In the second half of 2011 there was further evidence of the revival in development activity in Midtown, City and Docklands. According
to London Residential Research starts were made across our markets from Bloomsbury to Canary Wharf on 383 private housing
units over the six months and the total number of private units under construction at the end of 2011 was in the region of 3,500 units.
One of the factors supporting the New Homes market since mid- 2009 has been demand from purchasers in the Far East, but there
was some evidence of cooling demand in the second half of 2011, certainly as far as overseas exhibitions were concerned. From
September there was evidence of a falling rate of sales at Far East exhibitions, which we attribute to a combination of exhibition fatigue,
the negative impact on London’s international image of the London riots and overall concerns about the impact of the Eurozone crisis on
London’s economy and the residential property market.

There were a limited number of UK-based launches in Midtown, City and Docklands in the second half of 2011, with two in particular
worth highlighting. At Central Square, Seward Street, EC1, Mount Anvil took 60 reservations from a launch in the third week of
September at an average asking price around £850 per sq ft. The overall scheme comprises 182 private housing units, 92 social
From Hurford Salvi Carr Research