Demand for property in Primrose Hill soars while next door St John’s Wood suffers
- Credit: Archant
Demand for property over £2million in Primrose Hill has more than doubled since May according to figures released today.
Data from online estate agent eMoov.co.uk showed that demand in the star-studded neighbourhood, which is home to Stefano Gabbano, Jamie Oliver, Mary Portas and Andrew Marr, increased by 264 per cent from May to June.
Heather Carter-Drake, lettings manager at Sandfords Primrose Hill, said: “Demand has sky-rocketed mostly through sales but also through a lot of high-end enquiries. People were visibly holding off before the election but now there’s no longer a coalition and there’s much more stability.”
However, the same report shows a three per cent drop in total across prime central London. Despite neighbouring the month’s best performing area, St John’s Wood is the worst affected location, with a 37 per cent decline in demand.
David Brand, director of Chestertons St John’s Wood described the figures as “ridiculous”.
You may also want to watch:
He said: “I have got no idea how they can quote figures like that. There is a slow but steady growth in confidence in the buyers. June has proven to be a lot better than we had hoped and certainly a lot better than May. The fact that the threat of the Mansion Tax has been withdrawn has filled everyone with confidence.”
eMoov.co.uk CEO Russell Quirk reacted to the figures differently: “The PCL market is still a graveyard, albeit a pretty one. I don’t think the threat of a Mansion Tax disappearing has done much in the way of restoring the market. Given the colossal fall in demand, it could be several years before the PCL market recovers.”
- 1 Missing: Highgate woman known to frequent Camden and Islington areas
- 2 Burglar of £100k watches and jewellery haul jailed
- 3 Neighbours fight plan for 'out of character' flats above nursery
- 4 Birthday Honours: Period Poverty campaigner Amika George becomes an MBE
- 5 Food Bank Aid joins estate agent in fight to keep up with demand
- 6 Capita review could see Barnet Council services return in-house
- 7 Police officer guilty of spying on woman in the shower
- 8 Birthday Honours: Cllr Jonathan Simpson 'astonished' to be made MBE
- 9 Birthday Honours: Gongs for Arlene Phillips, Jonathan Pryce and Engelbert Humperdinck
- 10 5 days out in London where you can meet the animals