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Harry BuchananHarry Buchanan Director, Pimlico and Westminster Sales, Jackson-Stops – 16 May 2024

Pimlico update

As usual there is plenty of ‘commentary’ on the property market but most of it is not from us and by us, I mean agents on ground. This means you are getting an opinion based on delayed Land Registry updates and mortgage lenders.

So, what has been going on in the first four and half months this year, I hear you ask…

Q1 kicked off with a bang. There has been plenty of new stock coming to the market and plenty of deals being agreed often with multiple bids. So despite everything you might be reading or assuming, the market is steaming along nicely and we are still averaging in excess of 95% of guide price.

So far this year we have sold a huge range of stock, from studios and one bedrooms right up to five or six bedroom houses so there has been something for everyone. It is not often one can say that the market is moving well in all sizes and price regions. Why?

Our feedback based on real time conversations is that often buyers do not want to pay a landlord’s mortgage and with rents continuing to achieve record prices combined with ever increasing tenancy lengths (without break clauses); the smart thing to do is get on the ladder and pay your own mortgage. Whether they are selling to upsize or downsize they don’t want to be out of London market or they have realised that getting out of the London market during Covid was a mistake – yes we still have ‘boomerang’ buyers, it has just taken them longer to pull the trigger and come back.

Furthermore, as I write this I am delighted to say we have the largest register I have had in 20 years of selling in Pimlico, but what is even better news is that we have live offers on circa 25% of it, this is again another record. This simply would not be possible if buyers were not motivated to move, whether they be first time buyers, upsizers or downsizers.

So what is my advice? Given we know there is going to be a general election this year and we know that often brings some unnecessary procrastination I would advise you get going NOW. Having sold our own flat in Pimlico last year I can vouch for the fact that selling often takes longer than you think, and the market is busy NOW, do not miss this opportunity!

With regards to Lettings, although the ever increasing prices are one of the fuelling factors of the sales market for those who are not coming off fixed rate mortgages; this is a superb market with record prices and length of tenancy being achieved. Long term landlords are benefiting from a huge reduction in stock levels given the exit of many ‘accidental’ landlords and so there is plenty of opportunity to make hay.

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

 

Current properties for sale or recent sales in Warwick Square

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