Space Sells

The plentiful supply of houses and villas with generously sized gardens has made St John’s Wood one of London’s most buoyant local housing markets post-pandemic report leading agent Aston Chase on the back of the agency achieving £200 million worth of sales in the local market over the last few months.

Aston Chase highlight a 2008 St John’s Wood report, published by the City of Westminster, which shows that the housing density in St John’s Wood is one of the lowest in the Westminster authority, dominated by a mixture of detached, semi-detached and terraced houses set in generous gardens and along wide, tree-lined streets. This can be compared to the rest of the capital where one in five homes do not have any garden and places like the City of London where just 8% of homes have a garden.

The 2008 report also stated that the Conservation Area status of much of St John’s Wood has helped to maintain the leafy green character of the area and the low-density housing stock.  The urban village offers a family friendly neighbourhood close to the centre of London, and research by Natural England found that the average garden size in nearby Mayfair is just 13 square meters whereas the average size for gardens in St John’s Wood is almost nine times larger at 116 square meters. The generous gardens are complemented by easy access to the large open spaces of Regent’s Park and Primrose Hill which are both on the doorstep.

Aston Chase say that the many months of the COVID-19 lockdown has made Londoners want to “trade-up” and buy a house with a generously size garden or an apartment with outside space and proximity to a park. Across the London property market, homes with outdoor space continue to attract great interest. 33% of home buyers say the pandemic has made having a garden more important to them with 25% of buyers seeking access to more green space than they currently have, according to a recent YouGov survey.  This shift in buyer sentiment has helped to make St John’s Wood one of the most buoyant local housing markets in the capital.

Between May 2020 and May 2021, Aston Chase has sold some £200 million worth of property for clients in St John’s Wood alone, which equates to 30 property deals at average sales price of £6.6 million per home.

Aston Chase say that the American School in London and St John’s Wood High Street are both huge draws to the area as is the close proximity of both Primrose Hill and Regent’s Park. The high street boasts independent and luxury retailers, restaurants and cafés and yet still retains a village feel.  There is a lively and sophisticated vibe to the high street which has come into its own during the pandemic.

As lockdown lifts, buyers are increasingly able to enjoy the amenities of the high street which retains an urban village feel yet is located only ten minutes via the tube from prime central London.

Aston Chase has recently sold two properties in St John’s Wood both located within five minutes walk of the high street, both achieving close to £10 million. The detached, five bedroom, 3,509 square foot, house on Acacia Road sold for £9,750,000. Residents benefit from off street parking and a beautiful south facing rear garden and a large balcony that is accessible either from the garden or the second floor. Inside the property feels like its own oasis, the house is just moments way from popular eateries such as The Ivy, Soutine and the Good Life eatery.

On Norfolk Road, Aston Chase achieved a sale close to the asking price of £8,750,000 for a semidetached 4,327 square foot residence which provided six bedrooms, a rear garden and a large balcony on the fourth floor. Both Norfolk Road and Acacia Road are within easy walking distance to St John’s Wood Underground Station and illustrate the types of properties that have made up some of the recent sales successes for Aston Chase.

Currently available through Aston Chase, for £16,950,000, is a Grade II Listed detached house on one of the finest streets in St John’s Wood, Cavendish Avenue. The 5,360 square foot, six-bedroom, four bathroom, property has an exceptional 185 foot south west facing rear garden, a large driveway at the front of the property with parking for six to eight cars, and expanses of glazing and a conservatory which allow natural light to cascade into the living spaces. Cavendish Avenue is only a five-minute walk to St John’s Wood Underground Station with St John’s Wood High Street virtually on the doorstep and access to Regent’s Park just 10-minute walk away.

Mark Pollack, Co-Founding Director at Aston Chase said: “St John’s Wood is one of the most buoyant local housing markets in London at present. The large low built family homes with outside space have always been in demand in St John’s Wood but the COVID-19 pandemic has shifted buyer priorities and more than ever buyers want substantial outside space with St John’s Wood providing this and more. We consider ourselves fortunate to be able to offer buyers properties that meet their demands in a post-pandemic world. Whilst there has been a significant flight from the city to the country many people value the ability to have more space internally and externally yet remain within close proximity of the metropolis.”

www.astonchase.com