According to the latest figures the average price of a home in London has fallen 1.5% in the last year to £602,539. In March 2018 the drop was 0.7%. Surprisingly though some areas had much better performance.
When it comes to property investment Kensington and Chelsea has proven to be one of the best performing areas in the last year. Even with such uncertainty in the market people are still looking to purchase valuable homes in the Borough. This has drive prices in the area up by 30% in the year to March 2018.
Some valuable sales
The big rise in prices has been driven by a number of high value sales. Each of these properties sold for over £10million in the period. The properties are luxurious and all located in highly desirable neighbourhoods in the Borough.
At the end of March Kensington and Chelsea was home to four of the five highest property sales. The most valuable home sold in the period was in Barnet; it changed hands for £15million. The other sales were in Queens Gate Gardens, Cranley Place, and two in Campden Hill.
As a result of these sales the average house price in Kensington and Chelsea exceeded £2.5million. This was a new high for the area and makes it one of the most valuable in the whole of London.
Finefair is a professional team and has a lot of experience working in prime markets across London. We strive to support each and every investor, helping them at every stage with their investment. For example we can help them to find a property, manage it, and provide advice about agreements such as guaranteed rent and council leasing.
If you are considering property investment Kensington and Chelsea remains an area worth a look. Consequently, we are here to assist you whether you are a new investor or have an existing portfolio.
To find out more about what we can do for you please get in touch.