GOOD NEWS ON HOUSE PRICES, plus offices: "New York, Paris, San Francisco, Cricklewood!"

Link to Evening Standard

"Prices [have been rising sharply in outer London]. Builders in Zones 3-6 have been achieving average prices of £464 per square foot — up 11% on 2012.

"... Adam Challis, head of residential research at Jones Lang LaSalle, says:

"This is a market that is almost all driven by domestic demand."

"... Chris Hiatt, director of office agency at Jones Lang LaSalle [you can tell which firm the Evening Standard phoned, can't you?] says:

"New 'emerging' centres of commercial activity will appear in the outer boroughs over the next six years. .... Wembley, Cricklewood, Stratford, the Royal Docks and the Greenwich Peninsula [are] 'London’s emerging centres'.

The creation of new office districts in London is a proven phenomenon. Now we await the next wave of new districts — with areas like Croydon and, five or so years down the line, Cricklewood expected to come to the fore as viable commerical locations.

This is a trend we are seeing across the globe, with New York, Paris and San Francisco office markets all expanding beyond ‘traditional’ districts. The major push factor is the under-supply of the right type of Grade A office space, combined with the high cost of offices in more central locations."

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