The latest research report from Pastor Real Estate provides an in-depth analysis of the prime central London residential property market. The report looks at developments due to complete this year, those that have been granted planning permission and those those that are in planning, analysing, scale, unit mix, unit size and value.
The key findings for prime central London include:
- Total housing stock in prime central London has increased by 8.6%, with 7,000 new homes in the pipeline
- Developers are shifting from small single-occupancy units to larger homes suitable for families
- There is at least one three-bedroom unit within 71% of the developments currently in the pipeline
- Average unit size for schemes under construction in Prime Central London is 543 sq. ft. compared to 763 sq. ft. of units currently at application stage
- Of 13 development schemes set to complete in 2015, 11 are in Marylebone
- The area famous for high-profile restaurants and the well-known fictional English detective will provide almost 50% of schemes in the pipeline, equating to 644 new residences
- Sales of three bedroom homes have increased in Mayfair year on year, recording a record sale in 2014 of a property with 11 bedrooms
- Mayfair remains the key with 31 schemes in the pipeline set to provide 420 new homes.
To read the full report