“The proportion of houses achieving £2,000 per square foot or higher in St. John’s Wood has almost quadrupled since 2015 to 19. No comparable location in prime London has seen close to that level of change.”
St. John’s Wood, with its tree-lined streets and white stucco-fronted houses, has long been a desirable location for both domestic and international buyers. While Mayfair, Knightsbridge and Belgravia are widely regarded as among prime central London’s (PCL) most expensive addresses, our latest analysis on £2,000+ per square foot houses shows that St John’s Wood is fast catching up and that NW8 is about to join the exclusive club of PCL postcodes.
While there is no strict definition of Prime Central London, looking at areas with high proportions of properties transacting at over £2,000 per square foot is a reasonable indicator. Since the start of 2022, across the area LonRes defines as PCL*, 44.2% of houses met this criteria. This is an increase of almost 10% compared to the period from 2015 to 2019. The chart below shows these figures, along with those for a selection of PCL and ‘Inner Prime’ neighbourhoods.
The results for 2022-23 indicate that, at 25.8%, St. John’s Wood trails behind the leading areas of Mayfair, St James’s, Knightsbridge and Belgravia on this metric, but when compared to 2015-2019 (pre-pandemic) the analysis show a completely different story. The proportion of houses achieving £2,000 per square foot or higher in St. John’s Wood in 2022-23 compared to 2015-19 has almost quadrupled. No comparable location has seen close to that level of change.
Source: LonRes. Data covers the 12 months to the end of April 2023.
*LonRes Prime London analysis includes properties within the following three areas: • Prime Central London: SW1Y, SW1X, SW1W, SW1A, SW3, SW7, SW10, W1S, W1K, W1J, W8. • Prime Inner London: NW1, NW3, NW8, SW1P, SW1V, W1T, W1H, W1U, W1G, W1W, W2, W11, W14. • Prime Fringe: SE1, SE11, SW4, SW5, SW6, SW11, W4, W6, W9, W10.
An independent, privately owned company, LonRes was established in 2000 as a subscription business-to-business data platform designed specifically to meet the needs of property professionals. Today some 5,000 residential property professionals working across prime London subscribe to what is widely regarded as the definitive database on the prime London sales and lettings market. LonRes tracks the prime London sales market in real-time, taking in sold prices and price movements - including price adjustments - and time on the market. LonRes has an unrivalled sales archive which dates back to 1979. LonRes lettings data, also in real-time, records – among other things - asking prices, price let and price adjustments. The LonRes lettings database dates back to 2004.