Savills' Prime Residential Markets Overview
Savills Prime Residential Report Q3 2009: Key Findings
 | - The improvement in Prime London property prices continued into the Q3 2009, as prices in central London rose by a further 4.0 per cent fuelled, in part, by a lack of stock.
- This increase means that there is house price growth of 4.0 per cent in the year to date but still leaves prices -16.6 per cent off their 2007 peak.
- The effect of cash and equity rich purchasers has been particularly pronounced, with only a quarter of Savills' central London buyers requiring borrowing during 2009.
- The strongest growth has been seen in the Prime South-West London market (the belt running from Fulham to Richmond) which witnessed 8.4 per cent growth this quarter.
- Rental values across Prime Central London showed further signs of market stability, similar to last quarter, as rents saw a 1.0 per cent in Q3, leaving values -10.8 per cent below the peak of the market.
- The prime regional and country house market showed their first noticeable quarterly rise since the beginning of the downturn, increasing by 1.9 per cent, leaving prices -17.7 per cent off their peak levels of September 2007.
- Looking forward over the next six to nine months, Savills anticipate higher stock levels as sellers seek to take advantage of improved market conditions; this, they say, will take some of the current upward pressure off prices.
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