The Mayfair corner’s come out swinging with some statistical gymnastics to counter Nick Candy’s claim that W1’s oversupplied and due for a price drop this year (as reported here).
N.B. If you’re dealing in just £10m+ properties, please ignore all the “supply shortage” headlines.
There is, according Mayfair’s very own Guru Peter Wetherell, a resi construction pipeline of £5bn across 61 new schemes that will deliver 401 new luxury homes covering 1.1 million square feet. But, far from over-stocking knocking values, prices are all set to breach the £5,000 psf this year, knocking Knightsbridge’s £7,500 psf-ers soon enough, and are likely to break £10,000 psf within the next decade. Knightsbridge is, relatively, yesterday’s news, says Wetherell, who may have a vested interest.