
Quarterly review of key luxury residential real estate market statistics for Q4 2024 in the London Postcode of NW3, including Hampstead, Belsize Park and parts of Primrose Hill.
Our research in our quarterly report demonstrates that the £3m+ residential market has experienced significant growth, with a 28% increase in total value and a 22% rise in transactions year-on-year. Despite a dip in 2023, these gains indicate a recovery, bringing the market back to nearly 2022 levels. Over the past five years, the market has surged by 89% in value, with transactions growing by 46% and price per square foot climbing by 18%. However, when adjusting for inflation (around 22.5% since 2019), the real growth tells a different story. In real terms, the £3m+ segment has seen a decline of about -3.7%, while the sub-£3m segments have dropped by approximately -7.65%. This highlights how inflation has eroded some of the market’s growth, especially in the more affordable price brackets.
Our co-founder, Sam Patterson also gives interesting insights on his observations on the property market given his cross-industry experience and global perspective.
Click here to download the full 2024 Q4 report.
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