Knight Frank

Super-prime new homes in London are expected to achieve record values of up to £10,000 sq ft within the next five years, fuelled by an influx of wealthy overseas investors and lack of housing supply, according to Knight Frank.

The recent boom in prime central London property prices has benefitted homes in premium locations like Mayfair, Chelsea and Knightsbridge, with prices rising from £1,000 sq ft in 2000 to over £7,500 sq ft, as achieved for new build apartments at One Hyde Park - believed to be the most expensive price for any home in the world.

The supply of residential land for development in desirable locations, particularly in the south of England, is failing to keep pace with existing demand, with competition among new home developers intensifying for the very best sites, according to research conducted by Knight Frank.

Property prices in prime central London are expected to continue rising next year, according to the latest forecast from estate agent Knight Frank.

Prices of new build homes in London's hotspots are expected to surge by up to 140% by the end of 2015, according to Knight Frank.

A growing number of overseas property investors are looking beyond property investment opportunities in London and buying large homes in Surrey, including new build properties, according to Knight Frank.

A collection of luxurious new homes are to be built near King's Road, Chelsea, on a plot which was purchased a few days ago for £85m by a hedge fund.

The new development, called The Glebe, is being tipped to become the most expensive address in London, overtaking One Hyde Park in the process, with experts expecting an individual new home to sell for as much as £35m, if not more.

Property prices in central London reached a record high in July, fuelled by growing demand from overseas nationals, particularly Europeans, seeking to escape economic instability back home, according to the latest Knight Frank report.

A planning application submitted by GC Campden Hill for the construction of luxurious new homes in Holland Park, west central London, has been given the go-ahead by Royal Borough of Kensington and Chelsea councillors.

A plan to build 472 new homes in Fulham, West London, has been approved by Hammersmith and Fulham council.

With growing signs that the recent property price boom in Central London will ripple out to other parts of the capital, fuelled partly by a shortage of new build homes, London-based housebuilders have increased the number of housing starts in outer London boroughs, in anticipation of greater capital growth.