Square Feet: local property news sponsored by Jackson-Stops
Harry Buchanan Director, Pimlico and Westminster Sales, Jackson-Stops – 18 January 2024
Pimlico update
As we have now finished Q4 and marching through Q1, I thought it would be useful to circulate my thoughts on how:
a) the last year has gone,
b) how the last month or so has performed and
c) what we anticipate for the following year, more specifically Q1.
So, in brief, this last year has been extremely busy despite what you may have read in the papers regarding Prime Central London. Here at Jackson-Stops we have not seen a slowdown and interest rates have not affected the appetite of our buyers be they first timers or seasoned professionals.
With a wide range of properties for sale ranging from c. £250,000 to C. £4,000,000 we have, as you might expect, a wide range of buyers; some are first time owner occupiers, some our pied-a-terre purchasers, some our buy to let investors, (looking capitalise on the increased rents being achieved) some are upsizers / downsizers, and some are simply looking for a proper family house.
In terms of activity
- We have had a 10% increase in transactional numbers over the like for like period.
- November has seen a 60% increase in agreed deals on last year.
- We have averaged approx. 95.5% of guide price.
- The vast majority of buyers remain British based which underlines my feeling of home-grown confidence.
- Approx 55% of our transactions have not required mortgage funding.
I hope you will agree that the above demonstrates the sales market is in good shape, confidence remains high, and we see no reason why this should wane. Interest rates have settled, and the lenders are reducing their rates, so those that may have put their searches on hold will be returning to the market and those that are still looking are looking to agree deals. This activity coupled renters who would prefer to put their earning towards their own mortgage and not someone else’s means we anticipate further increases in activity.
With regards to rentals this last 12 months has seen a phenomenal increase in activity with figures up some 21.6%. This has been achieved due to increasing numbers of applicants returning to London post covid only to find fewer properties available due to exiting landlords and tenants requiring longer tenancies which in turn offers security of tenure to the landlord our current average tenancy is a fixed term of 23.5 months.
So, if you are thinking of moving, be it locally or further afield, disposing of an investment or simply would like a marker in the sand then please do get in touch. We would be delighted to chat you through the local market be it from a sales or rental perspective and see what we can do to help.
With very best wishes,
Harry Buchanan, Director, Pimlico and Westminster Sales, Jackson-Stops
020 7828 4050, harrybuchanan@jackson-stops.com
Pimlico, the property sweet spot
(ES. Homes & Property article 22 October 2019)
Young professionals love a sweet spot that offers central London’s buzz but cheaper monthly rents.
Next to the river and with Victoria station and Westminster on the doorstep, Pimlico is right in the thick of it.
The area is now feeling some of the spillover effects of the massive regeneration happening in Victoria — not least the rash of new restaurants and bars that have opened there recently. Read more…
Pimlico offers homebuyers a square deal for prime central London
(Financial Times article 27 July 2017)
Belgravia’s neighbour can serve up Regency homes in a prime location — minus the prime prices.
