Prime Central London Residential Property Market Highlights: 2013 in Review

 

2013 Highlights:

 

  • Total value of transactions in Royal Borough of Kensington & Chelsea (K&C) and City of Westminster in 2013: £7.45bn

 

  • Most transactions (by total value) in K&C and Westminster achieved prices between £2m and £5m despite introduction of Annual Tax on Enveloped Dwellings. 30% of all transactions by total transaction value where between £2m and £5m.

 

Breakdown of Total Transaction Values in Royal Borough of Kensington & Chelsea and City of Westminster by Price Segment

market share

(Source: Land Registry et al)

 

 

  • Highest transaction by total value : £36.5m achieved at 20 Cornwall Terrace, NW1.

 

  • Highest sale by per square foot value: One Hyde Park achieved £6400/sqft.

 

  • The highest prices per square foot (£/sqft) were achieved at One Hyde Park, achieving the three highest reported price per square foot values in 2013 and the next two highest value transactions per square foot were achieved in The Knightsbridge development.

 

  • 9/10 of the highest achieved prices per square foot were achieved in Knightsbridge.

 

  • Over 5,000 total property transactions in K&C and Westminster in 2013.

 

 

Top Ten Residential Sales by total value in 2013:

Chart prices

                                                                                                                                                                                                                                                                                               (Source: Land Registry et al)

                                      *£/sqft data is based on estimates due to lack of available detailed floor measurements.

 

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