kensington

Bankers Buying in London: Luxury Home Prices on the Rise

After 17 months of misery, luxury home prices in London are finally up on an annual basis. Banking and hedge fund industry professionals are spending money again, largely because they're being paid again. Homes with values of above $1.6 million appreciated 1.6 percent in November compared to the same month last year. This was the first annual increase since June 2008. Nonetheless, prices remain 15 percent lower than the March 2008 peak. From October to November, prices grew 1.2 percent.

Liam Baily, head of residential research at Knight Frank, told Bloomberg News, "Anecdotal evidence from across our offices suggests that City money is becoming more apparent as we get closer to the end-of-year bonus season," continuing, "Demand from senior management is driving the market." Bonuses could wind up growing by 50 percent this year to 6 billion pounds in London's largest financial districts, and professionals in this industry are responsible for half the city's demand for luxury homes.

For homes at prices of more than $16 million, the price increases are even better: 1.9 percent from October to November this year. Residences in Chelsea, Kensington and Knightsbridge got the biggest boosts.

This has led to a bit of optimism. Luxury real estate could reach May 2008 levels by 2012, up to two years earlier than expected.

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Tags: bank, banker, bankers, banking, banking sector, BankingSector, Chelsea, hedge fund, Hedge Fund Managers, Hedge funds, HedgeFund, HedgeFundManagers, HedgeFunds, kensington, knightsbridge, london, London England, LondonEngland, luxury real estate, LuxuryRealEstate, real estate, RealEstate, united kingdom, UnitedKingdom

Kengsington Pram

by Star Sutherland (RSS feed) —

Filed under: Children

I've been trying to figure out who makes the vintage looking prams that I see celebrities pushing, and I finaly have, a company called Silver Cross. Unfortunately the price is a little out of my range, (I'm going to see if I can find a real vintage pram and restore it) but for any new parent that doesn't mind shelling out around three grand for a stroller, the Kensington is the coolest carriage that money can buy! Classically beautiful (you are going to cause major "stroller envy" at the park) and hand built, Kensington carriages are also conveniently collapsible. Adhering to the highest safety standards and comfort requirements, the specialty wheels provide a unique gliding sensation unmatched by other strollers. Kensington prams are available on the petit tresor website for $3,295.

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Tags: baby carriage, BabyCarriage, Kensington, pram

Most Expensive Streets in the UK

by Nicole Weston (RSS feed) —

Filed under: Estates

Mouseprice.com, a property research site that is similar, in concept, to sites like Zillow, compiled a report on the most expensive streets in the UK based on average property values. The two top streets are in Kensington and Chelsea, with average home prices at over £5.5 million on Kensington Square and over £5.0 million on Chelsea Square. Fortunately for those buying into the market (but somewhat less fortunately for those selling), these areas have also exhibited some of the slowest gains in value over the last few years, meaning that those looking to purchase in the near future shouldn't worry about being priced out of the market just yet.

For a more specific look at various parts of the country, check out Mouseprice's full report, or read the full top twenty listing after the jump:

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Tags: britain, england, kensington, property, real estate, uk, wales

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