rowth
Central London - most popular reasons to move
December - February 2011 (%)
20.0 2009 2010 e* 2011 e* 2012 e* 05
% -4.8% 1.5% 1.8% 2.1% % 2.9% 3.4% 3.6% 2.1% % 2.4% 4.7% 4.5% 3.2% 1.63
1.48 1.58 1.54
% 0.50% 0.50% 1.00% 2.10% dependent forecasts
Market Analysis Spring 2011
10.0 15.0
0.0 5.0
Signs of recovery but Christmas slump takes toll on prices
New Instructions to Sell
1% 1% 2% 54 0%
Demand for large family properties caused average asking prices for Winkworth properties in London to rise between August and November 2010. However low demand from buyers over the Christmas period due to lack of confidence and adverse weather conditions had an impact on prices in the capital. Average prices for properties across the whole of London fell 3% between November and December to £534k and remained relatively flat in January at £533k. The New Year rise in the number of new buyers, however, helped the market recover some of its ground with prices lifting 2% to £543k in February. However average prices across all of London remain significantly below prime central London prices where the average property asking price is now £859k. (Figure 9)
20.0
10.0 15.0
0.0 5.0
20.0
10.0 15.0
Strong demand aids seasonal pickup in sales
0.0 5.0
As we discussed in the last market report, the volume
Figure 9 London - average asking prices
£450k £470k £490k £510k £530k £550k £570k
Central L 8 Market Analysis Spring 2011 300
London -Sales Agreed Jan2009 = 100
10.0 15.0
Figure 10 London - sales agreed Jan 2009 = 100
100 150 200 250 300
50
London -Sales Agreed Jan2009 = 100
10.0 15.0
5.0
10 20 30 40 50
London - Time to Sell (WEEKS)
of sales agreed is often determined by seasonal factors and this has held true over the last three months. The Christmas slowdown, exacerbated by the weather and economic uncertainty, led to December having the lowest number of sales agreed since January 2009. However, the traditional New Year recovery in sales was aided by the injection of new buyers into the market in January and February. (Figure 10)
0 20.0
10.0 15.0
0.0 5.0
Avarage Asking Prices - London London - Viewings before Sale Agreed
The traditional New Year recovery in sales was aided by the injection of new buyers into the market
£450k £470k £490k £510k £530k £550k £570k
100 120 140 160 180 200
20 40 60 80
0 Central London - Sales A London - Viewings before Sale Agreed London - Time to Sell (WEEKS) Sales Appraisals Central London - Sal
Central London - Prosp Jan200
100 150 200 250 300
100 120 140 160 180 200
50 0
20 40 60 80
0
Central London
Avarage Asking Prices - London
-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11
10
May-10 Jul-10 Sep-10 Nov-10 Jan-11
More desirable area Emigration
10
May-10 Jul-10 Sep-10 Nov-10 Jan-11
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11
Upsizing Downsizing
Relocation due to work Death
M Relo
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Ja
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Ja
Jan-09 Mar-09 May-09 Jul-09 Sep-09
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-0
Jan-09 Mar-09 May-09 Jul-09 Sep-09
Price (£)
Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10
Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11
Price (£)
Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10
Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11
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