+974 44 33 73 49
+44 20 37 00 52 62
+33 18 25 095 98
The UK economy bounced back strongly last year, delivering the highest level of growth seen in any country in the G8 nations. As the Eurozone struggles with more fiscal uncertainty, the UK is seeing job creation and starting to see wage growth, all in an ultra-low interest rate environment.
The growth of Canary Wharf to become one of Europe’s largest financial services employment clusters in the last 20 years has overshadowed its emergence as a leading prime London residential market. The next wave of development is likely to rebalance this view, supported by new infrastructure and amenities, which will reinforce the area’s position as a prime residential address.
Crossrail has already triggered land purchases, development activity and price growth along its route but plenty of opportunities and gains still remain.
In 2011, Knight Frank published its inaugural Development Hotspots report. Our analysis highlighted areas where market fundamentals, from regeneration to transport links, suggested new-build property prices had the propensity to outperform the market.
This document is about prime London markets, not about London Markets. The two are often mixed up but the impact of wealthy buyers in Pimlico and Putney is clearly far more significant than in Peckham and Penge.
Marylebone and Fitzrovia continue to grow as demand increases for these central locations.
The UK student housing sector has evolved into a mature and globally recognised investment.
The second edition of The Residential Brief brings you up to date with prime residential in both London and regional markets. Similarly to our valuation approach, we provide an independent and objective overview – our research and data is supported by both LonRes and Molior, with reference to Land Registry and the Office of National Statistics data.
BNP Paribas Real Estate forecast average nominal house price growth of 7.6% pa over the next four years, edging ahead of the long term trend in real terms assisted by low inflation. Regional markets with a positive economic story will see improved growth as the recovery spreads beyond London and the South East.
