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South kensington

Autumn/Winter 2013

The sales market in South Kensington remains strong

as buyers compete aggressively for properties. Stock

levels are low after a busy summer, and with some

vendors holding off putting their property on the

market, prices are rising as we approach winter.

International buyers were increasingly active

over the summer months in South Kensington;

much more so than in previous years. Indeed,

the significant upsurge in international

activity meant that, by September, stock

levels were in need of replenishing. The

current availability of stock in the local market

is 10.8% lower than in June, suggesting that

this is some way off being achieved.

Stock constraints have been exacerbated by

vendors holding off putting their properties

on the market this autumn. Positive economic

news stories and the rather misleading press

coverage by Rightmove on monthly increases

in asking prices, means that there is more

optimism from vendors regarding capital

growth prospects.

Currently, the greatest imbalance between

demand and supply in South Kensington is for

one bedroom apartments below £1 million.

Multiple purchases in this price band are often

seen as more desirable by investors wishing

to enter the prime central London market

instead of purchasing one more expensive

property. Over the last three quarters,

transactions in this price band are up by

26% in South Kensington compared to the

same period last year.

Competition for stock has resulted in

considerable price increases and instances of

gazumping. Average £ per square foot values

have risen by 8.7% over the last 12 months in

South Kensington. Properties have also gone

under offer exceeding £2,200 per square foot.

The Autumn Statement may announce

the introduction of a capital gains tax for

overseas buyers. We do not see this being

an adequate deterrent to these buyers,

who would expect to pay tax on their

assets. Only if an annual levy were to

be applied, would we expect to see a

significant impact on the market.

“WE ANTICIPATE THAT

AVERAGE PRICES WILL

CONTINUE TO RISE

STEADILY UNTIL THIS TIME

NEXT YEAR, WHEN THE

PROSPECT OF THE GENERAL

ELECTION MAY RESULT IN A

NATURAL SLOWDOWN.”

James Moran Director

100.3%

asking price achieved

2013 Sales

WINKWORTH SOUTH KENSINGTON

32.5%

increase in sales

across South Kensington

Lonres, Q1–Q3 2013 compared to Q1–Q3 2012

£1.4 billion

total value of sales

in South Kensington

2013 to date

£4.25

billion

increase in value of

private housing stock in

South Kensington

2007–2013

AVAILABLE SUPPLY DOWN FROM JUNE THIS YEAR ACROSS ALL PRICE BANDS

-20% 0%

-10.3% -8.1% -16.6% -6%

Under £1m £1m–£2m £2m–£5m

Over £5m

Source: Census 2011, Lonres and Dataloft

Source: Lonres


ecent instructions

Examples of homes currently available

or recently sold by us include:

winkworth in prime central london

Our four branches in prime central London (Kensington and

Holland Park; Notting Hill; Knightsbridge, Chelsea and Belgravia;

and South Kensington) work together to form a powerful network.

With over 60 years of combined experience, shared expertise and

a bespoke service for our customers, you'll be in safe hands. Our

branches are owner-managed by passionate people who care

deeply about every customer they work with.

Elm Park Lane,

SW3

For Sale £2,250,000

A stunning two bedroom west-facing

house with a garage that has just

been the subject of an intensive

programme of refurbishment to

a high specification throughout.

Redcliffe Place,

SW10

Sold £1,850,000

An outstanding south-facing, three

bedroom upper maisonette located on a

tranquil tree lined street in West Chelsea.

Extending to 1150 sq/ft (106.84sq/m).

“Everyone can understand the appeal of a

South Kensington flat; if you wish to buy one,

then I strongly recommend Winkworth in South

Kensington. I was so impressed, I also used their

recommendations to organise the purchase of a

new property with the proceeds from this sale.

Well done Winkworth!”

Winkworth South Kensington client.

W9

NW8

NW1

WC1

EC1

Rose Square, The

Bromptons, SW3

For Sale £1,300,000

An extremely spacious one bedroom

flat with a private patio and

underground parking in this prestigious

and much sought-after development

located North of the Fulham Road.

Southwell Gardens,

SW7

Sold £1,700,000

A magnificent first floor flat on one

of South Kensington’s finest streets,

Southwell Gardens and spanning

775 sq/ft (72sq/m) of carefully

planned space.

W14

W11

SW6

W8

SW5

SW

10

W2

SW7

SW3

SW11

W1 WC2

SW1

SE11

SW8

EC4

SE1

Earls Court Square,

SW5

For Sale £3,200,000

An incredibly spacious four/five bedroom

top floor flat (with a lift) presented in

good order throughout that extends to

an impressive 1758sq/ft (163.3sq/m)

of internal accommodation.

Rosary Gardens,

SW7

Sold £2,750,000

An exceptionally spacious three/four

bedroom family flat with fantastic

volume on the fourth floor (with a lift)

of this impressive Mansion block.

020 7370 9828

James MOran mnaea

Director, South Kensington

jamesmoran@winkworth.co.uk

WINKWORTH. SEE THINGS DIFFERENTLY

winkworth.co.uk

This factsheet has been

compiled by Dataloft,

www.dataloft.co.uk

Disclaimer: This report is produced for general information only. Whilst every effort has been made to ensure the accuracy of this publication, Dataloft Ltd

accepts no liability for any loss or damage of any nature arising from its use. At all times the content remains the property of Dataloft Ltd under copyright and

reproduction of all or part of it in any form is prohibited without written permission from Dataloft Ltd.

Date of publication: November 2013

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