Whether renting or buying a property in London, St John's Wood remains one of the most desirable places to live in the capital, reflected by the fact that it is home to some of the most expensive properties in the world.

1. St John’s Wood Property Market Remains Buoyant
Whether renting or buying a property in London, St John’s Wood remains one of the most
desirable places to live in the capital, reflected by the fact that it is home to some of the
most expensive properties in the world.
This prosperous part of North West London, in the City of Westminster, only a 15 minute
walk from Baker Street and London’s West End, features a high proportion of
independent retailers and offers easy access to the open green spaces of Primrose Hill and
Regent’s Park. It is also the location of the famous Lord’s Cricket ground and Abbey
Road Studios, where The Beatles recorded their Abbey Road album.
St John’s Wood estate agents report that property prices in and around St John’s Wood
have continued to soar, despite the global economic uncertainty, eurozone woes, and the
recent hike in stamp duty at the upper end of the market to seven per cent.
Liam Bailey, head of residential research at Knight Frank, commented: “Early indications
of the impact of the recent changes to stamp duty are that the market is so far proving
resilient.”
According to a new Knight Frank survey, home values in prime areas such as the Borough
of Westminster, increased by 1.1 per cent in April and are now 11.4 per cent higher
compared to the corresponding month last year.
Andrew Ellinas, director at Sandfords Central London estate agents, said: “In 2011,
Westminster and Camden together accounted for more £1 million plus properties than
Kensington and Chelsea - most of them in Sandfords' domain of Marylebone, Regent's
Park and St John's Wood.”
Demand for properties in St John’s Wood is being primarily fuelled by a growing influx
of foreign purchasers taking advantage of a historically weak pound, which has actually
reduced the cost of buying property in the UK for some foreign buyers, making central
London a particularly sound property investment option.
“Many [overseas property buyers] are looking for a safe haven asset class to take their
money away from the turbulence of the eurozone and the Arab Spring,” said Naomi
Heaton, chief executive of London Central Portfolio.
As well as high demand from property buyers, there has also been a shift towards more
people looking at property to rent in St John’s Wood as a preferred lifestyle choice; an
attractive proposition for property investors.

2. The high level of rental demand is reflected by the shortage of houses and flats to rent in
St John’s Wood, with most properties often let within days of being placed onto the
rental market.
Strong tenant demand is expected to push rents up by an average of five per cent in 2012,
following an average gain of 12% in 2011, with further growth anticipated moving
forward, according to property consultants Jones Lang LaSalle.
London’s population has grown every year since 1988, and it is likely that it will continue
its steady growth over the next few years, further fuelling demand for rental
accommodation in St John’s Wood and its surrounding areas, including Hampstead,
according to various Hampstead estate agents.
“There are likely to be 150,000 more London households renting [by 2015] than before
the financial crisis,” said Jones Lang LaSalle’s research director Jon Neale.