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Hamptons International Research
Hamptons International Research is a dedicated property research team devoted to producing innovative, robust and credible analysis of all sectors of the UK housing market.
As a part of the Countrywide Group, whose coverage of property sales in the UK is unrivalled, Hamptons International Research is able to draw on a rich and diverse pool of evidence which allows complete and robust sectoral analysis of the UK without concerns of sample size.
The team’s approach is to put the housing market in its real life context. Taking economic, political, social and cultural drivers into account and using new technology and the principles of big data analysis means Hamptons International Research is able to provide real insight into the market at both a macro and micro level. This, combined with its accessible style makes Hamptons International Research a leading voice in UK residential property analysis.
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House price growth ripples out.
House prices in London are now ten per cent above their pre-recession peak, but the average price in England and Wales is still ten per cent below. House prices in Greater London rose by 5.6 per cent in the last six months and almost seven per cent over the last year. That compares to a measly annual growth rate of just 0.8 per cent in England and Wales according to HM Land Registry.
But London’s outperformance is old news, as is the fact that the super-prime section of the London market is even further ahead. Super-wealthy buyer demand has helped to push prices in Kensington & Chelsea and Westminster up to 40 per cent above their pre-recession peak. What’s new is a clearer, and quite surprising, view of what is happening elsewhere in the capital.
In the last twelve months, house price growth in less elegant parts of the capital has overtaken growth in the super-prime sector. While prices grew fastest in fashionable Wandsworth in the last year, price growth in Hackney and Camden was only marginally lower at 11 per cent. Prices in these two boroughs are now more than 25 per cent higher than they were at the peak of the market. Other less expensive boroughs have performed surprisingly well too. Brent, Merton and Barking & Dagenham are all in the top ten fastest growing house price boroughs in London.
Looking at the South East region, house prices haven’t recovered as much as in London, but the pattern is similar. Up until now prices in the more expensive boroughs have grown fastest, but now the less leafy areas are catching up. Windsor and Maidenhead has had the biggest recovery in house prices since the pre-recession peak. Prices there are now almost four percent above their peak. But the rate of house price growth is not so far up the ranking. Prices in Reading are growing much faster–the fastest in the South East over the last year and over the last six months. But there is a lot of ground to make up - prices there are still six per cent below their peak.
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All this chimes very well with Hamptons International data which shows that activity in the most expensive areas is slowing, while it is picking up in more affordable areas. It’s this which explains the pick up in price growth in these previously lagging boroughs. What’s more, it could be a sign that the housing market recovery is at last becoming more widespread across London and the South East.