What is happening in the London property market since we came out of lockdown three weeks ago?

After all the panic and uncertainty we have gone through in the last couple of months it’s great to see some real focus back in the Prime Central London housing market. 

Enquiry levels are good (slightly less than usual but much better quality/more serious and motivated) and although getting access in to properties has been tricky in some circumstances due to social distancing, the viewing levels are getting busier as time goes on. 

I am being asked regularly by buyers and sellers how prices have changed Pre - and Post - Covid. 

Of the few agreed sales that we have had to renegotiate on during and after the lockdown, they have been averaging at 1 - 4% down.

It’s probably still too early to tell if this is representative of the whole market because every sale has many variables which need to be taken on a case by case basis. 

People who were looking to buy before lockdown are still looking now which is encouraging and we are seeing a lot of UHNW international buyers enter the market particularly keen on super prime new build properties.

In general the market is gradually picking up pace, the offers are starting to come in and we are hopeful of more stability in the coming weeks. 

If we can help in any way with your property sale or purchase please do get in touch ASAP on 020 7866 2448.