Thoughts from our Property Experts

12 Drummers Drumming were gifted on the 12th day of Christmas, the last night before Epiphany and 3 Kings Day.  

Our twelfth data-day of Christmas reveals that YOUhome Knowledge Hub* logged just over £47 billion in total residential property sales in London 2023.

Although some sales are yet to be captured for Q4, 2023, the London residential property market overall makes a sizable and significant contribution to the London and UK economy. Comparable in fact to: 

-       The London creative economy which generates c. one in six jobs in the city

-       The entire UK maritime sector contribution in business sales

-       The value of UK ‘ecosystem’ services in the UK

-       The value of UK trade with ASEAN nations in South-East Asia, 2022  

Food for thought! If you have enjoyed reading our ‘the 12 data-days of Christmas’ posts below, follow us throughout 2024 for insights and dynamic data points in prime London property. If we can lend our expert property knowledge to your London property requirements, do get in touch now.

11 Pipers Piping – 4th January, 2024

11 Pipers Piping were gifted on the eleventh day of Christmas. And for our eleventh data-day of Christmas we reveal that most expensive home sale in South Kensington in 2023 was located in Thurloe Square, SW7*. 

Thurloe Square has many notable claims to fame within the London property market. The Square is in a popular location close to South Kensington Tube, the Victoria and Albert Museum and Knightsbridge. The charming private garden square is surrounded by Grade II listed buildings laid out and developed from 1840 by George Basevi in collaboration with the Alexander family. Use of the square is restricted to residents only, who are permitted to walk their dog, once a license has been granted. (Garden rules dictate that no more than 50 dogs can use the square at the same time!) 

The square achieved a more contemporary notoriety when one of the ‘skinny houses’ next to the Tube line was listed for sale. The thin houses date back to London railway’s purchase of adjoining land to build the tube line. Today this is a popular destination for Instagram creators.  

YOUhome tracks the size and price per square foot of properties sold within our 'area' historic data pages.

10 Lords a-Leaping – 3rd January 2024

10 Lords a-Leaping were gifted on the tenth day of Christmas. And for our tenth data-day of Christmas our data shows we accumulated over 820,000 views of our listed properties on the UK’s key property portals.

When you choose to sell your London home with YOUhome we will ensure your property’s marketing includes the most powerful property portals. We work with Rightmove, Zoopla, Primelocation, Onthemarket, as well as our own website, and social media platforms. 

 If you are thinking of selling your London home in 2024, message us to find out more about our valuations and unique property marketing.

9 Ladies Dancing – 2nd January, 2024 

9 Ladies Dancing were gifted on the ninth day of Christmas in the popular carol. (2nd January) And for our ninth data-day of Christmas we reveal the happiest place to live in England – Richmond - secured a top house price of £9,800,000 in 2023.

Richmond claimed the top spot on Rightmove’s Happy at Home Index. This green and pleasant Borough appears to have all the attributes of a truly joyful place: Richmond Royal Park, riverside nature walks, beautiful homes, charming independent boutiques and eateries, local culture, great schools, efficient transport links to the city and more. Residents feel a genuine sense of belonging too.

YOUhome’s recent sale of a beautiful 5-bedroom home in Petersham, listed at £4.75 million, certainly echoed local sentiment. If you would like to know more about the property market in Richmond Borough, message us now.    

7 Swans a-Swimming - 31st December, 2023
7 Swans a-Swimming were gifted on the seventh day of Christmas in the popular carol. New Year’s Eve) And for our seventh data-day of Christmas we reveal that Kensington’s highest value residential property sale was listed in Kensington Palace Gardens. The 5,000 sqft apartment sold with a guide price of £24.95 million. This prestigious road runs parallel to Kensington Palace. 

Other exceptional Kensington sales in 2023 included a 7,170 sqft apartment in Albert Mansions (guide price £15.95 million) and a luxury new development apartment in One Kensington Gardens, opposite Kensington Palace, W8. (guide price £23million)

These three sales illustrate the resilience and attraction of this small well-connected golden postcode of prime central London. 

 

Source : Prime Resi, The YOUhome Knowledge Hub. 
(These sales have yet to register with Land Registry data at time of posting)

6 Geese a-laying – 30th December, 2023

6 Geese a-laying were gifted on the 6th day of Christmas in the well-known carol. 

Our sixth data-day of Christmas reveals that 62,500 properties disappeared “off the market” in London, 2023.  We tracked over 110,000 live property listings this year, so that’s a hefty number of lost opportunities! “Property for sale” listings that disappears “off the market” may have been removed for many reasons. 

