News In brief
Velocity Estates
Prime London prices rise for fifth
full speed ahead
consecutive month
for Sheffield
student tower
Velocity Estates has won
planning permission for
an 18-storey student
accommodation tower at its
Velocity Tower site in Sheffield.
The site is already home to a
completed 22-storey residential Residential prices in prime central “Since the market improvement
tower. The planning is a change London rose for the fifth consecutive in April – it has been the lower
of use consent, as the site already month, leading to a boom in sales end of the market which has led
had permission for an 18-storey volumes, according to a new report the recovery. Prices in the £1m to
aparthotel next to the completed from Knight Frank. £2.5m market have risen more
residential tower.
The Knight Frank Prime Central
than five per cent in the last three
Velocity has changed the planning London Residential Index for August
months, compared to only 2.4
to adapt to market demand. 2009 has recorded a price rise
per cent for the £10m+ market.
Residential Manager for Velocity
of one per cent, which is the fifth
Houses continue to outperform flats
Estates, Suzanne Wright, said:
consecutive monthly rise. Prices are
– with three-month price growth
‘The planning we have secured at
now 6.4 per cent higher than they
up by 4.6 per cent and 3.6 per
Velocity Tower is yet another vote
were in March of this year.
cent respectively.”
of confidence for the development The rising prices have led to an
James Pace, partner and head
and will allow us to once again increase in sales volumes, which
of Knight Frank Chelsea, added:
adapt to the changes in market are up 90 per cent compared to
“Whilst sales volumes during the
trends. January 2008, and up 234 per
last three months are up by 65
cent compared to August 2008.
per cent year on year, we have
‘Having recognised a strong
very limited stock. Our stock levels
demand within the city for a Liam Bailey, head of residential
are 50 per cent lower than what I
student cluster scheme, Velocity research, Knight Frank,
would expect to have at this time
Tower presented the ideal location commented: “Price growth has
of year. For would-be vendors who
and the student tower will be a been driven by the significant
have been watching the market,
welcome addition to the broad bounce in prices in Chelsea,
I hope that the buoyant autumn
residential services we already Kensington and St John’s Wood –
market will motivate them to
provide to the people of Sheffield.’ where prices have risen by five per
sell as the demand is there.
cent in the last three months alone.
Source: Propertyweek.com
Source: Primelocatio.com
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32