Top end of housing market stays strong
Despite interest-rates rises, demand for luxury homes shows no sign of abating.
Developer Northacre sold a penthouse within its redevelopment of the former New Scotland Yard site in central London for £19m at the end of last year.
The firm’s The Broadway, designed by Squire & Partners, include 258 homes from one to five bedrooms and resident facilities such as a gym, spa and games room.
Simon Edwardson, head of sales at Northacre, says interest in top-level residences in central London is “showing no signs of waning”.
“We have seen a vast cross-section of purchasers and demographics resulting in £50m in sales in November, from one-bedroom apartments to penthouses,” he says. “This momentum looks set to continue well into this year.”
A paucity of competition at this level keeps interest high in properties that can offer a combination of views, space, location and specification, Edwardson adds.
“Domestic and international buyers alike want to own an exceptional piece of the fabric of London,” he says.