Spotlight on World in New London

Report Summary:

In Spring 2011, Savills analysed who was buying in the prime secondhand markets, where they came from and what they were spending. We estimated that £3.7 billion of new equity had flowed into the prime London residential market during 2010 and that a significant proportion of this had landed in the new homes market.

Our new summary concludes:

• The prime London residential market is currently being driven by international buyers.

• The new build market in London has a higher proportion of international buyers than the secondhand market. This means its dynamics have more in common with Hong Kong and Singapore real estate than with average UK property.

• UK buyers were three-quarters of the market for newly built London properties in 2009, but in 2011 formed little over a third.

• Overseas buyers in the new build sector, especially in the east of City (Docklands) markets are dominated by Pacific Asians and Chinese, reflecting concentrated marketing efforts in these regions.

About the Author:

Savills advise a wide range of clients on property acquisition, occupation and ownership strategies, asset management, regeneration, planning, development and building consultancy, stock condition, disposal and management. They have in-depth knowledge of local and national property markets throughout the world. Their team also includes specialists in matters as diverse as finance, urban design, energy conservation, social housing and research as well as in leisure, healthcare and hotels.