Philip (London sales manager at Benham and Reeves)

According to official figures just out, the average UK house price was £294,000 in December 2022 – down from £296,000 in November 2022. However, this is £26,000 higher than the same period a year ago. So, what does this tell us as we emerge from a winter of high bills and inflationary pressures?

Demand for housing stock and the continued investment from overseas investors: these trends continue to act as twin shock absorbers, shielding the UK housing market from sharp swings or sudden drops.

The start of 2022 saw a return to normality for the London residential property market as both homeowners and investors proved keen to resume their property buying plans now that Covid lockdowns are firmly in the past.

It’s no secret that the UK has seen its share of political upheaval over the last few weeks. But as we see a new Prime Minister, Rishi Sunak, taking the reins at Ten Downing Street and bringing stability and confidence to the UK once again, many overseas investor clients have been reviewing their portfolios and asking us about new opportunities to invest in London residential property.

A somewhat turbulent end to September (to use the Government’s own description) finds the London property market having to deal with the opposing forces of stamp duty cuts and interest rates increases. The stamp duty tax cut announced on the UK Government’s recent ‘mini-budget’ will raise the threshold at which the levy becomes payable from …

Continue reading “Weak pound will continue to stimulate activity among overseas buyers”

We’re seeing good demand from domestic buyers looking to find a new home, as London’s professionals continue to re-assess their lifestyles and adapt to new post-Covid ways of living and working.

The desire to buy property in London remains strong and the market is fast-moving. Our London estate agents have some good stock coming onto our books and we have very motivated sellers who are keen to make their next move. This will ease stock levels a little over the coming weeks however realistically we don’t expect the impact to be significant and property shortages will remain a challenge.

There’s a sense of optimism in the London property market right now, with demand from buyers strong, despite uncertainty caused by interest rate rises and the increasing cost of living. Yet confidence remains high and these issues don’t seem to be detracting from the desire to buy a property in London.

Demand for homes in London continues to grow and our team of London estate agents is seeing enquiry levels increase steadily, especially as we move into the summer months – traditionally the busiest sales period for London properties.

Shortages of property for sale in London is continuing with the number of properties for sale still historically low, with apartments in particularly high demand, both from owner occupiers and buy-to-let investors. The scarcity of properties and rise in the number of potential buyers, is causing property prices in London to grow at their fastest rate …

Continue reading “Property shortages and price hikes continue in London”

Demand for residential property across London continues to grow, with enquiries from both homebuyers and investors rising as we move into the second quarter of 2022.  We’re carrying out increasing numbers of valuations for sellers and enquiry levels are growing too, while many sales that were agreed at the start of the year are now …

Continue reading “The London property sales market sees growing momentum”

Any lingering doubts about Kensington’s reputation as one of the Prime Central London districts can easily be settled by taking a stroll down its vibrant main thoroughfare. Starting at the majestic museum quarter and ending at the ornate gates of Holland Park, Kensington High Street cuts a glamorous route through the entire area. In between, …

Continue reading “Is Kensington still considered prime property?”