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Spotlight: London Development Spring 2015

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Demand from domestic buyers has driven price growth in south west London.

■ High prices in the central boroughs have driven buyers to the south west boroughs of London in search of better value.

■ Domestic buyers have provided much of the demand for new build homes. Last year 64% of new build homes in the south west were bought by UK buyers.

■ Price growth was strongest in the first half of 2014 with growth slowing in the latter half of the year. This was due to the effects of mortgage regulation and affordability constraints.

■ Crossrail has fuelled demand for popular ‘town centre’ locations, such as Ealing.

■ Savills expects 36,000 homes to be delivered in south west London over the next five years, the majority of which will be in the boroughs of Wandsworth, Lambeth and Hammersmith and Fulham. However, there are significant development opportunities in the outer boroughs.

■ Development opportunities come in all shapes and sizes in south west London. Availability of land, in areas such as White City and Nine Elms, has led to large-scale development in the three central south west boroughs. Yet, in outer south west London, the land market for smaller, niche sites is strong, particularly for UK players such as Berkeley Group and London Square.

■ Land buyers in south west London have typically developed the site themselves. The majority of overseas developers buying sites in the south west boroughs are from China and Pacific Asia.

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