Tatler Experts’ Corner: What does the future hold for the best real estate market in London?

With the reopening of offices, we are now also seeing an increase in the demand for pied-à-terres in London, often among people who have moved outside the M25 and are facing a commute that is a little longer and more frequent than first expected. All things considered, the market has been strong, it just has not experienced the same level of headline-generating, frenetic activity as the country house market.

Prices in central London, it is fair to say, have been in a holding pattern for most of this year. While the rest of the country and the capital have experienced strong growth, the absence of international buyers means that this has not been the case in Zone 1.

Meanwhile, in areas such as Wandsworth, Richmond and Dulwich, there have been some noticeable levels of growth due to the resurgent demand for green space and space. The overriding point to remember is that the primary central London real estate market is delayed a period of price inflation. For six years, conditions have been relatively subdued due to a series of tax increases and then the political volatility caused by Brexit. We believe that the market is now tightening its grip and that growth will start next year. In the first two months of 2020, we all thought that the market was set for an unusually strong year after the parliamentary elections in December 2019. We are not quite continuing where we left off, but we expect a growth of 7% in 2022 and 25% in the five years until 2025.

The list of evergreen grounds that make people come to London from all over the world remains intact after the pandemic. It includes things like education, language, time zone and the rule of law. These are things we talked about a lot before the pandemic, and I’m sure we’ll talk about them long after it’s disappeared from our collective memories.

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