East London is the new cool and Keira Knightley knows it

This is a legacy post from the findaproperty.com blog which is now maintained as an archive within the Zoopla blog. Links have been preserved.

FindaProperty’s eyebrows shot up a couple of weeks back when we learned that film and theatre star Keira Knightley had purchased a new home in East London’s Shoreditch for £2 million.

New East London resident Keira Knightley may frequent celebrity friendly haunts like Shoreditch House

But on second thoughts, it wasn’t really all that surprising, given East London has been on the up with artists, actors, musicians and TV personalities for the past few years.

Our sister site Primelocation.com has been looking into what’s happening in East London and dug up some interesting stats.

According to the latest Prime Index, which tracks the top of the UK housing market, prime prices in East London have risen 1.5 per cent in 2011 so far. The real picture emerges when you compare this finding to what’s going on elsewhere in the capital. In North London – where Kate Moss and Jude Law have homes – prices were flat with no change on the previous month.

Savvy celebs, like Knightley, who’s currently starring in hit play The Childrens Hour in the West End, certainly seem to be increasingly turning to areas like Shoreditch and Bethnal Green where they get a better bang for their movie and music buck, as well as a more bohemian atmosphere.

Prime properties in East London start at £500,000, compared to nearly £1 million in the more traditional celeb-heavy areas of North London. So, it makes sense really, especially if you’re a young star who spends a fair whack of her time in Hollywood or New York.

For those that are interested, Knightley’s 18th Century Shoreditch mansion apparently doesn’t skimp on the glamour and includes a cinema room, a music parlour and a library to keep the famously reserved actor entertained.

Other East London-based celebrities include:

  • Bethnal Green – Alexa Chung (model and TV presenter)  and Alex Turner (Arctic Monkeys), Kate Nash (singer), Jarvis Cocker (musician and DJ)
  • Spitalfields – Tracey Emin (artist), Jeanette Winterson (writer), Gilbert & George (artists)
  • Stamford Hill – Leona Lewis (singer)

February 21, 2011 at 1:02 PM Leave a comment

The Zoopla blog as a Wordle

February 21, 2011 at 10:09 AM Leave a comment

Locations with the most reduced property asking prices

Barnt Green, Birmingham - 20.4% reduction in price since coming to market

Our latest research shows that both the total number of ‘price-reduced’ properties on the market in the UK and the average amount by which they have been reduced have climbed over the past 3 months.

Key points:

  • Average asking price reduction climbs 16.3% over last 3 months to £18,475
  • 37.4% of all properties on market today have been reduced at least once
  • Average discount to original price now at 6.9%, up from 6.1% 3 months ago

As a result of weaker than expected demand in the last half of last year, those selling property have progressively reduced asking prices to more realistic levels in order to secure a buyer. The traditional influx of new properties on the market at the start of the year has created even more intense competition amongst sellers. Even the resilient £1m+ market is showing signs that it is not immune from the general economic pressures as reductions have jumped at that end of the market as well.

The findings show that, 37.4% of all properties listed for sale today have experienced at least one price reduction since coming to the market (up from 36.4% in November) and the average discount now stands at £18,475 or 6.9% off the original asking price (up from £15,879 or 6.1% in November).

Below are the areas with the most / least asking price reductions and areas with the hightest / lowest average asking price reductions.

Handy tip: Zoopla allows you to sort your search results by properties that are most-reduced in price and is proving a real hit amongst property hunters. Why not give it a go…

Top 10 Areas with Most House Price Reductions

Rank Location % of Homes on Market Reduced Avg. Price
Reduction (%)
Avg. Price
Reduction (£)
1 Birmingham 48.4% -7.1% -£11,547
2 Swindon 46.8% -6.6% -£13,330
3 Norwich 46.6% -6.7% -£15,198
4 Coventry 46.4% -7.6% -£11,825
5 Bournemouth 44.1% -6.8% -£17,425
6 Doncaster 44.0% -7.0% -£12,318
7 Wolverhampton 44.0% -6.5% -£9,366
8 Chesterfield 43.6% -6.3% -£8,927
9 Derby 42.7% -6.9% -£11,726
10 Poole 42.7% -6.6% -£26,498

