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  'Just a few words to thank you once again for your precious help, reassurance, commitment and hard work over the past few weeks' RC - Hampstead  
 

Top 25 Residential Property Buyers

 

 

London prime property market report

July 2017

Currently the only thing we can be certain of here in the UK is more uncertainty. However, this can create opportunities in the prime London property market.

Well before the mayhem of the General Election, activity and growth in London’s prime property market had been negatively impacted by other factors. The biggest of these was George Osborne’s 2014 stamp duty overhaul, which triggered a slowdown in activity. The downwards pressure on prices was exacerbated by the many unknowns following the EU referendum.

It’s hard to say what is coming next, but if the outcome of the general election is the engineering of a ‘softer’ Brexit – with a trade deal and freedom of movement – we would expect to see the market start to recover in the medium term. Meanwhile, uncertainty provides opportunity and we are presently working with clients who are taking advantage.

Even prior to the election, we were able to negotiate 23% off an already-reduced marketing price on a significant property for an overseas client. He was employing our services for the third time in 22 years, and whilst this latest purchase is unlikely to provide the capital growth he previously enjoyed, he continues to see London as a safe haven for his money. Needless to say, he was more than satisfied with the significant reduction we achieved.

Whatever happens in the short and medium term, we believe it will be some time before we will see the growth in property prices we have become accustomed to.

Prime London property prices were already ‘full’ by May 2014 and the market continues to adjust. Whilst capital growth in our homes has been dining table conversation for the last 20 years, it is important to remember that our home or pied-à-terre is not only a financial investment but an investment in ourselves and our family’s wellbeing.

In the meantime, London Property Search is delighted to have been recognised, for the fourth time, as one of the country’s Top Residential Property Buyers.

‘Eprivateclient’ is the leading website and news service for private client practitioners, including lawyers, accountants, trustees and IFAs. Eprivateclient identifies and recognises the top firms providing advice and services to ‘high net worth’ individuals worldwide, and each year it publishes a definitive guide to the best in each industry.

This repeat award is testament to our long tenure in London’s residential property industry, our 22 years of property buying experience and expertise, and the trust of our clients, who repeatedly recommend our services to others.

Previously the award covered the Top 25 firms but eprivateclient reports that fewer firms are listed this year because many of the less experienced property buying firms have struggled in the current market. This leaves a core of experienced firms – including us – who are equipped to weather the economic and political storms.

During such markets buyers need expert representation. Buying agents are increasingly essential for serious purchasers to make good decisions in a complex and shifting landscape. A genuine understanding of local markets (and people), of individual properties, and real experience of the art of high-value property negotiation – combined with access to elusive pre- and off-market prospects – means that the best, most innovative agents have more than earned their keep over the last few years.

As always, whatever the market conditions, our clients can be assured of our experienced and knowledgeable guidance in procuring their ideal property for the best possible price.

Sarah Van der Noot – Managing Director, London Property Search.

View Our Market Comment Archive
Market Comment: Summer 2016
Market Comment: Spring 2015
Market Comment: Autumn 2014
Market Comment: Summer 2014
Market Comment: Spring 2014
Market Comment: Autumn 2013
Market Comment: February 2011
Market Comment: September 2010

Market Comment: June 2008

 

 
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