London
Gloucester Road
Westminster &
Pimlico
South Kensington
Chelsea
Fulham
Battersea Park
West Putney
East Putney
Battersea
Southfields
& Earlsfield
Clapham
Balham
PAGES 7 - 11
Kensington
Hammersmith &
Shepherd’s Bush
LONDON
Notting Hill
We are now three months on from the General Election and we are beginning to experience a rise in agreed
sales, which is being helped by an increase in applicants. New business would seem to bear out my prediction for
a much busier autumn. Prime Central London is taking longer to emerge from its post-election torpor, with the majority
of sales activity concentrated south of the river or we call it “Emerging Prime”. Indeed 87% of new applicants are registering
with our emerging prime offices despite these areas offering just 75% of total available stock, indicating a steady increase in
competition amongst buyers in this traditionally sought after heartland of south and south west London. The increase in Stamp duty at
higher price levels is still having a detrimental effect on sales.
August is traditionally one of the busiest months in the lettings calendar and this year has been no exception. New applicants and stock
availability are marginally down compared to 2014, but with a 12% reduction in tenancy ends the volume of tenancies remains consistent. In
contrast to sales, Prime Central London is experiencing a high volume of activity with 46% of Douglas & Gordon’s available properties located in
these areas. Many tenants are realising the financial advantages of renting compared to buying and paying stamp duty; the prestigious addresses
of PCL command less rent over a three year tenancy compared to the tax payable on an equivalent property purchase.
Autumn is already proving buoyant, signalling a busy conclusion to the third quarter and a market that is thriving in response to a hiatus in sales.
George Franks
Balham - 020 8673 0191
Battersea - 020 7924 2000
Battersea Park - 020 7720 8077
Chelsea - 020 7225 1225
Clapham - 020 8675 4400
7-11 London.indd 1
East Putney - 020 8788 3000
Fulham - 020 7731 4391
Gloucester Road - 020 7581 1152
Hammersmith - 020 8563 7100
Kensington - 020 7792 1881
Notting Hill - 020 7727 7777
Pimlico - 020 7931 8200
Southfields - 020 8874 8822
South Kensington - 020 7581 8888
West Putney - 020 8785 6666
7 | acquire
As we edge towards the final quarter of 2015 we will have a clearer picture of the full impact of the election on the market and clarity on whether
it will make a decisive upward swing - and recovery - following the pre-election slowdown.
30/09/2015 17:38