MARYLEBONE, AND SALES MARKET INSIGHT 2017

PCL Market update process has not taken place in a Christian Lock-Necrews, Office Head There has been a steady recovery in uniform way across all markets and “Marylebone remains in vogue as a place to live, primarily transaction volumes in prime central buyer sensitivity to price remains because of its two forward-thinking landowners, The in 2017 as asking price high. Indeed, Marylebone has and The . The reductions stimulate demand. The outperformed the wider PCL with area is increasingly a destination in the £10 million-plus number of residential exchanges strong activity levels. Sales volumes price bracket and some record £ per square foot prices was 5% higher in the first seven rose by a third in the first six months were achieved in 2017. The larger Georgian houses in months of 2017 compared to the of the year and prices grew 2.2% in particular are incredible value for money compared to lateral same period in 2016. However, the the year to July 2017. apartments.”

FIGURE 1 Property prices in Marylebone, Fitzrovia and Bloomsbury Achieved prices, 12 months to August 2017

n Sub-£1,000,000 n £1,000,000 - £1,5000,000 n £1,500,000 - £3,000,000 n £3,000,000 - £5,000,000 n £5,000,000-plus Regent's Park

W1B Fitzrovia Bloomsbury

Baker Street

W1T W1W W1U W1G The Langham Hotel W1H Manchester Cavendish Court Road Square Square Oxford Circus Selfridge's Bond Street

Source: Knight Frank Research / Land Registry / LonRes

FIGURE 2 Population: 47,006 Marylebone FactHyde Sheet Park 33% change in the volume of transactions BLUE PLAQUES AGE OF HOUSING STOCK

between H1 2016 and H1 2017 John Lennon Musician 2.2% price change in the year to July 2017 Novelist 44% 23.6% price change in the five years to July 2017 Pre-1900 John Maynard Keynes Economist Average £PSF (W1U, W1H, W1G) 1900-1939 19% Year to August 2017 £1,720 PROPERTY TYPE Year to August 2015 £1,580 £500,000-plus sales, two years to April 2017 Year to August 2013 £1,270 1945-1972 14% Flat 96% Maximum £PSF (W1U, W1H, W1G) Year to August 2017 £5,530 1973-1999 13% Year to August 2015 £5,620 Source: Knight Frank Research Terraced 4% Year to August 2013 £2,602 2000-present 10% Source: Knight Frank Research / LonRes. Source: Land Registry RESIDENTIAL RESEARCH

MARYLEBONE, FITZROVIA AND BLOOMSBURY SALES MARKET INSIGHT 2017

FIGURE 3 £/psf data in Marylebone, Fitzrovia and Bloomsbury Year to August 2017 LONDON RESIDENTIAL

Christian Lock-Necrews Marylebone Office Head +44 203 435 6441 [email protected] Regent's Park

W1B Fitzrovia Bloomsbury

Baker Stree

W1T Nick Shaw Holborn W1W Marylebone Sales t W1U W1G The Langham Hotel +44 20 3435 6457 W1H Manchester Cavendish Portman Square Square [email protected] Square Oxford Circus Selfridge's Bond Street

RESIDENTIAL RESEARCH

Tom Bill Head of London Hyde Park Residential Research +44 20 7861 1492 [email protected]

Source: Knight Frank Research / LonRes PRESS OFFICE

l Sub-£1,000 l £1,000 to £1,500 l £1,500 to £2,000 l £2,000 to £3,000 l £3,000-plus Harry Turner FIGURE 4 Sales volumes by neighbourhood +44 20 3861 6974 [email protected]

Year to August 2015 Year to August 2016 Year to August 2017

Important Notice 83 © Knight Frank LLP 2017 - This report is published 52 for general information only and not to be relied upon in any way. Although high standards have been used in 38 the preparation of the information, analysis, views and projections presented in this report, no responsibility or 61 liability whatsoever can be accepted by Knight Frank 23 59 LLP for any loss or damage resultant from any use of, reliance on or reference to the contents of this document. As a general report, this material does not necessarily 40 represent the view of Knight Frank LLP in relation to particular properties or projects. Reproduction of this 98 report in whole or in part is not allowed without prior 55 written approval of Knight Frank LLP to the form and content within which it appears. Knight Frank LLP is a limited liability partnership registered in with registered number OC305934. Our registered office is 55 , London, W1U 8AN, where you may look at W1G W1H W1U a list of members’ names.

Source: Knight Frank Research / Land Registry / LonRes

FIGURE 6 Transaction volumes and pricing data

00 75m Total sales 350 Total sales 300 (incomplete) 27m 23m 24m 18m Average price 250 14m 14m 11m 10m 14m 11m 15m 12m 14m 13m Maximum price 200

£2,000,000 150

100 £1,500,000 50 0 £1,000,000 1-2014 2-2014 3-2014 4-2014 1-2015 2-2015 3-2015 4-2015 1-2016 2-2016 3-2016 4-2016 1-2017 2-2017 2-2017

Source: Knight Frank Research / LonRes