Value growth for properties in the Nine Elms development set to fall dramatically by 2020

Helen Cahill
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Price growth is set to slow in the development over the next three years (Source: Getty)

Value growth for residential properties in the Nine Elms development is set to fall dramatically over the next three years.

According to JLL, average value growth for residential property across Nine Elms was nearly 35 per cent between 2011 and the end of 2015. However, this is set to drop to growth of just six per cent by 2020.

Michelle Ricci, co-founder of property consultancy Propcision, said there was a high growth rate in the area between 2011 and 2015, but that the period from the end of 2015 "paints a different picture". She added that a positive growth rate for the area was a "bold claim, considering the political and economic year ahead."

Read more: The owner of this Nine Elms flat couldn't even shift it at its 2013 price

Andrew Frost, head of residential at JLL, said: "Regeneration across Nine Elms is a long-term commitment and it is typical for price growth in this context to occur in cycles.

"With the recent announcement regarding the arrival of Apple, the Northern Line extension and the completion of Battersea Power Station, Nine Elms will transform this part of the capital."

Apple announced recently that it would be moving its staff into the Battersea Power Station development in 2021, which mayor of London Sadiq Khan hailed as "a further sign that London is open to the biggest brands in the world and the leading city for trade and investment."

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