In our regular “State of the Market” series, where we ask some of London’s leading buying agents for their views on the residential property landscape, our contributors, Simon Connell (Forbes Gilbert Green), Tom Kain (Black Brick), Reme Nicole (DDRE Global), Richard Rogerson (RFR - The Buyer’s Advisor) and Jane Wood (London Property Finders), offer their assessment of current conditions.
They describe a market that has swung noticeably between confidence and caution in the first part of the year. Many reported that clients held back ahead of the Budget, with activity picking up quickly once the relatively muted announcements had passed and reaching levels similar to more active years of the past. That momentum has since eased again, with several agents noting that the conflict in the Middle East has quietened enquiries and slowed decision making.
Even so, the consensus is that there are meaningful opportunities for committed buyers. Sellers who align with current conditions and adopt realistic pricing are seeing the strongest traction. With some properties effectively priced at the bottom of their cycle, buyers willing to act now may secure good value.
It was also highlighted that the top of the market continues to behave differently. Best in class and genuinely rare homes are still achieving record prices in one off transactions. Despite geopolitical uncertainty, several agents noted renewed interest in London from international buyers, drawn by the city’s reputation for safety, stability and its long standing role as a reliable place to live and invest.
Against this backdrop, London’s core appeal is reasserting itself. Safety, stability and the city’s strong historical performance continue to draw interest from both domestic and overseas buyers. In short, while activity remains uneven and influenced by global events, those who are ready to move are finding opportunities that may not last indefinitely.
Alongside these market insights, this month’s update includes our overview of the Government’s draft Commonhold and Leasehold Reform Bill, by Lucy Smith. The proposals represent a significant shift in long term home ownership and include plans to cap ground rents for existing long leases, abolish forfeiture and move towards making commonhold the default tenure for new developments. Although still under consultation, the measures would amount to a fundamental reshaping of the leasehold system for owners, developers and investors.
We also feature an article by Clare Radcliffe on the Government’s renewed interest in strengthening legal protections for cohabitants. Current English law offers limited rights to unmarried couples on separation or death, often leading to outcomes that diverge from public expectations. The piece explores possible reforms, including improved property rights and clearer financial remedies, and considers the implications for dispute resolution and future planning for cohabiting partners.