FOXTONS
PRIVATE OFFICE
12 The London Report 2022 | Foxtons Private Office
In 2020, we saw an opportunity to provide a bespoke service for
buying, selling and letting London's most exclusive properties, so we
built a specialised team for this prime London market. In their first
two years, we're proud to say that this incredible team has surpassed
our expectations. They emerge now, in our next stage of
development, as Foxtons Private Office; a new way to broker
the city's rarest residential property.
65%
INCREASE IN
DEMAND
FROM PRIME
LONDON RENTERS
Foxtons using LonRes
data, long lets over
£2,000 per week in 2021
across prime London,
calculated on a rent per
square foot basis
Foxtons applicants
(renters) registering for
prime properties in 2021
compared to 2020
41%PREMIUM FOR
FURNISHED
OVER UNFURNISHED
0-1 2 3 4 5 6+
Number of
bedrooms
Buyers Renters
Prime sold include those over £3m in prime Central London and over £2.5m in outer prime London. Prime rented are £2,000
per week or higher across prime London
SPACE DEMAND
FOR LONDON'S PRIME BUYERS AND RENTERS
PROPERTY NEEDS OF FOXTONS
PRIME APPLICANTS 2021
12.8%
13.0% 14.4%
26.5%
38.7%
33.9%
18.7%
18.8% 12.4%
7.0% 2.9%
0.9%
An exclusive address
London remains a safe, secure and
globally attractive destination, seeing an
increase in activity over 2021 as travel
restrictions eased and vaccination efforts
took effect globally. International buyers
are a key demand source of prime
properties in London and as restrictions
eased, pent-up demand began to release.
Demand for the most exclusive London
addresses increased, and we registered
35% more applicants looking to buy or
rent prime London homes than in 2020.
Demand for prime rental homes was
particularly strong, increasing by 65%
over the year and 53% higher than in
pre-Pandemic 2019.
Quality and convenience are prerequisites
for the most discerning residents. For
renters, this increasingly means a desire
for a fully-furnished home, for which they
are prepared to pay a premium. Of all
homes rented in 2021 across prime
London, those let fully furnished with a
rent of at least £2,000 per week
commanded a 41% premium over
unfurnished. Furnished properties in the
same area, with a rent under £1,000,
achieved just a 7.2% premium, on
average (Foxtons, Dataloft, LonRes).