Two-hundred years ago, Pimlico was a swamp. Raised using the spoil from the development of St Katherine’s Docks, “South Belgravia” was the brainchild of master builder Thomas Cubitt, who wanted to extend the grand stucco residencies that he had designed on Eaton and Belgrave squares down to the river. Read more…
Recent sales in Warwick Square
12/09/23 | 7A | WARWICK SQUARE | SW1V 2AA | £1,275,000 | |
19/05/23 | 7 | WARWICK SQUARE MEWS | SW1V 2EL | £1,150,000 | |
02/05/23 | FLAT K | 59 | WARWICK SQUARE | SW1V 2AL | £1,360,000 |
28/04/23 | 64 | WARWICK SQUARE | SW1V 2AL | £750,000 | |
22/03/23 | FLAT 2 | 20 | WARWICK SQUARE MEWS | SW1V 2EL | £650,000 |
06/01/23 | FLAT H | 65 | WARWICK SQUARE | SW1V 2AL | £3,000,000 |
21/12/22 | FLAT 4 | 2 | WARWICK SQUARE | SW1V 2AA | £842,000 |
06/12/22 | FLAT 19B | 18-20 | WARWICK SQUARE | SW1V 2AB | £1,300,000 |
25/11/22 | FLAT F | 29 | WARWICK SQUARE | SW1V 2AD | £920,000 |
27/10/22 | FLAT S | 74 | WARWICK SQUARE | SW1V 2AR | £1,430,000 |
27/09/22 | FLAT 7 | 77 | WARWICK SQUARE | SW1V 2AR | £675,000 |
12/09/22 | FLAT F | 3 | WARWICK SQUARE | SW1V 2AA | £1,400,000 |
31/08/22 | FLAT L | 59 | WARWICK SQUARE | SW1V 2AL | £3,350,000 |
15/08/22 | FLAT 6 | 5-6 | WARWICK SQUARE | SW1V 2AA | £2,100,000 |
04/07/22 | FLAT 10 | 75 | WARWICK SQUARE | SW1V 2AR | £640,000 |
30/06/22 | FLAT B | 55-57 | WARWICK SQUARE | SW1V 2AJ | £5,500,000 |
07/06/22 | FLAT S | 13-15 | WARWICK SQUARE | SW1V 2AA | £295,000 |
13/05/22 | FLAT 6 | 77 | WARWICK SQUARE | SW1V 2AR | £825,000 |
11/03/22 | FLAT H | 29 | WARWICK SQUARE | SW1V 2AD | £930,000 |
31/01/22 | FLAT M | 62 | WARWICK SQUARE | SW1V 2AL | £1,350,000 |
29/11/21 | FLAT 20E | 18–20 | WARWICK SQUARE | SW1V 2AB | £2,020,000 |
15/10/21 | FLAT 5 | 59 | WARWICK SQUARE | SW1V 2AL | £2,750,000 |
30/07/21 | FLATS D&E | 54 | WARWICK SQUARE | SW1V 2AJ | £1,677,450 |
28/06/21 | FLAT C | 52-53 | WARWICK SQUARE | SW1V 2AJ | £2,500,000 |
08/06/21 | FLAT J | 27 | WARWICK SQUARE | SW1V 2AD | £740,000 |
07/05/21 | 2ND FLOOR FLAT | 70 | WARWICK SQUARE | SW1V 2AR | £641,750 |
09/04/21 | FLAT O | 18-20 | WARWICK SQUARE | SW1V 2AB | £1,100,000 |
09/04/21 | FLAT F | 54 | WARWICK SQUARE | SW1V 2AJ | £512,500 |
31/03/21 | FLAT 19D | 18-20 | WARWICK SQUARE | SW1V 2AB | £1,500,000 |
19/02/21 | FLAT D | 9 | WARWICK SQUARE | SW1V 2AA | £1,070,000 |
30/10/20 | FLAT 2 | 62 | WARWICK SQUARE | SW1V 2AL | £8,500,000 |
23/10/20 | FLAT G | 23 | WARWICK SQUARE | SW1V 2AB | £1,150,000 |
14/09/20 | FLAT O | 58 | WARWICK SQUARE | SW1V 2AJ | £2,400,000 |
