st john’s wood market insight 2018 - knight frank...swiss cottage nw8 0 nw8 6 7 nw8 9 w9 1 nw8 8...
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Contains OS data © Crown Copyright and database right 2017
Swiss Cottage
EustonMaida Vale
Lisson Grove
Marylebone
Baker Street
Lord's Cricket Ground
Little Venice
Regent's Park
ST JOHN’S WOOD MARKET INSIGHT 2018
FIGURE 1 Maximum property prices in St John’s Wood Achieved prices, 12 months to April 2018 Circles can denote multiple sales in the same postcode, in which case the highest value is displayed
Source: Knight Frank Research / LonRes / Land Registry
Up to £750,000
£7500,000 to £1m
£1m to £2m
£2m to £3m
£3m+
St John’s Wood market update Across prime central London, the £5m-£10m price bracket was the only section of the market that recorded price growth in the year to May. Furthermore, sales volumes at this price point grew 12% in the year to March, LonRes data shows. This outperformance suggests asking prices in higher-value markets have largely adjusted to take into account higher stamp duty costs, a pattern that is reflected in St John’s Wood. As figure 4 shows, sales volumes in the typically higher-value areas of N1 4, around Regent’s Park, and NW8 0, which includes Avenue Road, rose last year.
James Simpson, St John’s Wood Office Head “Prices in St John’s Wood have re-based and the majority of properties on the market are now correctly priced. Following this adjustment, transaction volumes have stabilised. However, we are witnessing a new norm for trading conditions, with demand typically centred around domestic and international buyers who are driven by needs such as schooling and downsizing rather than investor landlords. Buyers and sellers are used to the St John’s Wood market bouncing back after a slowdown, which happened following the global financial crisis. However, it is different this time and pricing and sales volumes are stabilising in a more steady manner as confidence returns. ”
FIGURE 2
St John’s Wood fact sheet
Population: 75,636
Source: Knight Frank Research / Land Registry
AVERAGE PRICEYear to February 2018 £1,111,020Year to February 2017 £1,064,510Year to February 2016 £1,015,140
£1 MILLION-PLUS SALESYear to February 2018 287Year to February 2017 288Year to February 2016 428 £2 MILLION-PLUS SALESYear to February 2018 141Year to February 2017 142Year to February 2016 165
BLUE PLAQUES Alan Turing, Mathematician, Computer Scientist Madame Marie Tussaud, ArtistSir Henry Wellcome, PharmacistH.G Wells, Writer
AGE OF HOUSING STOCK
Pre-1900
1900-1939
1945-1972
1973-1999
2000-present
28%
22%
28%
14%
7%
STOCK BY PROPERTY TYPE
Source: Knight Frank Research
Flat
Terraced
Semi-detached
Detached
92%
5%
2%
1%
Important Notice © Knight Frank LLP 2018 - 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.
ST JOHN’S WOOD MARKET INSIGHT 2018
RESIDENTIAL RESEARCH
LONDON RESIDENTIAL
James Simpson St John’s Wood Office
Head +44 20 7483 8346
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]
Source: Knight Frank Research / LonRes / Land Registry
FIGURE 5 Transaction volumes and pricing data
0
50
100
150
200
250
300
350
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
Q4-
2017
Q1-
2018
Tota
l sal
es
Ave
rage
pric
e
£35m £32m £36m £40.3m £9m £25m £19.2m £18.4m £24.9m £14.9m £12.3m £44m £16.5m £13m £19m £19m £9.8m
£800,000
£1,000,000
£1,200,000
Total sales Total sales (incomplete) Average price Maximum price
Contains OS data © Crown Copyright and database right 2017
Swiss Cottage
NW8 0 NW8 6
NW8 7NW8 9
W9 1 NW8 8NW1 4
NW8 0 NW8 6
NW8 7NW8 9
W9 1 NW8 8NW1 4
EustonMaida Vale
Lisson Grove
Marylebone
Baker Street
Lord's Cricket Ground
Little Venice
Regent's Park
FIGURE 3 Maximum £ per sq ft prices in St John’s Wood Achieved prices, year to April 2018
Circles can denote multiple transactions in the same postcode, in which case the highest value is displayed
Source: Knight Frank Research / LonRes
Year to February 2018 Year to February 2017
FIGURE 4 Sales volumes by neighbourhood
Source: Knight Frank Research / LonRes / Land Registry
Up to £1,000 £1,000 to £1,250 £1,250 to £1,500 £1,500 to £2,000 £2,000-plus
NW1 4 NW8 0 NW8 6 NW8 7 NW8 8 NW8 9 NW8 9
28 53 4675 54
106 145
3059 58 72
3699 130
£2,518,390 £3,285,810
£814,300£1,277,670
£1,652,230£1,669,300
£1,449,580£1,518,890
£737,590£667,150
£1,308,960£11,949,690
£1,018,400£961,420A
vera
ge
sale
pric
e