Recent research undertaken by leading property agents, Cluttons shows that home ownership is in decline with more Londoners now choosing to rent rather than buying. This is particularly more acute on the 20 to 40 years segment, which are the prime demanders of rental property.

Towards the end of last year, I was delighted to be interviewed by London Property: The Home of Super Prime to discuss market impressions and expectations for 2023.

We discussed the estate of the property market in Central London, as well as one of my favorite subjects: the rental market and what I believe will happen to the property prices. If you are curious, the whole conversation is here: Conversation with London Property: Link

London Property provides informative and educational content from industry leaders through podcasts and videos, with new content released weekly. The platform covers various aspects of the real estate experience, including buying and selling, finance, law, tax, construction, design, and more. The goal is to provide users with the resources and connections they need to make informed decisions and navigate the super-prime property market, with a focus on personal recommendations.

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The government’s announcement in mid-May that property viewings could recommence in England has enabled the comatose London property market to slowly come back to life….

As expected, there is speculation about how the property market will fare and what implications this lockdown will have on the wider economy, short, medium and long term. The reality is that no matter what people say, we are all in unchartered waters.

As we round off 2022, we wanted to look back on all that has happened this year, as well as look forward to what we can expect in
2023.
It's been a year of challenges for the country as a whole and for the economy in particular. Throughout all this, the property market has proven to be very resilient and has remained strong.  The Office of National Statistics reported at the end of Deccemaer that London saw an annual house price increase of 6.7%. Flats and apartments saw the highest price increases of 9.5%.  Buyers remain active, particularly foreign buyers aided by a weak pound. 

Special mention goes to the rental market, which has been full of obstacles for us all in the industry and probably the most challenging market to date. If you have tried to rent a property in Central London this past year, you will know how difficult it was. And the smallest the property, the less the market made sense, with sealed bids happening in 1 bed flats.

There have not all been wins but we are specially proud of what we managed to achieve as a team.

We are certain 2023 will bring its own set of challenges as well as opportunities, but we remain confident that the property market as an asset class will continue to be an attractive proposition. Our  clients know the value that London offers in the long term.

Moving into the New Year, we will remain dedicated to providing the best, most up to date advice to our clients.
As always, we'd be delighted to assist you with any of your property requirements - so please get in touch should you need us. We are always happy to help
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