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Tower Bridge Sales Market Insight 2019

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Tower Bridge Sales Market Insight 2019 TOWER BRIDGE SALES MARKET INSIGHT 2019 FIGURE 1 Achieved property prices in Tower Bridge Year to January 2019, circles can denote multiple sales in the same postcode, in which case the highest value is displayed Up to £500,000 FIGURE 2 £500,000 to £600,000 Tower Bridge fact sheet £600,000 to £800,000 Population: 50,475 £800,000 to £1m £1m+ NUMBER OF TRANSACTIONS Blackfriars Bridge Tower of London Year to January 2019 1,102 Waterloo Bridge Year to January 2018 911 Tate Modern National Theatre Year to January 2017 923 Tower Bridge The Shard City Hall London Bridge AVERAGE PRICE Southwark Year to January 2019 £900,920 London Waterloo Year to January 2018 £981,480 Shad Thames Borough Year to January 2017 £1,005,239 Westminster Bridge London South Bermondsey MAXIMUM PRICE Bank University Year to January 2019 £12 million Year to January 2018 £18.75 million Elephant and Castle Year to January 2017 £15 million Source: Knight Frank Research STOCK BY PROPERTY TYPE Flat 89% Source: Knight Frank Research / LonRes / Land Registry Terraced 10% Tower Bridge market update Daniel Woods, Tower Bridge Office Head In similar fashion to the rest of prime “The normal churn of the Tower Bridge property central London, pent-up demand is market is beginning to return as more buyers growing in the Tower Bridge sales need to take decisions. A lot of pent-up demand Semi-detached 1% market. In the year to February 2019, has formed over the last year or two that is the number of new prospective buyers being released, although there is no sustained AGE OF HOUSING STOCK more than doubled while the number of upswing underway. The key to this is that prices offers accepted rose by 15%. Across all have corrected to the point that buyers see Pre-1900 11% prime London markets, the ratio of new value, which means the gap between offers and 1900-1939 10% prospective buyers to new supply was asking prices has narrowed. In Shad Thames, 7.9 in February, the second-highest figure for example, there have been a couple of recent 1945-1972 14% in more than nine years. It underlines the exchanges between £700 and £800 per square strength of demand relative to supply and foot. That compares to a more typical value for 1973-1999 29% suggests activity levels and pricing will this area of around £1,000 per square foot in a 2000-present 36% respond as political uncertainty recedes. market that tends to hold its value.” Source: Knight Frank Research RESIDENTIAL RESEARCH TOWER BRIDGE MARKET INSIGHT 2018 RESIDENTIAL RESEARCH FIGURE 3 Achieved £psf prices in Tower Bridge Year to January 2019, circles can denote multiple transactions in the same postcode, in which case the highest value is displayed Tom Bill Head of London Up to £700 £700 to £800 £800 to £1,000 £1,000 to £1,250 £1,250+ Residential Research +44 20 7861 1492 [email protected] Blackfriars Bridge Tower of London Waterloo Bridge Tate Modern National Theatre Tower Bridge The Shard City Hall London Bridge Please get in touch Southwark London Waterloo SE1 1 SE1 0 Shad Thames If you’re thinking of moving to or from Borough SE1 2 Westminster Bridge Tower Bridge or would just like some property advice, please do get in touch, London South SE1 3 Bermondsey Bank University we’d love to help SE1 6 SE1 4 Elephant and Castle SE1 5 Daniel Woods Source: Knight Frank Research / LonRes / EPC Tower Bridge Office Head +44 20 3837 1524 FIGURE 4 Sales volumes and average price by neighbourhood [email protected] Year to October 2018 Year to October 2017 Year to October 2016 SE1 0 SE1 1 SE1 2 SE1 3 SE1 4 SE1 5 SE1 6 41 47 112 150 132 64 266 Important Notice © Knight Frank LLP 2019 - This report is published for 54 63 239 250 105 79 73 general information only and not to be relied upon in any way. Although high standards have been used in the preparation of the information, analysis, views and projections presented in this report, no responsibility or liability whatsoever can be accepted by Knight Frank LLP for any loss or damage 84 50 247 136 94 104 356 resultant from any use of, reliance on or reference to the contents of this document. As a general report, this material does not necessarily represent the view of Knight Frank LLP in relation to particular properties or projects. Reproduction of this report in whole or in part is not allowed without prior written approval of Knight Frank LLP to the form and content £642,599 £750,775 £920,309 £616,335 £593,622 £356,940 £585,287 within which it appears. Knight Frank LLP is a limited liability £670,033 £726,018 £1,311,638 £600,813 £560,392 £440,029 £442,598 partnership registered in England with registered number Average sale price £714,717 £616,319 £1,027,930 £612,844 £568,377 £437,529 £508,123 OC305934. Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names. Source: Knight Frank Research / LonRes / Land Registry FIGURE 5 Transaction volumes and pricing data Total sales Total Sales (incomplete) Average price Maximum price m m m m m m m m m m m m 50 £1,200,000 40 30 £1,000,000 Total sales Total 20 £800,000 10 achieved value Average 0 £600,000 - - - - - - - - - - - - Source: Knight Frank Research / LonRes / Land Registry.
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