22 October 2017
ADVERTS

London's luxury new-build home sales plunge

19 September 17 - RE+D Magazine
London's luxury new-build home sales plunge

DEALS

DATE BUYER SELLER
19 October 17 Pacific Castle Shopcore
17 October 17 Credit Suisse Asset Management Legal & General capital

STOCKS

INDICES

MARKET WATCH

COMPANIES

IBI Group

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

Solum Property Solutions

Consultant - GREECE

Savills

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
The number of luxury new-build homes sold in London's most exclusive areas fell by 55% in the second quarter of this year, new analysis has shown according to cityAM.

 

After house prices at the top end of the capital's market fell more than a quarter over the past year, buyers are ditching new-builds in favour of so-called heritage properties which were previously out of their reach, the study of Land Registry data by the London Central Portfolio (LCP) showed.

House price growth in the capital has been cooling for several months now, with figures published showing prices fell 5.3% in August, causing average prices in the UK as a whole to fall 1.2%.

Kensington and Chelsea, one of the capital's most exclusive boroughs, was the biggest faller, with prices dropping 10.2%.

The figures also showed prospective landlords in the capital are being put off: the number of buy-to-let homes sold in the second quarter fell by a third, with their share of purchases falling from 85 per cent to 55 per cent in the last 12 months.

Comments

You must be logged in to make a comment
WAVE MEDIA OPERATIONS IKE © 2001-2017
Internet Business Hellas