Reading some recently released data certainly focuses the mind. Cast your mind back to 1983, a house on Argyll Road in W8 cost £370,000. The same house is currently for sale at £8.5m…A house on Kildare Terrace, W2 was £295,000 in 1992, today the same house is on sale for £4m. How about the popular houses on Courtnell Street? Currently they sell for around £3m but back in 1990 you could have brought a chunk of the entire street for that amount as they were selling for £250,000 a time! As a reference, the cheapest new Ferrari available in the early 90’s cost it’s first owners £75,000 and would now be worth less than half that amount.
Will we look back in the 2030’s and lament the days when you could buy a two bedroom flat (circa 1000 sq. ft.) for between £1.5m and £3m? Will you be able to buy anything in Kensington And Chelsea for under £3m by then?