Friday 9 February 2018

Coutts review of prime residential supply

Coutts seeing a lot of new supply in prime/ super prime markets. I believe annual sales of new and old properties is something like 6000. 

Not sure their build pipeline numbers are correct, for example, they have a little over 2200 units being built in Fulham and Earls Court, but there are individual projects here in the 1300-2200 unit range and the Earl's Court redevelopment is now 10k units. For example Fulham Gas Works is now at ground clearance stage and that is 1375 units by itself.  

Its great the property is being built, but as soon as Chinese offplan buying realises the game is up, the local market clearing price is going to be a lot lower than the current targetted sales prices.

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