13/08/20 | FLAT L | 65 | WARWICK SQUARE | SW1V 2AL | £550,000 |
02/12/19 | FLAT E | 50-51 | WARWICK SQUARE | SW1V 2AJ | £3,750,000 |
15/11/19 | FLAT Q | 55-57 | WARWICK SQUARE | SW1V 2AJ | £3,350,000 |
08/11/19 | FLAT B | 29 | WARWICK SQUARE | SW1V 2AD | £1,050,000 |
23/09/19 | FLAT G | 73 | WARWICK SQUARE | SW1V 2AR | £765,000 |
26/07/19 | FLAT K | 73 | WARWICK SQUARE | SW1V 2AR | £915,000 |
06/06/19 | FLAT E | 73 | WARWICK SQUARE | SW1V 2AR | £600,000 |
22/02/19 | FLAT 2 | 20 | WARWICK SQUARE MEWS | SW1V 2EL | £610,000 |
11/01/19 | FLAT 6 | 79 | WARWICK SQUARE | SW1V 2AR | £1,875,000 |
14/12/18 | FLAT C | 63 | WARWICK SQUARE | SW1V 2AL | £2,150,000 |
11/12/18 | FLAT F | 3 | WARWICK SQUARE | SW1V 2AA | £1,000,000 |
28/09/18 | FLAT V | 7 | WARWICK SQUARE | SW1V 2AA | £835,000 |
28/09/18 | FLAT 1 | 60 | WARWICK SQUARE | SW1V 2AL | £1,800,000 |
27/09/18 | FLAT 20E | 18-20 | WARWICK SQUARE | SW1V 2AB | £1,400,000 |
05/09/18 | FLAT D | 5-6 | WARWICK SQUARE | SW1V 2AA | £970,000 |
21/06/18 | FLAT 4 | 4 | WARWICK SQUARE | SW1V 2AA | £835,000 |
17/05/18 | FLAT F | 29 | WARWICK SQUARE | SW1V 2AD | £650,000 |
17/05/18 | FLAT H | 29 | WARWICK SQUARE | SW1V 2AD | £670,000 |
11/05/18 | FLAT M | 9 | WARWICK SQUARE | SW1V 2AA | £2,680,000 |
16/02/18 | FLAT B | 66 | WARWICK SQUARE | SW1V 2AP | £985,000 |
19/10/17 | FLAT F | 10 | WARWICK SQUARE | SW1V 2AA | £1,510,000 |
02/10/17 | FLAT 3 | 1 | WARWICK SQUARE | SW1V 2AA | £970,000 |
28/07/17 | FLAT 4 | 77 | WARWICK SQUARE | SW1V 2AR | £850,000 |
22/06/17 | FLAT 2 | 75 | WARWICK SQUARE | SW1V 2AR | £850,000 |
24/04/17 | FLAT M | 65 | WARWICK SQUARE | SW1V 2AL | £550,000 |
31/03/17 | 79 | WARWICK SQUARE | SW1V 2AR | £3,550,000 | |
07/03/17 | 1ST FLOOR FLAT | 72 | WARWICK SQUARE | SW1V 2AR | £680,000 |
12/01/17 | FLAT 3 | 69 | WARWICK SQUARE | SW1V 2AR | £1,855,000 |
26/11/16 | 4TH FLOOR FLAT | 72 | WARWICK SQUARE | SW1V 2AR | £622,000 |
25/11/16 | FLAT E | 27 | WARWICK SQUARE | SW1V 2AD | £820,000 |
21/11/16 | BASEMENT GROUND AND 1ST FLOOR | 65 | WARWICK SQUARE | SW1V 2AP | £5,000,000 |
15/11/16 | FLAT B | 55-57 | WARWICK SQUARE | SW1V 2AJ | £4,250,000 |
07/11/16 | FLAT 49 | 45-49 | WARWICK SQUARE | SW1V 2AJ | £3,250,000 |
08/11/16 | 4 | WARWICK SQUARE | SW1V 2AA | £46,000 | |
23/06/16 | FLAT 3 | 77 | WARWICK SQUARE | SW1V 2AR | £640,000 |
20/05/16 | FLAT F | 5-6 | WARWICK SQUARE | SW1V 2AA | £1,265,000 |
31/03/16 | FLAT O | 13 | WARWICK SQUARE | SW1V 2AB | £2,000,000 |
31/03/16 | FLAT D | 61 | WARWICK SQUARE | SW1V 2AL | £878,000 |
30/03/16 | FLAT B | 26 | WARWICK SQUARE | SW1V 2AD | £1,170,000 |