A primary reason can be the property has sold. Or, the owners have had a change of heart because the property has not sold after marketing. Many other reasons also apply: the owners’ circumstances have changed, the local property market dynamics change, the owner decides to undertake home improvements before resale, or the owner chooses to use a different London estate agent.

If you took your prime London property off the market last year, and you would like to take a fresh approach in 2024, contact us now to explore our successful approach to selling your home.

5 Gold RIngs – 29th December, 2023

5 Gold Rings were gifted on the 5th day of Christmas. Our fifth data-day of Christmasreveals that the Royal Borough of Kensington and Chelsea processed over 5000* planning applications in 2023.

Despite the rising and variable costs of redevelopment projects in London, home owners, purchasers and developers were not deterred in RBK&C. 

The area continues to see the development and launch of luxury prime developments such as Holland Park Gate, Lancer Square, The Pembridge and 21 Young Street as well as emerging plans for exciting new redevelopments such as in Westbourne Grove.

YOUhome provides data on new to market properties in our Knowledge Hub. Click the blue button to find these listings ongoing throughout the new year. Register to track your London area of choice. 

 

4 Calling Birds were gifted on the fourth day of Christmas. (28th December) And our fourth data-day of Christmas reveals the sheer volume and volatility of property price changes that occurred in London in 2023. 47,000*to call-out specifically. Calling out house price changes helps clients track local market dynamics. Are prices rising, stable or falling? Within the YOUHome Knowledge Hub, you can look locally at house price changes in a specific London area. Find the yellow tab below the map. This will highlight the no. of properties with price changes. Then click the yellow map pin on properties to reveal the history of price changes for that property. 

3 French Hens were gifted on the third day of Christmas. And our third data-day of Christmas we can reveal via the Land Registry that a £35 million* house achieved the top spot as the highest value house sale in Kensington and Chelsea Borough in 2023. Larger sales have happened in the year (for example a 14,300sqft Notting Hill house sold quietly off property portals, for a reported £45m. This sale was not logged on Land Registry) The area’s reputation as a ‘golden postcode’ was once again validated.
The area also saw a top price/sqft level of £5,376 achieved in 2023. Although notable, Westminster and Mayfair saw even higher price/sqft levels achieved this year. The largest residential property sale in the Borough was 9,774 sqft.
To view sold house prices recorded throughout 2023 in the Kensington Borough, click the link and check back regularly to understand new changes in the New Year too.

Click here to view The Knowledge Hub

2 Turtle Doves - Boxing Day - 26th December, 2023
2 Turtle Doves were gifted on the second day of Christmas. Our second data-day of Christmas reveals that YOUhome logged 270,000 fleeting data changes to London property listings in 2023. 
How to keep track of property price and sale status changes relevant to you? Using our Knowledge Hub lets clients see live market changes to properties listed in your area. Clients who choose to register on our Hub gain visibility of dynamic daily changes and updates. Invaluable insights for everyone thinking about buying or selling a prime London home.  

 

Christmas Day heralds the traditional beginning to the ‘12 days of Christmas.’ This popular carol counts the days of the Christian festival from 25th December to twelfth night on 5th January. Christmas day's verse is well-known as 'a partridge in a pear tree'
 The carol dates back to the early 1700s and is generally thought to have been written as a memory game. And the 12 days illustrate the 12 gifts of Christmas. Contrary to many theories, there is no coded message embedded in the lyrics. This speculation caught attention of our tech team, "did someone say coding?"

And so it was, our story of the ‘12 data-days of Christmas’ was created. These 12 days of posts are our gifts to home sellers and buyers in readiness for 2024. Follow our calendar of the countdown to 6th January, presenting YOUhome’s gift-giving data points from the London property market in 2023. Compiled directly from YOUhome’s property Knowledge Hub [hosted on our website] we invite you join us on our daily data journey. Here’s wishing you a successful 2024 with The Knowledge Hub at your fingertips. 

* = Data sources, sets and compilation
London properties in the YOUhome Knowledge Hub refer to all properties listed in the following London Boroughs: City of Westminster, Hammersmith & Fulham, Kensington & Chelsea, Wandsworth, Islington, Southwark, Lambeth, Camden, Richmond upon Thames, Hounslow, Brent, Kingston Upon Thames and Merton. 
Property sales data is compiled and presented with permission from Land Registry UK. As data is updated regularly, data illustrations will be complete at time of posting and will not reflect all 2023 calendar month sales. 
Data points may not include all off-market sales values, 2023, unless stated within post. 
(Data points rounded to nearest '00.)