Happy New Year
December Update
The past two months have been eventful globally, with shifting leadership in Washington and developments in Syria and Lebanon offering both challenges and hope. Closer to home, a fragile ceasefire in Lebanon is a reminder that even small steps can bring progress and optimism.
Amid global uncertainty, London stands out as a beacon of resilience and opportunity, continuing to attract buyers from around the world.
The Property Market Overview
An Overview
The London property market has taken a cautious tone this summer and autumn, weighed down by uncertainty surrounding the October Budget and the U.S. Election. As we approach Christmas, the subdued mood persists.
However, this is a buyer’s market—perhaps the best I’ve seen in years. Stock levels are rising, and sellers are increasingly open to offers they would have dismissed earlier this year.
What’s Driving This Shift?
Several factors have converged to create exceptional opportunities for buyers:
High interest rates
Increased stamp duty
Unfavourable laws for non-domiciles
Political uncertainty
Despite this, London remains resilient. The city offers unparalleled stability, a robust legal framework, and a vibrant cultural buzz that few alternatives—like the Middle East, Milan, or Portugal—can match. I am currently negotiating discounts exceeding 10% on high-quality acquisitions, making this a fantastic time to explore the market.
Off-Market Property:
Insights and Strategy
Off-market transactions are a significant part of London’s prime real estate sector, particularly for properties priced above £2 million. Here’s what you need to know:
Prevalence:
27% of London property sales above £2 million occur off-market.
This figure rises to over 50% for properties priced above £5 million.
Why Off-Market?
Sellers value privacy and exclusivity, while buyers benefit from less competition and early access.
Pricing Insights:
Off-market properties often start at a premium—5-15% above market value—but the best opportunities can arise when unsold properties later hit public portals like Zoopla or Rightmove.
Interestingly, some of the most compelling deals come from properties languishing on public listings—unsold, unloved, and overpriced.
The Role of a Buying Agent
Navigating London’s market—both on and off-market—requires knowledge, strategy, and timing. My role as a buying agent is to:
Provide access to the full market landscape—both publicly listed and off-market.
Use thorough research and insights to uncover undervalued gems.
Balance exclusivity and value to secure the right deal for you.
Whether you’re looking for an exclusive off-market property or an opportunity to secure significant discounts, I ensure your property journey is seamless and successful.
Market Statistics
Off-Market Activity:
27% of transactions above £2 million are off-market.
Over 50% of sales above £5 million are off-market.
Price Reductions:
Prime central London prices have fallen 3-4% year-on-year, with further declines expected next year.
Buyer Opportunities:
Discounts of 10%+ are increasingly common for quality properties.
Concluding thoughts
Beyond buying, many clients now ask me to assist with managing their sales or lettings. By appointing the strongest agents and overseeing the process, I ensure my clients get advice they can trust—all at no cost to them.
As the year draws to a close, I encourage those considering a purchase to take advantage of the opportunities in this unique market. If you or someone you know could benefit from tailored advice, please don’t hesitate to get in touch.
I look forward to welcoming you in our office for a free consultation at 96 Kensington High Street, W8.
Wishing you a festive season filled with joy, and a prosperous New Year ahead.
Best,
Karim