The Prime Central London branch of leading agents Anderson Rose has made a strong start to the year, with new instructions hitting record levels in comparisons to recent years and multiple properties near completion. Two areas attracting the most interest is St. John’s Wood and prime pockets of W2, which are proving popular with families and professionals looking for value in the capital.

In 2022, St. John’s Wood recorded a significant increase in price per sq. ft. values in comparison to other prime London districts, registering a 5.8% rise through the year, whilst prime pockets of W2, namely north of Hyde Park, such as Bayswater, achieved an uptick of 4.3% making it one of the highest performing areas[1].

Sales values in the two districts have also performed well, with properties worth over £5 million comprising 12% of all property sales in St. John’s Wood across 2022, with sales overall up 32% compared to 2019. W2 also performed well compared to pre-pandemic levels recording an increase in sales of 23.8%[2], which has been driven by a mixture of international and domestic families and individuals according to Anderson Rose.

Scott Joseph, Head of Prime Central London at Anderson Rose, commented: “Despite the political and economic issues that caused uncertainty in the market at the end of 2022, PCL has enjoyed a strong start to the year, and we have seen a large number of our activity levels focused on the St. John’s Wood and Marylebone areas, as well as prime pockets of North London. This has largely been driven by wealthy families, especially in St. John’s Wood where there is far more demand for modernised large family homes than supply, which is creating an urgent need for more stock.

“Since the turn of the year we have received some exciting instructions across W2, which is a market that is popular with families, but also professionals looking for a pied-a-terre or central London base when they’re working in the city. Already a lot of our enquiries have been for these two PCL hotspots and we expect to see that continue in the coming months.”

Not limited to the sales market, Bayswater W2 is the fastest growing rental market in PCL, with a 30.4% increase in rental values recorded in 2022[3] and further rises are expected this year due to an imbalance of available properties to meet exceptionally high demand.

Scott added: “Our lettings department remains incredibly busy, as the city has burst back into life following the return to the office, post-pandemic. Undoubtedly, W2 is one of our most popular areas for prospective tenants, with a strong list of willing applicants, but the challenge remains to continuously find new homes that are available.”

Currently Anderson Rose is marketing multiple apartments available to rent within a luxurious new-build development Kensington Gardens Square, W2. The two-bedroom units range in price from £1,685 to £6,249 per month.

On the sales market in W2, Anderson Rose’s instructions include a spectacular four-bedroom Grade II listed townhouse on Albion Street, on the market for £5.5 million and a stunning three-bedroom mews house on Lancaster Street for £3.25 million, as well as a grand three-bedroom apartment on Westbourne Terrace, priced at £1.795 million.

Available for sale on Abbey Road in St. John’s Wood is a unique three-bedroom mews house, on the market for £3.35 million. Presenting a fantastic opportunity for a family looking for a spacious home in the heart of St. John’s Wood, the 2,036 sq. ft. home has been finished to an exceptional standard and provides exceptional privacy.

With offices in prime central London, Anderson Rose is the premium estate agent of the area, possessing astute local knowledge that provides an invaluable tool to buyers and sellers alike, with the team able to provide a personally tailored service for all clients.