Marylebone property prices saw the highest prices per square foot increase of 12.7& between the months of January and November 2022. The second highest areas included property in Belgravia & Knightsbridge at 9.3%.
Unfortunately, even these figures are far too general to be of any real use because there are specific streets and types of property in Notting Hill that increased in value by far more than this. Indeed, the same is true for the houses in Marylebone as well as in Knightsbridge and Belgravia.
Of course, there are also many properties in these areas that didn’t get close to achieving Marylebone property prices increases of 9+% and, if you have been reading my analysis for any amount of time, you will know that I am very wary of any general figures, especially those that have a decimal point because you can guarantee that they are wrong!
In my Prime London Property Trends Letters, I reveal the causes which led to the increase in the
Marylebone property prices as well as for the rest of the market, what the mainstream economists
and city analysts in the press are predicting, why their predictions are almost always wrong and
what I think will actually happen based on the key drivers of the market that they continue to ignore.
This may sound like a bold claim but consider this (and I apologise now for a crass & blatant piece of
self-promotion!):
In April 2020, during Lockdown I wrote:
“… my view is that after a brief and small dip in prices we will see prices move higher. Slowly, at first,
in the face of a wall of worry, because even those who think prices will go higher will still feel
uncomfortable and unconfident due to the daily barrage of negativity.”
Meanwhile, this is what was in the press:
““Properties from Marylebone to Plymouth have seen their asking prices slashed. This dip is going to
be followed by the biggest economic contraction of our lifetimes, possibly of the century, which will
almost certainly mean another blow to the sector.
Even the Bank of England —which has been bullishly optimistic about the UK’s overall economic
recovery —has forecasted a 16% dip in house prices due to the virus.” The Spectator –
22 May 2020
If you are unsure what happened, property prices increased c.20% in the UK.
And in January last year, I wrote:
“Rightmove estimates prices will be up 3% in London. Halifax expects rises of between 0% and 2%.
Savills also expects c. 3%. But I think we will continue to see far stronger price rises than this across
the UK and especially in certain areas in London.”
Again, their predictions were far too conservative. As you have seen, Marylebone property prices were up
12% and what happened to the houses I mentioned in Notting Hill? They were up over 20%!
So, if you are planning to acquire a property in London you have to have access to much better
information than is available in the press or on the property websites, if you want to find the best
property your money can buy and have a clear understanding of property valuations so that you can
negotiate the lowest price possible.
Contact Mercury Homesearch
Because if you don’t, would it be unreasonable to say that you will make an expensive mistake?
If you would like to discover how we find the best homes and investment opportunities from £1m to
£100m for our clients, who are some of the world’s most successful families, businesspeople and
celebrities, simply email dee@mercuryhomesearch.com or call 02034578855 (+442034578855 from
outside the UK) or you can request a free copy of The Insider’s Guide To Acquiring £1m to £100m
Property in London by clicking here.
Best regards,
Jeremy
