A new dawn
This year can’t possibly be as turbulent as the last (we hope), but what does that mean for the London market? Annunciata Walton talks to those in the know
Toby Whittome, Director Chelsea Sales at JacksonStops & Staff Sales-wise, the market is gradually coming to terms with Stamp Duty (SDLT) rates and the fact that Brexit isn’t going to happen overnight. Although uncertainty will linger, there is evidence that both vendors and purchasers see 2017 as a year to climb off the fence and make a move. Our offices in Pimlico, Holland Park and Chelsea are already seeing a higher rate of enquiries from buyers.
In prime central London, we anticipate increased demand for quality rental property. A shortage of supply is likely to result in rental returns improving. Tenants are becoming increasingly discerning and expect rental properties, regardless of their size, to be well appointed and well managed.
Jeff Doble, CEO at Dexters Proving resistant to economic or political influences in 2016, the capital’s market still has plenty of buyers, both local and overseas, who all recognise that London continues to be a uniquely safe bet in the long term.
We expect the opening months of the year to be particularly busy, as buyers jump in where they see good value, good location or both, regardless of season. As such, sellers should get in there early and put their home on the market—there will be a lot of choice to contend with come March.
Charlie Willis, Head of London Residential at Strutt & Parker We’ve had more than 18 months of headwinds and uncertainty, but prime central London retains its