Quarterly review of key luxury residential real estate market statistics for Q3 2022 in the London Postcode of NW3, including Hampstead, Belsize Park and parts of Primrose Hill.
Many people might be surprised that between July-September of this year, the £5M+ property segment in NW3 had 2% more listings compared to the same period in 2021, indicating supply on par with the year prior despite the adjusting marketing conditions. 38.4% of listings in NW3 have been on the market for over six months, highlighting your launch strategy's importance. Pricing correctly at launch is the first imperative to capture an optimal portion of demand and to generate more viewings. Next, generating momentum while the property is new and hot in the first four weeks is essential - carrying out pre-launch activities and holding overlapping viewing events to create a competitive environment between buyers to push the price up. In line with what we said above, the record price paid in NW3 of £2,657 per square foot was achieved before even launching on Rightmove. When we pitched on that house, we knew it was special. See link in bio to download the full Q3 report or to schedule a meeting to discuss your property launch strategy.