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Market Reports

March 2014 – Mayfair`s Most Expensive Flat

At £5,130 per square foot, Mayfair`s most expensive flat ever underlines Grosvenor Square`s ascendency as London`s most expensive square. Download the full report here…. Priced at a record £5,130 per square foot, the spacious, lavishly refurbished, £18 million ultra-prime apartment (No. 4) at 18 Grosvenor Square is the most expensive apartment ever released onto the Mayfair market: through selling agents Wetherell. This latest ultra-prime apartment typifies a “new generation” of …Read More

January 2014

To paraphrase Winston Churchill – “the further ahead you need to look then the further back you need to go” – with the New Year now actively up and running: I have been researching the January residential sales market in Mayfair over the last 10 years. The average number of January sales over the last decade has been 9 with the lowest year being 2008 when only 3 properties were …Read More

December 2013 & Year Round Up

Wetherell has reviewed their 2013 sales data, utilised their local market intelligence and cross-referenced this with the 12 month Mayfair sales data from Lonres: the result is a detailed insight into the key buyers, product and pricing trends in one of the worlds most expensive and high profile housing markets. Almost £475 million pounds worth of residential houses and apartments have been sold in Mayfair during 2013 The best properties …Read More

November 2013

Christmas is coming and the sales market is still busy. The last quarter of the year for Mayfair property is always an interesting 3 months with an average of 23.4% of yearly sales over the last 10 years. So far this year’s Q4 is showing half that number but the under offer pipeline will bring the sales up to average –however the interesting aspects are that apart from one £20m …Read More

Soho & Mayfair are the Superstars in London`s West End

Planning applications for new luxury homes have almost doubled; £88 million worth of two bed flats sold in just 12 weeks; resi prices have reached new record highs; Mayfair is the West End’s most expensive address and Soho has overtaken Marylebone to become the district’s new residential development hotspot. These are some of the findings of a new analysis of the residential market in London’s West End by estate agent …Read More

September 2013

ONLY 589 DAYS TO THE MANSION TAX? It is morally obscene to regard wealth as an anonymous, tribal product and to talk about “redistributing” it. This quote from the 1930’s by the novelist and controversial philosopher Ayn Rand might sum up property owners’ opinion on the Liberal Democrats proposal for a yearly “Mansion Tax” at 1% on properties valued over £2 million. So “politically neutral” is this proposal (i.e. it …Read More

August 2013

FROM DIPLOMATS TO DRAWING ROOMS Working with The Diplomat Magazine, Wetherell have published a report on the London Embassy market highlighting that over 10% have either sold or are considering a move for either financial or security reasons. Mayfair and Marylebone have over 41 embassies (out of a London total of 165) that could capitalise on the rise in values of residential especially when there have been increases of up …Read More

July 2013

Independent: (Adjective) Free from outside control; not depending on another’s authority. Specialist: (Noun) A person who concentrates primarily on a particular subject or activity; a person highly skilled in a specific and restricted field. Heart: (Synonym) Core – soul – pith – courage – mind – spirit Mayfair: 285 Acres – 144 streets – 4,363 residential addresses – 5,200 residents. I have spent the last 30 years practicing the work …Read More

June 2013

So far this year the Mayfair residential property market is ahead of last year in the number of sales although the last month has slowed down at the top end with the general activity being in the market up to £5m. 30% MARKET SHARE / RECORD SALE For May nearly 50% of the market was focused on properties up the £2m. This is threshold after which SDLT (stamp duty land …Read More