Quarterly Property Report April 2016

APRIL 2016

Southfields stands out as the big mover in Emerging Prime areas, with property values up 4.3% in the first quarter of 2016

Douglas & Gordon’s Emerging Prime Index shows prices for three bedroom houses in the Southfields area grew by 5% in the same period. Demand was strong across the board, with one bedroom flats and four bedroom houses increasing in value by 4.7% and 4.6% respectively

The growth in values has been matched by spectacular growth in sales in the area. Douglas & Gordon has seen sales in Southfields grow by 64% year-on-year in March as gentrification continues apace. Douglas & Gordon’s Southfields office has seen applicants for rentals up 74% on March 2014 and sales revenues increase 87% year-on-year

In areas covered by Douglas & Gordon, 90.5% of applicants aged under 40 are looking in Emerging Prime locations with nearly half of these (46%) looking in East Putney, Southfields and Clapham

The current weakness of the pound against the dollar has opened a window for international buyers to invest in London property. The Douglas & Gordon Emerging Prime Index shows residential property values in London’s Prime and Emerging Prime areas have declined 1.9% overall since June 2014, but this figure translates to 18.5% in US$ terms, thanks to its relative strength against sterling over the last two years

With the markets expected to remain uncertain until the outcome of June’s Brexit vote, overseas buyers who act fast are finding the currency discrepancy can effectively ‘cancel out’ SDLT

Media Enquiries

Launch PR
Alex Black, Alice Carr and Hannah Talbot
Office: +44 (0) 20 7758 3900
Email: douglasandgordon@launchpr.co.uk