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PRIMERESI JOURNAL - THE JOURNAL OF LUXURY PROPERTY
PRIMERESI IS THE LEADING NEWS, INSIGHT AND OPINION RESOURCE FOR THE UK’S LUXURY PROPERTY SECTOR, PROVIDING DAILY BREAKING NEWS AND ANALYSIS ON PRIME RESIDENTIAL MATTERS.
Majority of £1m-plus sales are now happening outside of London
The capital’s share of the high-value market has fallen below half for the first time on record.
House prices have risen ten times faster than flat prices since the start of the pandemic
Apartments across Great Britain are looking like good value, says Rightmove, at least when compared to detached houses, which have seen average asking prices rocket over the past 18 months.
Prime property prices outpace mainstream markets in global cities
“We expect the prospect of rising interest rates, government intervention and the withdrawal of stimulus measures to rein in the market’s exuberance in the second half of 2021,” says Knight Frank, as property prices climb in prime global cities.
Leafy Notting Hill leading the way as PCL revives
Prospective Hillbillies are offering up to £1m above pre-pandemic levels, and houses are not even making it to the open market, reports Winkworth.
UK prime resi prices set to rise 9% this year, but PCL’s bounce ‘has been delayed’
Runaway property price growth in the regions is likely to soften from next year, predicts Savills, while Prime Central London prices are set for a sharp upwards bounce once international travel resumes.
‘Demand is through the roof’: Booming British film industry is good news for landlords
Hollywood stars and their production teams are an increasingly important source of deals, says Knight Frank.
Asking prices dip as top-end property markets cool
Asking prices have fallen for the first time this year, driven by declines at the top-end, but Rightmove is predicting an Autumn bounce for the property market.
Holland Park locals given six months to ‘save’ Notting Hill Police Station for community use
A Holland Park landmark on Ladbroke Road is being marketed for sale by the Mayor’s Office of Policing & Crime. Local community groups are being given the chance to bid for the building before it’s offered to developers on the open market.
Major property companies enjoy pandemic-induced revenue boom
Property PLCs including Rightmove, Savills, Foxtons, LSL, Connells, Purplebricks, OnTheMarket and Berkeley Group have seen huge increases in revenue compared to corresponding periods in both 2020 and 2019.
Purplebricks ditches self-employed agent model
Hybrid estate agency Purplebricks is overhauling its business model, transitioning its network of local sales agents from self-employment to fully employed status.