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Breaking Down September's Record Breaking Market

Date October 3rd 2015

Let's take a closer look at what was moving in London in the month of September.
$200-300k = 147 sales/average $249 565 (133 sales/average $248,105 for 2014)
$300-400k = 77 sales/average $334 448 (61 sales/average $342,569 for 2014)
$400-500k = 30 sales/average $429 322 (28 sales/average $445,429 for 2014)
$500-600k = 17 sales/average $538 371 (10 sales/average $525,914 for 2014)
$600-700k = 5 sales/average $663 000 (7 sales/average $670 114 for 2014)
$700-800k = 4 sales/average $742 750 (1 sale $757,000 for 2014)
$800k-900k = 5 sales/average $824 700 (0 sales for 2014)
$900k-1,000,000 =1 sale $900 000 (1 sale $910,000 for 2014)
 
Between 1 million & 2 million
2014-2 sales/average $1 225 000
2015-0 sales
 
Sales numbers drop by more than 50% between the $200-$300k and $300-$400k ranges.
And drop again by over 50% in the next 100k increment of $400-$500k
Above $600k we have a total of 15 sales of every price point capping out at a maximum sale of $900k 
 
If you have a home listed above $500k in London you may not have felt the flurry of activity that you are hearing about. 
Of the properties sold in September over $500k let's explore the breakdown between newer and more mature properties:
2015- $500k – 1 million under 10 years old -12 homes 
2015- $500k – 1 million under 10- 20  years old - 4 homes 
2015- $500k – 1 million under 20-30 years old 12 homes 
2015- $500k – 1 million 30+ years old - 8 homes 
 
And where they are choosing to live:         
500k – $2 million
North – 15 sales average $585 060 – included West to Hunt Club
South- 13 average price  $690 492 includes Byron Westmount and Riverbend
East- 4 included Old North (3 of these from Old North)
 Only two homes sold in September over $850k and nothing over $900k  one in south london with acreage and one in Old North
 
The majority of record breaking activity and high traffic continues to be in the homes priced under $400k.
 
 

 


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