects. Reproduction of this report in whole or in part is not allowed without prior written approval of Knight Frank LLP to the form and content within which it appears. Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names.
l Sub-£2,000 l £2,000 to £2,500 l £2,500 to £3,000 l £3,000 to £5,000 l £5,000-plus
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33 52
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