Lawrie

MARKETWATCH:

⇓ £2m+ sales, from 494 (Q4 2014) to 203 (Q1 2015); ⇓ £10m+ sales, from 23 (Q4 2014) to 4 (Q1 2015); ⇓ Total value of £2m+ sales, from £1.99bn (Q4 2014) to £655m (Q1 2015) – Land Registry
Published On: Tue, Mar 5th, 2013

London: Luxury homes capital of the world

London is the luxury homes capital of the world, and the global prime property market is more similar to the fine art market than to the mainstream property market, according to a new report from Christies International. Limited inventory, strong international buyer demand, and high-net-worth individual’s “increased appreciation for world-class lifestyle offerings” have pushed prices for luxury homes to “historic highs,” with London once again leading the field.

Christies’ report (Luxury Defined: An Insight into the Luxury Residential Property Market) compares 10 of the world’s top property markets— London, New York, Hong Kong, Paris, San Francisco, Cote d’Azur, Toronto, Dallas, Los Angeles, and Miami — and debuts the “Christie’s International Real Estate Index,” which promises to be “the first ever true global indicator for luxury residential real estate.” The Index ranks markets across “key metrics including record sales price, prices per square foot, percentage of non-local and international purchasers, and the number of luxury listings relative to population.”

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FROM THE ARCHIVES

Turning up the Heaton: new buying agency off to a flyer

Ed Heaton, Property Vision’s former Regional Director, is back in the game. After three months on gardening leave following PV’s downsizing on exiting HSBC, Heaton has launched a new independent buying agency: Heaton & Partners. Heaton’s gardening leave wasn’t spent resting on laurels: “it was probably the busiest three months of my life; it’s been […]

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DIARY DATES

  1. What is Luxury?

    April 25 - September 27
  2. London Festival of Architecture

    June 1 - June 30
  3. Movers & Shakers Annual Residential Breakfast

    June 3 @ 7:30 am - 9:30 am
  4. The Third Annual ‘Boom or Bust’ Property Discussion

    June 16 @ 6:30 pm - 9:00 pm
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Prime London house prices now 55% above 2009 market low

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