There has been a sharp rise in demand for property in London, as the housing market in the capital continues to recover from the impact of the pandemic.
A new report from Foxtons explores the London property market today. It reveals that demand for London homes grew from 243,827 in 2019 to 394,209 in 2021.
It also among other things looks at the price/travel trade off – where a 40 – 45 minute commute from central London can potentially deliver a 50% sales price and 36% lettings price reduction over a 0-5 minute commute.
Alongside its market insight, Foxtons explore the property investment opportunities London currently presents.
The team of senior Foxtons experts featured in the report:
Jean Jameson, chief sales officer: provides insight into the Sales market and give a comprehensive view of current supply and demand, as well as average prices.
Gareth Atkins, managing director – lettings: reviews the Lettings market and gives a comprehensive view of current supply and demand as well as average rents.
William Pitt, Area Director – Central North and Private Office: presents how Prime London remains hugely attractive to domestic and overseas homeowners, renters and investors
Neil McGimpsey, Area Director – Residential Property: confirms Foxtons status as new homes specialists across every borough in London as institutions, investors and private buyers all benefit from our expert knowledge.
Sarah Tonkinson, Managing Director – Institutional PRS and Build to Rent: reviews how Build to Rent adds variety and choice to the private rented sector and considers the future of this fast-evolving sector.
Michael Grant, Business Analytics Director: discusses Foxtons as a trailblazer in the use of technology and data and explains how our proprietary data and technology ensure we provide the most current, data-driven insight and service to all our clients.
Nic Budden, Foxtons CEO, said: “It is an absolute privilege to live and work in this great global city. The pace at which London recovered from the pandemic has been nothing short of thrilling as people flooded back from their temporary boltholes.
“In this report, we apply our unique combination of data, technology and experience to address issues in London’s housing market at every stage of the process.
“Our professional input ranges from supporting clients in their decisions to acquire sites, to design and marketing advice for sale or rental, through to professional property management for institutional investors and individual landlords. This makes us well-placed to help balance the competing demands of continuous change, ranging from co-living to later-living and sustainability to viability.”
Foxtons’ The London Report is available here.