_Knight Frank sets out UK and London 2022 property hotspots
2021 unfurled as another unprecedented year blown on its unpredictable course by a national lockdown in early January ( at time of writing), the ebb and flow of Covid-19 variants, boomerang buyers, double digit house price growth and a frenetic scramble to offer and complete on a property before the stamp duty ended on 30 September,
With Covid-19 freewheeling much of 2021's property landscape and driving what homebuyers wanted, and where they wanted it, it is hoped that 2022 may provide greater stability in the property market and confidence among 'wait-and-see' sellers to put their properties on the market as demand continues to outstrip supply.
Above: Leafy and affluent Richmond is back on buyers' radars after an exodus to the country and coast
Provided we are not blown off course by the new Covid-19 Omicron variant, Knight Frank's research team have pinpointed which UK and London areas are set to outperform others based on evidence gathered from the property market in recent months.
One clear trend is that London is back in business. Knight Frank's applicant data shows strong demand for property in the capital, with a renewed interest in prime central London (PCL) and affluent, leafy suburbs such as Richmond and Wimbledon as buyers look for more space or a well-connected bolt hole.
“We are seeing more buyers registering, including from the Middle East and overseas, but it still feels like the market is in a holding pattern,” said Christian Lock-Necrews, head of Knight Frank’s Marylebone office. “Most of our activity is still linked to domestic buyers who have sold their house in outer London, moved to the country and now want a central London base.”
The London areas that saw the biggest increases were in PCL, led by Marylebone (86%) Belgravia (85%) and Mayfair (78%) according to buyer registration numbers recorded by Knight Frank in the 3 months to November 2021. The number of offers accepted in prime central and prime outer London also hit a ten-year high seeing a 116% increase compared to last November.
This is a stark contrast to early 2021's predicted hotspots which saw commuter-belt favourites Cobham, Esher and Guildford record triple-digit prospective buyer registration growth according to internal data.
Outside of the capital, 22% of all offers accepted in the UK in November were related to a move into London from outside the capital, the highest figure since January 2019 and reversing the trend that saw buyers shun big cities in favour of rural locations.
However, the affluent, 'best-of-both-worlds', Surrey towns of Esher and Weybridge still proved popular among prospective homebuyers with Knight Frank's local offices reporting higher prospective buyer registrations compared to the same period in 2020.
The firm's Edinburgh office also recorded double-digit applicant growth with homebuyers keen to get a slice of real estate in Scotland's capital - and one of Europe's most beautiful cities.
London back in business - what's new
Based on Knight Frank's data, homebuyers are re-kindling their love for the capital's traditional postcodes in well-connected, established areas.
We speak to some of Knight Frank's neighbourhood agents who reveal what's 'new' in their patch, where's up-and-coming, and what buyers want after nearly two years of a pandemic-induced change in appetites.
Marylebone
Most popular streets
"As always Marylebone High Street is the winner, but most recently Chiltern Street and Portland Place are key destinations for incoming residents".
Everyone is talking about
"The Nest Rooftop bar in the Treehouse hotel – undoubtedly one of the coolest most in demand spots in London. Again Chiltern Firehouse is still the place to be seen".
Where to hang out
"Where do Marylebone folk go to hang out? Insider knowledge/tips Entrecote remains as busy and popular as ever, the Marylebone restaurant being the first to open in London.
"But any of the eateries along Chiltern St or Blandford St will provide the buzz that Marylebone provides, try Shreeji news for coffee, or Trishna for some incredible Indian/Fusion cooking".
Contact Knight Frank Marylebone
Richmond
Most popular streets
"The roads around St Margaret's Village have become very popular over the last 18 months, offering more value for money have seen significant price growth".
Everyone is talking about
"Knoops Chocolate & Amazon Fresh have recently opened on Richmond High Street".
Where to hang out?
"The Cricketers on Richmond Green & The Old Ship, just off Richmond High Street are popular hangouts especially in the summer".
Queen's Park
Most popular streets
"The roads and streets east of Queens Park remain extremely popular due to their prime locations. The Kensal Triangle has also seen significant price growth and roads such as Leighton Gardens and Hardinge Road have been very popular.
"There’s also been high demand in the Mapesbury Conservation area which offers large period detached homes with massive gardens".
Everyone is talking about
"Storm LDN, Planet Organic, Provenance, Gail's on Chamberlayne Road, The Kensal Store".
Where to hang out?
"Milk Beach, The Farmer's Market outside Salusbury Primary School, The Alice House, The Parlour, Paradise, The Maqam Centre, The Island, Sonora café".
Contact Knight Frank Queen's Park
Battersea
Most popular streets
"The Battersea Power Station is the address to own in 2022. It is by far the coolest area of Battersea. The apartments themselves are stunning and are surrounded by an amazing selection of restaurants, bars and amenities".
"With the new Zone One tube station already in operation and high-end luxury retail space set to open in 2022, The Battersea Power Station is certainly the best place to live, not just in Battersea, but in the whole of South London".
Everyone is talking about
"Circus West Village at the Power Station. From Gordon Ramsey’s Street Pizza where you can get all you can eat slices for just £15, to the Battersea Brewery which serves up a huge selection of delicious beers all brewed on site, there is something there to tickle everyone’s taste buds".
Where to hang out
"Apart from the Battersea Power Station, there are a great number of other fantastic hangout spots that are very popular with Battersea locals; Home Boy Modern Irish Bar at Embassy Gardens serves the best
Guinness in South London.
"Sendero Speciality Coffee serves a cracking brew at the top of Queenstown Road. If brunch is your thing, join the usually large queue of hungry locals outside The Farmer’s Mistress on Battersea Park Road and try their amazing buttermilk fried chicken and waffles stack, you won’t regret it!"
Contact Knight Frank Battersea
Wimbledon
Most popular streets
"The roads and streets that surround the High Street in Wimbledon Village have been some of the most popular locations for buyers and these streets have seen significant price growth over the last 12 months".
Everyone is talking about
"Provenance Butchers have just opened in the village and we how have some amazing delis in Collette and Prezzemolo & Vitale".
Where to hang out
"Hemingway’s or the Rose and Crown in the Village are a couple of good local hangouts".
Contact Knight Frank Wimbledon
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