Winkworth Clerkenwell Estate Agents has today published it’s quarterly market insight, analysing trends and the outlook for the Clerkenwell residential property sales and lettings markets.

Ralph Shand, Sales Manager, Winkworth Clerkenwell, comments:

“The year has started well for our office – we have seen a 14% increase in applicants and 15% increase in sales agreed. This strength has resulted in a significant rise in values achieved per square foot and in our opinion the market is outperforming the previous peak reached in 2007 in terms of values achieved per square foot.  This quarter we have been marketing a new build development of four apartments at £850 per sq ft, easily outstripping similar properties in the local area. Two apartments have already completed and one is under offer, to a mixture of investors and owner occupiers.

The investment theme is strong in Clerkenwell, with investors looking for good opportunities outside the core prime areas of London where the market is currently exceptionally competitive. The Crossrail development has had a significant effect on the perception of the area and values have increased some 12% since the green light. An increase in demand for property in the area has stemmed from both Crossrail and the development of the sites for the 2012 Olympic Games with many of the contractors being accommodated here.

Supply remains very restricted in Clerkenwell and the demand that we are seeing means properties are selling quickly. All of this would imply a positive outlook for average values in Clerkenwell for the foreseeable future”.

Clicke here for a full copy of the report.