House prices in London rise by 7%

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1 What the papers say

2 House prices in London rise by 7% 2nd January 2013 House prices in London rose by 7% in the year to the end of October, far outstripping increases elsewhere. The Land Registry figures show some startlingly high price increases in some of the wealthier parts of London, driven by the continued influx of money being invested by foreigners seeking a safe home for their cash. 10% INCREASE The biggest increases have been in Kensington & Chelsea (up by 16%), Westminster (15%) and Hammersmith & Fulham (10%) Hammersmith & Fulham

3 London Residential Review Summer 2013 The currency edition A heady cocktail Price performance Assessing the impact of the weak pound on the prime London property market, now and in the future Against an all too familiar backdrop of economic turmoil in Europe and ongoing weak economic performance in the UK, the prime London property market has continued to prosper. Prime central London price growth, based on 1m invested in March m An appetite for tangible investments, ultralow interest rates and a weak pound help make up the perfect ingredients for that heady cocktail the safe haven investment. Average prices for prime property in London have risen by 57% since March 2009, with a 7.7% increase in the 12 months to April this year (figure 1). London s price growth compares favourably with other leading global cities such as New York and Singapore, which have seen -26% and 45% price growth respectively over the four years since March m 1.4m 1.3m 1.2m 1.1m 1.0m Mar 09 Aug 09 Jan 10 Jun 10 Nov 10 Apr 11 Sep 11 Feb 12 Jul 12 Dec 12 Apr 13 Liam Bailey, Global Head of Residential Research Source: Knight Frank Residential Research

4 This is.co.uk M NEY FINANCIAL WEBSITE OF THE YEAR Property in London s hottest price spots thisismoney.co.uk 9th September 2011 Andrew Oxlade Prices of new-build properties in London residential hotspots are predicted to more than double in the next four years, according to an upmarket estate agency. Knight Frank said big transport projects, such as the west to east Crossrail link, would combine with accelerating gentrification and a property shortage to drive up demand in central London. It expects prices to rise by 30% in prime areas by the end of 2015 but with some neighbourhoods seeing far greater gains. The biggest increase, of 140%, would see a 300,000 property explode in value to 720,000. Knight Frank s list of forecast hotspots includes: Nine Elms/Battersea power station: 140% City of London eastern fringes: 118% HAMMERSMITH: 78% Marylebone: 66% Earls Court: 60% Farringdon: 52% It says prices in central London have risen 36% since their low after the credit crunch and banking crisis two years ago. Nationally, the recovery has been far more modest. Figures from Halifax suggests house prices are down 2.6% on a year ago. The agency s analysts believes an improvement in the jobs market particularly in the City will underpin the market, together with increasing numbers of foreign buyers. 78% RISE Hammersmith

5 UK house prices 20th June 2013 Hammersmith & Fulham Average house price 749,103 Detatched 1,701,666 Semi-detatched 2,085,000 Terrace 1,203,654 Flat 484,106 Total number of sales: 588 Annual change in house price +19.6% Quarterly change +14.6% +19.6% AREA AV PRICE QUARTER ANNUAL SALES Kensington & Chelsea 1,568, % 8.2% 523 City of Westminster 1,568, % 8.2% 523 Camden 1,568, % 8.2% 523 HAMMERSMITH & FULHAM 749, % 19.6% 588 City of London 1,568, % 8.2% 523 Richmond upon Thames 1,568, % 8.2% 523 Islington 1,568, % 8.2% 523 Wandsworth 1,568, % 8.2% 523 Barnet 1,568, % 8.2% 523 Harringey 1,568, % 8.2% 523 Merton 1,568, % 8.2% 523 Lambeth 1,568, % 8.2% 523 Kingston upon Thames 1,568, % 8.2% 523

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7 Boom time for Hammersmith 28th June 2013 Multi-million pound developments across the town centre will help turn Hammersmith into the envy of West London. Hammersmith town centre is riding high on a wave of investment as high-profile regeneration projects take shape all across town. The positive investment in Hammersmith means that developers are pumping millions of pounds into the town centre at the same time that The Lyric theatre is building a twostorey extension around its current building to house state-of-the-art facilities. St George has permission to build 418 new homes, offices, shops and restaurants on the site of the current Kings Mall car park and the West 45 office building, in Glenthorne Road. BUT WHAT DOES ALL THIS DEVELOPMENT MEAN FOR THE TOWN? Hammersmith has long been a haven for multinational companies looking for office space in west London, but with these latest investments could the town finally become a retail and cultural hub? Executive director at the Lyric, Jessica Hepburn, thinks so. She said: The regeneration of Kings Mall and 10 Hammersmith Grove, along with the Lyric s redevelopment, will ensure that Hammersmith is destined for a new lease of life as a cultural hub for West London. We re excited to be contributing to such a bright future for the area which will undoubtedly attract a much higher profile and many more visitors to W6 Hammersmith is destined for a new lease of life as a cultural hub in West London

8 More than 400 new homes to be built in Hammersmith housingexcellence.co.uk 13th March 2013 Danielle Regan Plans to build more than 400 new homes as well as new offices, shops and restaurants in Hammersmith town centre have been given the green light. The scheme on the site of the current Kings Mall car park and the West 45 office building, in Glenthorne Road, were approved by Hammersmith & Fulham (H&F) Council s planning committee last night. Developer St George can now begin work to demolish the car park and office block, which has been empty for the past five years, to create 418 new homes as well as 753 car parking spaces and 460 cycle spaces. The new building, which will incorporate sustainable urban drainage systems (SUDS) including green and brown roofs where vegetation is planted on top of the buildings, will include 30% affordable housing. There will be 52 studio apartments, 106 onebedroom flats, 216 two-bedroom apartments and 44 three-bedroom apartments, 10% of the apartments will be wheelchair accessible. This exciting scheme continues the wave of investment that is currently pouring into Hammersmith. The town centre is riding high on this wave and is being well and truly revitalised Cllr Nicholas Botterill, H&F council leader

9 Smart moves 24th July 2013 Hammersmith is a convenient place to live if proximity to both Heathrow and the West End loom large in your life. David Spittles has the word from the street Live up close to the best address

10 Just what the doctor ordered 24th July 2013 Streetscaping improvements in Hammersmith include the doubling in size of the Lyric Square, a project linked to a redevelopment of the Lyric Theatre. On King Street, a car park site is to become Sovereign Court 418 new homes, plus offices, shops and restaurants. Contact St George on

11 Hammersmith says farewell to the flyover and hello waterfront 24th April 2013 W6 has been a divided community for 50 years split by a grim flyover. Now there are plans for a tunnel to release land and restore a river connection, says David Spittles. There are big plans in the pipeline to reconnect Hammersmith s town centre with the river. Backed by Mayor Boris Johnson and Hammersmith & Fulham council, a tunnel or fly-under would provide the great benefit of freeing up two-thirds of a mile of land.

12 Lyric Square to double 24th April 2013 Public realm improvements in the town centre include a doubling of the size of Lyric Square. On King Street, which is Hammersmith s high-street, a car park site is set to become Sovereign Court 418 new homes plus offices, shops and restaurants only 150 metres from the Tube station. Contact St George on

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