Source: Zoopla.co.uk

Top 10 Areas with Highest Average Asking Price Reductions

Rank Location Avg. Price
Reduction (%)
Avg. Price
Reduction (£)
% of Homes on Market Reduced
1 Bolton -8.0% -£11,287 38.6%
2 Newcastle -8.0% -£17,641 30.5%
3 Rotherham -7.9% -£10,457 39.8%
4 Liverpool -7.9% -£12,936 35.5%
5 Maidstone -7.8% -£18,116 42.0%
6 Ashford -7.7% -£18,104 39.2%
7 Warrington -7.7% -£15,086 38.5%
8 Glasgow -7.6% -£10,340 40.4%
9 Coventry -7.5% -£11,825 46.4%
10 Manchester -7.5% -£11,937 32.8%

Source: Zoopla.co.uk

Top 10 Areas with Least House Price Reductions

Rank Location % of Homes on Market Reduced Avg. Price
Reduction (%)
Avg. Price
Reduction (£)
1 Chorley 24.1% -6.7% -£15,028
2 Newcastle 30.5% -8.0% -£17,641
3 York 31.5% -6.1% -£21,422
4 London 31.8% -6.6% -£45,664
5 Hull 32.5% -7.1% -£8,230
6 Manchester 32.8% -7.5% -£11,937
7 Stoke-on-Trent 33.2% -6.1% -£8,261
8 Wakefield 33.4% -6.4% -£12,809
9 Wigan 33.6% -6.7% -£8,853
10 Cardiff 34.1% -5.8% -£16,674

Source: Zoopla.co.uk

Top 10 Areas with Lowest Average Asking Price Reductions

Rank Location Avg. Price
Reduction (%)
Avg. Price
Reduction (£)
% of Homes on Market Reduced
1 Chelmsford -5.3% -£15,779 34.2%
2 Luton -5.7% -£11,238 40.7%
3 Cardiff -5.8% -£16,674 34.1%
4 York -6.1% -£21,422 31.5%
5 Stoke-on-Trent -6.1% -£8,261 33.2%
6 Northampton -6.1% -£11,377 41.7%
7 Leeds -6.3% -£12,074 35.6%
8 Chesterfield -6.3% -£8,927 43.6%
9 Wirral -6.3% -£11,600 42.1%
10 Brighton -6.3% -£21,716 38.1%

Source: Zoopla.co.uk

Here is the full list of 50 key locations with property price reductions and the full property price reduction research

As always, please feel free to share and use this information, all we ask is that you credit the source as Zoopla.co.uk and link to either Zoopla.co.uk or blog.zoopla.co.uk. Thank you.

February 17, 2011 at 2:18 PM 3 comments

Ashton Kutcher puts LA “bach” pad on the market … for a good cause

This is a legacy post from the findaproperty.com blog which is now maintained as an archive within the Zoopla blog. Links have been preserved.

Nice guy Hollywood toyboy Aston Kutcher has put his LA bachelor pad on the market. The actor and producer, who married Demi Moore in 2005, purchased the property in 2004 for $US1 million.

Now, the 33-year-old, who’s as famous for his twitter persona @aplusk as his starring roles on screen, is selling the home, with a cut of the proceeds to benefit the Demi and Ashton Foundation (DNA), which raises awareness about child sex slavery and helps in the rehabilitation of the victims. Kutcher has also offered tours of the home and is selling off some of the furniture he’s used for staging events there – all in aid of DNA.

The four bedroom two-storey home in Los Angeles is thought to be very close to Kutcher’s heart, with Zillow.com reporting that he and his dad Larry rebuilt the house as a father-son project. The actor never moved into the property, instead marrying Moore.

“This house is close to my heart, since my dad and I spent a lot of time planning, visualizing and renovating the entire property,” Kutcher says.

At 3,235 square foot, the home is modest by celebrity standards. Although FindaProperty is pleased to see there’s still more than a touch of celebrity star dust sprinkled about – an infinity-edge spa  spills into an infinity-edged pool which spills into an infinity-edged waterfall. There’s also a wine “tower” room and a professional home theatre.

The property is for sale through Gary Gold of Hilton and Hyland for $US2.6 million.

February 17, 2011 at 1:21 PM 2 comments

A room with a view

This is a legacy post from the findaproperty.com blog which is now maintained as an archive within the Zoopla blog. Links have been preserved.

FindaProperty just loves a watery vista so we couldn’t go past this absolute cracker, courtesy of this four bedroom home in Chiswick, west London.

The rest of the property is rather nice too – there’s a reception room which opens up to a balcony (from with the aforementioned views across the Thames and Kew Bridge can be seen). Inside the home, it’s bright and airy with bags of modern touches.

It’s perfect too for those with green thumbs – there’s a garden included – plus you’re only a short skip away from world famous Kew Gardens.

The property is on the market through Foxtons for £1.295 million.

February 17, 2011 at 12:08 PM 1 comment

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