Chiswick: second best performing prime London area in Q2
Sep 1, 2021
Buyers seeking high-end London homes lead to record sales after the government extended its stamp duty holiday earlier this year. All the latest numbers come from the Coutts London Prime Property Index (CLPPI) revealing what’s happening in the London property market area-by-area.
• 143.8%: Rise in number of properties put up for sale since the same time last year
• 151 days: Number of days it’s taking to sell, compared to 170 days in the second quarter of 2020
• 2.9%: Price increase since the first three months of this year
According to the latest 2021 Q2 figures, more properties worth £1 million or more sold in the capital from April to June than any other three-month period since our records began in 2013.
The number of sales – 994 – was over 11% higher than the previous peak in 2014, when the market was booming, and up almost 200% compared to Q2 2020. Although that’s after the market effectively shut down due to Covid.
CHISWICK W4 and HAMMERSMITH W6, Q2 2021
High demand for larger family homes meant prices in Chiswick and Hammersmith rose 8.5% this quarter compared to Q2 2020. And the number of homes sold was up by a third since the first three months of the year. Price growth of 8.5% over the last 12 months makes this the second best performing prime London area this quarter.
• 6%: Annual sales volume growth
• -3.5%: Average discount
• 7%: Annual gross rental yield
PROPERTIES ARE SELLING FASTER - The number of days between listing and exchange fell from 170 days a year ago to 151 this year – an 11.3% drop.
THE MARKET REMAINS ACTIVE - The number of properties under offer at the start of July was 23.6% higher than at the end of Q2 2020.
PRICES ARE RISING HIGHEST AT THE LOWEST END OF THE MARKET - Homes selling for between £1 million and £2 million saw the biggest annual increase, up 4.9% on Q2 2020.
As 2020 was such an extraordinary year, Coutts has compared some figures with Q2 2019 as well to provide a fuller, more ‘like-for-like’ picture. This interactive map shows the average quarterly sales price per square foot (£) and the annual change (%).